Today, we’re going to look at the history of Domino’s Pizza and look at how they turned around their fortunes by realising that their product wasn’t just pizza, it was delivering pizza. Domino’s Pizza have undergone one of the greatest turnarounds in recent business history.
In under a decade, they have gone from being a punchline about quality, with a share price below $10, to being the second largest pizza company in the world and a darling of the stock market, priced over $150. Domino’s stock has outperformed Google, Facebook, Apple, and Amazon this decade
The company started back in 1960 when Tom and James Monaghan bought a pizza shop called DomiNick’s. James sold his share within just 8 months since he didn’t want to give up his full time job at the postal service. The shop couldn’t use the original name so they eventually settled on Domino’s Pizza. Their logo used a Domino tile with three dots, representing the three pizza shops they had acquired by the mid-sixties.
Before the 70s started, they were already franchising and had grown to over 200 stores by 1978. Over the next few decades they grew steadily, both in the US and overseas so that when Tom Monaghan finally retired in 1998, he sold 93% of the company to Bain Capital Inc for $1 billion.
Soon, they moved to take the company public and it went on the stock market in 2004. But by 2009, the shares were down at $8.76 and the public perception was that Domino’s made some of the worst tasting fast food in America.
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