![]() This was pretty uncommon then, but Monaghan was determined to expand. But the original owner wanted to maintain the rights to the name, so Monaghan chose “Domino’s Pizza” instead, put an ad for it in the Yellow Pages, and incorporated in 1965. Profits grew from $99 a week to $750 a week.ġ965-1967: Tom Monaghan’s pizza business operated under the name DomiNick’s for several years. In another smart move, he cut back additional items he’d started adding to the menu, because he realized that focusing on pizza was operationally more manageable and turned better volume and revenue. For example, he emphasized delivery quickly because the store itself didn’t have much seating. In the very first few years, Tom made some smart business decisions that allowed the business to grow strong even while it was small. A few months after opening, Jim wanted out and traded his half of the business, leaving Tom as the only owner. Neither had a background in business or the pizza industry, but the brothers were excited to try their hand at running and expanding the local business. Tom took out a $900 loan from the Post Office credit union and bought the shop in Ypsilanti, Michigan. The two heard that a local pizza business, DomiNick’s, was up for sale. Here’s how these early years unfolded and how Domino’s spent its first 50 years establishing convenience as a brand.ġ960: After working years of odd jobs and trying to save money for college, 23-year-old Tom Monaghan moved back to his hometown of Ann Arbor, Michigan with his brother Jim. With these solid practices in place, the growth of the Domino’s Pizza empire was fast and furious. Convenience and reliability are always going to be important to people who are ordering pizza, and these are the core values that Domino’s recognized quickly and doubled down on in their early messaging and brand marketing. The founding team understood that Domino’s was not just a pizza company-it was also a pizza delivery company. They entered into the market with one product, pizza, and began to expand out into a pizza ecosystem by adding new products like Cheesy Bread and Cinna Stix.īut most importantly, they were very self-aware and would craft their brand and messaging around the things they knew were most important to their market. They thought carefully about operations behind the scenes as they franchised and scaled. Tom and Jim did a ton of research about the pizza industry and the competitors. When Tom and Jim Monaghan took over an old pizza parlor in 1960 and started growing their own pizza business, they hit the top moves from the basic business playbook. And though their delivery guarantees, marketing campaigns, and even the pizza itself have gone through radical changes, most of their core principles are the same. In 2017, Domino’s began testing self-driving delivery vehicles. Their pace of innovation is putting other food brands, and even tech companies, to shame. Now, almost sixty years later, they’re still growing at a crazy pace. Domino’s built a strong foundation for longevity because they understood their own core value and knew what their market wanted. The winding hero’s journey from growing franchise to public embarrassment to-finally-the stock-picker favorite began with some of the same best practices that we use in business today. ![]() 1960-2007: Convenience as a brandįifty years before Apple released its brand-defining iPhone, forty years before Salesforce brought software to the cloud, and thirty years before Tim Berners-Lee invented the World Wide Web, two brothers started a pizza company that would become an innovator in business and technology and one of the most loved brands in America. Go ahead and order a pizza while you read on-it will be there soon.
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