
Why Most Founders Are Building the Wrong Business with Julian Metcalfe founder of Pret & Itsu
What does it really take to build a business that lasts for decades? Julian Metcalfe, the entrepreneur behind two of Britain's most recognisable food brands, Pret A Manger and Itsu, joins Gary Fox for a masterclass in entrepreneurship, leadership and the relentless pursuit of excellence. After more than four decades building businesses, Julian has a refreshingly simple philosophy: never settle, never stop improving and never forget the customer. In this conversation, Julian reveals why he believes founders need to think in decades rather than days, why great products matter more than great marketing and why leadership starts with taking personal responsibility. He shares extraordinary stories from his career, including giving around 1,000 Pret employees his personal phone number, building an internal help desk to support his team and travelling repeatedly to Japan to perfect a product. We also explore why so many businesses lose their soul as they grow, how to create a culture of genuine care and why Julian believes there's never been a better time to start a business. This is a conversation about building something exceptional, treating people properly and finding purpose in the work. If you're building a company, leading a team or thinking about starting your own business, this episode is for you. Julian Metcalfe: Building Pret, Itsu & the Pursuit of Excellence Guest: Julian Metcalfe, Co-founder of Pret A Manger and Founder of Itsu Host: Gary Fox, The Entrepreneur Experiment Proudly powered by our commercial partners Nostra: https://bit.ly/nostra26 Azure Communications: https://bit.ly/azure26 Small Firms Association: https://bit.ly/4iDW6tW In this episode Think in decades: Why trust, brand loyalty and lasting businesses take years to build. Start before you're ready: Julian's advice to aspiring entrepreneurs who are paralysed by perfectionism. Product beats promotion: Why marketing cannot compensate for a disappointing product. Never stop improving: The story of repeated trips to Japan to perfect an Itsu noodle product. Don't let your product taste like a spreadsheet: How financial decisions can strip the soul out of a business. Build a culture of care: Why employees need a shared purpose, meaningful responsibility and exceptional support. Leadership means accountability: Why Julian gave employees his personal phone number and shares his email address with customers. Fight mediocrity: Julian's philosophy of making products, services and people better every day. Episode chapters 00:00 — Building brands that last for decades 01:20 — Why entrepreneurs must think 10–20 years ahead 03:15 — The privilege of working for yourself 04:00 — Julian's journey into entrepreneurship 07:00 — Starting a business in the social media era 09:00 — Why great products beat great marketing 10:45 — Travelling to Japan to improve the product 12:55 — When your product starts tasting like a spreadsheet 14:10 — Creating a company culture with purpose 17:00 — What former Pret employees say about the culture 20:00 — Keeping leaders connected to frontline teams 29:00 — Giving employees responsibility and room to grow 40:00 — The importance of refusing mediocrity 45:30 — Why Julian gave 1,000 Pret employees his phone number 46:00 — The remarkable internal Pret employee help desk 47:55 — Why accountability matters in business 49:15 — Personally responding to customer feedback 52:55 — Quick-fire questions and book recommendations 55:30 — Why Julian doesn't invest in other businesses 57:30 — The one lesson every founder should take away 58:30 — Itsu's future and international expansion Mentioned in this episode Julian's businesses Pret A Manger: https://www.pret.co.uk Itsu: https://www.itsu.com Book recommendation Leaders Eat Last by Simon Sinek Other businesses mentioned Hikari Miso, the Japanese producer Julian discusses when describing the development of Itsu's broth products. Connect with The Entrepreneur Experiment Hosted by Gary Fox. Build a better founder, not just a better business. Subscribe for conversations with exceptional entrepreneurs and practical lessons on building a better business and a better life.





