Dominos

In: Business and Management

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HISTORY
Domino’s Pizza was founded in 1960 and since then has grown to become the largest pizza delivery company in the United States. It has grown from a mom-and-pop pizza store to a network of company-owned, franchise-owned stores in the United States and across the globe and was recently ranked number 1 in Forbes magazine’s “Top 20 Franchises for the Money” list (David, R 2013, p. 372). Domino’s Pizza was the brain child of the brothers Tom and James Monaghan who grew up in foster care and had dreams of success. In 1960 the brothers opened their first pizza store in Ypsilanti, Michigan named Domi-Nicks with a nine hundred dollar start up loan. In 1961 Tom acquired full and sole ownership of Domi-Nicks by trading his brother James a car, a Volkswagen Beetle to be specific, for his half of the business. He then changed the name to Domino’s Pizza Inc. During the period from 1965 to 1978 Domino’s experienced steady growth and had increased from the initial mom-and-pop store, to having 200 locations nationwide. The 1980’s saw continued expansion of Domino’s and its brand. They grew to more than 5,000 locations in the United States, Canada, United Kingdom, Japan, Australia and Columbia (David, R. 2013, p.372). In 1986 Domino’s Pizza launched its Pizza Partners Foundation which is 100% funded by team member and franchise contributions and has disbursed nearly $12 million to aid team members facing crisis situations.
Company founder Tom Monaghan eventually retired in 1998 and sold 93% of the company, which was worth $1 billion at the time to Bain Capital Inc. Domino’s continued to enjoy continued success after the sale to Bain Capital Inc. and in 2004 it became a publically traded company on the New York Stock Exchange. The initial stock offering price was $16 per share and the value placed on the company rose to $2 billion. This gave Bain Capital a…...

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