Franchise Update Magazine Issue III, 2011 | Page 14
CEO profile:
national familiarity and positive name
recognition.
How has the economy changed your
goals for your company? It actu-
ally hasn’t changed the goals but it has
changed the timelines. Over the last
three years the growth rate has been
cut in half, but we continue to grow. It
has slowed us down.
Where can capital be found these
days? It’s hard. The SBA seems like it’s
helping out in conjunction with community banks. As a company we’re not
really interested in private equity firms,
selling off the company.
How do you measure success? For
me it’s not a specific metric, but rather
being satisfied. For the franchisees, if
they’re happy, making money, then to
me that’s a measure of franchisee success.
For me, I ask myself if I feel satisfied. If
“If the banks
open up a
little and start
lending again
our growth will
accelerate.
And, hopefully,
we’ll add two
more new
states with
Pita Pits in the
next year.”
there are lots of problems, I don’t feel
successful. And I have a fairly high bar
to reach to feel satisfied.
What has been your greatest success? I think it was the challenge of
putting a group together to acquire the
company in 2005. And then to grow
from 70 to 187 locations.
Any regrets? No, not really. (laughs)
I had no control over the economy in
2008, so no personal regrets but more
of a global financial regret.
What can we expect from your company in the next 12 to 18 months? I
think we will continue to have positive
growth. We have at least four new locations opening up in the next two months.
If the banks open up a little and start
lending again our growth will accelerate.
And, hopefully, we’ll add two more new
states with Pita Pits in the next year. n
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