Pret & Itsu Founder: How I Built TWO Billion Dollar Brands At The Same Time!: Julian Metcalfe | E173
Executive Summary
Steven Bartlett talks with Pret A Manger co-founder and Itsu founder Julian Metcalfe about fresh food, respect for customers, team hiring decisions and transparent leadership. Metcalfe argues that the quality of the product and relationships matters more than simply claiming to work hard. These notes cover selected business passages from the first roughly 50,000 characters of the public YouTube auto-captions of episode E173. Later material and personal family anecdotes are not covered; captions may contain errors. Operational practices are described as his experience at the time, not as verified current company policies.
Key Takeaways
Treat customers with respect
He says if you expect customers to be loyal, you must treat them with respect and sell something worthy of their hard-earned money. He calls this common sense, even when it costs more.
Make freshness a practical operating choice
Metcalfe describes Pret's commitment to food made daily, not held over for sale the next day. Unsold sandwiches went to people in need rather than being thrown away. He links that decision to the pride staff take in making food, even when the business was not profitable.
Give product and relationships sustained attention
He says he is more interested in relationships with customers and staff and in the product than in accounting. His argument is that getting those basics right helps the commercial results. It should not be read as permission to ignore finances or assume they will take care of themselves.
Let the team help choose colleagues
He describes candidates spending time in a shop before staff voted on whether they should join. The team gained a say in who they would work with, rather than relying only on a manager's preference. Such a process still needs fair, job-related criteria and should not become a popularity contest.
Make transparency part of trust
Metcalfe repeatedly stresses honesty and transparency in working relationships. The conversation also includes Bartlett's account of sharing financial information with his own team; that example belongs to the host, not the guest. The general point is to make important information clear enough for people to trust the business.
Evidence over hard work
Many people work hard but not with focus. He says it is about proof: is your product, service and relationships getting better.
Find a co-founder who is strong where you are not
Pret began in 1986 with a college friend who was more disciplined and respected numbers and the law. Metcalfe offered half the company if he left his job; he retired after about 15 years.
The Conversation Breakdown
Treat customers with respect
⏱ Untimed topicHe says if you expect customers to be loyal, you must treat them with respect and sell something worthy of their hard-earned money. He calls this common sense, even when it costs more.
Make freshness a practical operating choice
⏱ Untimed topicMetcalfe describes Pret's commitment to food made daily, not held over for sale the next day. Unsold sandwiches went to people in need rather than being thrown away. He links that decision to the pride staff take in making food, even when the business was not profitable.
Give product and relationships sustained attention
⏱ Untimed topicHe says he is more interested in relationships with customers and staff and in the product than in accounting. His argument is that getting those basics right helps the commercial results. It should not be read as permission to ignore finances or assume they will take care of themselves.
Let the team help choose colleagues
⏱ Untimed topicHe describes candidates spending time in a shop before staff voted on whether they should join. The team gained a say in who they would work with, rather than relying only on a manager's preference. Such a process still needs fair, job-related criteria and should not become a popularity contest.
Make transparency part of trust
⏱ Untimed topicMetcalfe repeatedly stresses honesty and transparency in working relationships. The conversation also includes Bartlett's account of sharing financial information with his own team; that example belongs to the host, not the guest. The general point is to make important information clear enough for people to trust the business.
Evidence over hard work
⏱ Untimed topicMany people work hard but not with focus. He says it is about proof: is your product, service and relationships getting better.
Find a co-founder who is strong where you are not
⏱ Untimed topicPret began in 1986 with a college friend who was more disciplined and respected numbers and the law. Metcalfe offered half the company if he left his job; he retired after about 15 years.
Core Frameworks & Ideas
Respect for the customer
Offer food and service that justify the customer's money. Metcalfe links loyalty to the quality of what the business actually provides.
Proof of improvement
Ask whether the product, service and working relationships are getting better. Hours of effort alone do not answer that question.
Complementary partners
Choose a partner whose discipline and skills strengthen the parts of the business you handle less well. Metcalfe describes his original Pret partner as more attentive to numbers and legal responsibilities.
Actionable Next Steps
- ✓Include structured, job-related team feedback in the next hiring decision.
- ✓Review what happens to unsold stock and choose a safe, lawful option that staff can support.
- ✓Share a relevant business metric with the team and explain what it means.
- ✓Identify one measurable improvement in product or service quality, rather than only counting hours worked.
Notable Quotes
“it's about proof it's about real facts”
“i'm far more interested in the relationships with the customer and the staff and the product”
“transparency is everything”
The One Thing to Remember
it's about proof it's about real facts