Truett’s model for selling his franchises is unique for the industry. Instead of requiring candidates to commit to purchasing several restaurants in a region and requiring the candidate to pay high prices up front for rights, buildout and equipment, Truett assumes most of the financial responsibility. He feels this is important in order for him to cast a wide net in his search for prospective franchise owners. In 1964, the buy in price to own a Chick-fil-A franchise was $5,000. Today the price remains $5,000.
When Carl noticed how many buns he was delivering to local hot dog stands he decided to buy one for himself to make a little extra cash. Around this time the automobile industry exploded. “The nation's car culture reached its height in southern California, inspiring
Chris and Bob moved up to executive roles in the Bennigans restaurant group, and found ambition to create their own restaurant. In 1987 the two men asked Tim Gannon to be the restaurants chief chef, due to his background in previous food ventures. As the three men collaborated the design of the new place, a steak emphasis really took over. When the three men had come to their decisions they decided to go with the Australian theme due to the popularity of that culture at that time in the U.S. They also decided that steak places were a relatively untapped market in the U.S., and they saw it as a gold mine.
Lyric Lederer Professor Moore English 1101-NET04 September 18, 2012 Unit 3-2 Summary Eric Schlosser promises to show us ‘The Dark Side of the All-American Meal; in his expose, Fast Food Nation, and he delivers. He hits us early in” Chapter 2, “Your Trusted Friends,” by exposing how the fast food industry, together with many corporations, grew to be such an over powering and influencing presence on the nation. The industry grew by using the methods of big business, starting with the assembly line type production methods, then by strategic and deceptive marketing. Schlosser wanted to show that the American public had a need for low cost food that could be delivered to the customer quickly and with no or very little preparation time. Fast food industries corporate greed took advantage of Americas need for cheap and readily available food.
After trying to be in several lines of businesses, Day decided to open Wang Steak, the high-end steak house in Central Taiwan. Due to its the success with Wang Steak, Day opened couples of branches of Wang Steak and decided to open two more steakhouses to target the bigger segments of customers. Day continued his strategic brand development with the further expansion, from a single brand strategy to the multiple brand strategy. To be able to enjoy economies of scale, Day realized that he had to create the different value propositions that offered different groups of customers with the different cuisine types. Till the end of 2011, the Wowprime group has offered 170 restaurants under 10 different brands for customers in the different age groups, income, professional categories, and purpose of dining.
Unlike many other competitors, Wendy’s limited the number of menu items to four main products: hamburgers, chili, French fries, and Wendy’s Frosty Dairy Dessert. Although this limited menu added convenience for customers to choose the food and simplicity to Wendy’s preparation process, Wendy’s had no choice but to abandon its original “limited menu” concept during the late 1970s to respond in a timely manner to customer trends. As the U.S. economy entered a recession, the customer’s increasing demand for low cost fast food restaurants stimulated the continual emergence of new competitors and major competitors
Steve Ells opened the first Chipotle in 1993. He started to expand in 1995, with a second and third location. Steve talked about wanting to open his own restaurant, understanding the business from working in one of his favorite restaurants in San Diego which he got after finishing culinary arts school, He started Chipotle to back his restaurant Idea that he wanted to open. As he saw that Chipotle was taking off, he opened 3 more Chipotle’s throughout 1995. If when I saw my burrito shop taking off like this I would have turned it in to the restaurant instead of opening more small Chipotle he could of invested into one more but as a restaurant style, where he could of built it as a chain from there.
1. What types of marketing strategies is Chick-Fil-A following? Relating to the product, Chick-fil-A was a pioneer introducing the original boneless breast of chicken sandwich, he present a high quality and simple product, and became the second quick service chicken restaurant in the USA. They make food fresh daily and offer healthier alternatives to the classical chicken burger. The company grew up rapidly in the last few years, beforehand it tried to implement product development offering a wider range of things on the menu, such as healthier alternatives to the classical chicken burger, and differentiate them on customers’ different features basis (for example they developed children’ meal that is able to respond to the buyers’ needs).
Five Guys Burger and Fries are a family owned business that was started by Jerry Murrell. He decided to open a restaurant by using the money saved for his sons to go to college. Jerry presented his sons with the notion of either going to college or opening a restaurant with him, so they decided to open the restaurant. Five Guys is a restaurant named for Jerry and his sons along with his wife Janie. Jerry wanted to be set apart from other restaurants so he concentrated on the quality of the product and customer satisfaction to both internal and external customer by using 80% lean meat always fresh and never frozen.
Assignment 1: Entrepreneurial Leadership Case Study: “Five Guys Burgers and Fries: Ingredients for Success” Glendolyn Hayden-Sharpe Professor Carolyn Green Contemporary Business October 13, 2013 Assignment 1: Entrepreneurial Leadership Case Study: “Five Guys Burgers and Fries: Ingredients for Success” Five Guys Burgers and Fries has been a Washington, D.C. area favorite since 1986, when Jerry and Murrell offered sage advise to the four young Murrell brothers. “Start a business or go to college.” The business route won and the Murrell family opened a carry-out burger joint in Arlington, Virginia. What sets Five Guys Burger and Fries apart from other fast food chains is that the serve only hand-formed burgers cooked to perfection on a grill along with fresh-cut fries cooked in peanut oil. Five Guys enterprises sold options for over 300 units. The overwhelming success of franchising a local restaurant made national news with articles in trade publications such as Nation’s Restaurant News, Restaurant Business Magazine, and the Franchise Times.