Panera Bread Founder Ron Shaich on Fast Casual Dining

In this episode of Masters in Business, Barry Ritholtz interviews Ron Shaich, the former chairman and CEO of Au Bon Pain and Panera Bread, about his journey in the fast-casual dining industry. Shaich discusses his early career, including starting a cookie company and merging it with Au Bon Pain, eventually leading to the creation of Panera Bread. He shares insights on identifying consumer trends, the importance of competitive advantage, and the challenges of scaling a business. The conversation covers the acquisition of St. Louis Bread Company, the transformation of Panera, and the decision to sell the company. Shaich also talks about his current venture, Act III Holdings, and its investments in companies like Cava, Life Alive, and Level99, emphasizing a founder-friendly approach and a focus on long-term growth.