Domino’s Pizza is one of the leading and largest restaurant chains in the world. The restaurant, founded by Tom Monaghan, was opened in 1960 almost six decades ago and is still going at a steady pace. But, they did not achieve success overnight. Where they are today is the result of years and years of hard work, commitment, perseverance, and dedication.
The beginning of Domino’s Pizza
In 1941, Tom Monaghan’s father died and he spent most of his childhood days in an orphanage and his relative’s house. He had big dreams and saved up his money to invest it in something good. In 1960, Tom and his brother Jim bought a local pizza business, Dominick’s, for sale in their hometown of Ann Arbor, Michigan. Tom took out a $900 loan from the Post Office. They did have a business background and everything was new to them. Few months after starting the business Jim backed out which left Tom as the only owner. During the early years of business, Tom invested all his time and energy into growing the business. He kept the name Dominick’s pizza for several years till the original owner intervened and eventually, he changed the name to Domino’s Pizza.
Steps towards success
In the late 1970s, Domino’s collaborated with several other pizza joints which helped them in expanding their areas of operation and get access to each other’s customers. After a few years, they opened almost 200 stores globally. Beginning in 1973, Domino’s Pizza offered a guarantee to customers their pizza would be delivered within 30 minutes of placing an order or they would receive the pizza free. According to Tom Monaghan, the half-hour guarantee was dropped in 1993 because of the “public perception of reckless driving and irresponsibility”. In the year 1975, Domino’s faced a lawsuit alleging trademark infringement and unfair competition. On May 2, 1980, the court found in favour of Domino’s Pizza.
Today, Domino’s has over 17,000 stores across more than 90 countries with retail sales of $14.3 billion. With various products on its menu, it is known for its best pizza delivery service across the globe. More than half of Domino’s sales now come from outside the U.S. More than 94% of Domino’s stores in the U.S. are franchise-owned. Domino’s is the market leader in the pizza segment in India.