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Beneath All the Toppings: How Monaghan Grew Domino’s into a Pizza Empire
Article Overview: “If you want to be successful over a long period, you have to have some idea why you were born and what life is about,” says Monaghan. “I don't know how anybody can function without thinking that through.” It may have taken him a while to realize it, but Monaghan certainly came to know what he was meant to do with his life. From dropping out of school and shredding cheese in his one-man pizza shop in Ypsilanti, Michigan, to exporting his recipe for success to over 8,000 Domino’s locations around the world, Monaghan pioneered his way – and his pizza – to the top. How did he do it?
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Free Download - Tom Monaghan Quotes By Tom Monaghan |
Beneath All the Toppings: How Monaghan Grew Domino’s into a Pizza Empire
“If you want to be successful over a long period, you have to have some idea why you were born and what life is about,” says Monaghan. “I don't know how anybody can function without thinking that through.” It may have taken him a while to realize it, but Monaghan certainly came to know what he was meant to do with his life. From dropping out of school and shredding cheese in his one-man pizza shop in Ypsilanti, Michigan, to exporting his recipe for success to over 8,000 Domino’s locations around the world, Monaghan pioneered his way – and his pizza – to the top. How did he do it?
Confidence: Reflecting on the lowest point of his career, Monaghan says, “Bankruptcy would have been easier. It wasn't in my vocabulary.” Nothing about quitting or accepting failure had ever come into Monaghan’s vocabulary. He had invested his time and energy into his pizza parlour, and although his brother might have bowed out, Monaghan was not about to. It was with determination and faith in himself that Monaghan was able to triumph.
Excellence: Whether he was motivated by pride or a true commitment to quality or both, Monaghan was determined to be the best at whatever he did. From using only the highest quality ingredients for his pizzas to guaranteeing the fastest delivery time, Monaghan carefully made sure that Domino’s was building a solid and unmatchable reputation in the industry.
Chance: Had Monaghan bothered asking a consultant whether or not he should scrap his most popular product, he probably would have been told that he was out of his mind. It’s a good thing then that he stuck with his hunch. Whether it was changing his product line or trying to beat the clock, Monaghan was not afraid to take a chance and try something new. It were in fact those very gambles that set him apart from the pack.
Motive: “The greatest of all sins is pride,” says Monaghan. “It's a bad thing to want more than what other people have.” It took many years for Monaghan to realize he ought to be driven by some force other than money, but when he did, he refocused his energy on making Domino’s the best that it could be.
Faith: “I wanted my faith to be the center of my life,” says Monaghan. “I'm thankful that I have my faith, because I couldn't have gotten through Domino's without it.” It is in large part to his Catholic beliefs that Monaghan attributes his success. From practicing the Golden Rule and building solid business relationships, to comforting him during difficult times, it was religion that helped sustain Monaghan.
As controversial a figure as he is no one can accuse Monaghan of sitting on the sidelines. He worked hard for what he wanted and he continues to fight for what he believes in. Today, Monaghan spends his time devoted to philanthropic causes in an effort to give away most of his accumulated fortune. “I enjoyed Domino's, but I don't miss it at all,” he says. “This is so much more fulfilling.”
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Related Forum Posts
Re: Dominos vs Subway
- The Dominos message is cloudy. As posted, their image is for Pizza, not subs. Is it just pizza ingredients on a bun? Are they baking the subs and delivering them, or do they bring them so that the buyer can put them in the oven? (Presume the former, but still, the message is not clear.) "Preferred 2 to 1," by whom, and under what cicumstances? Does waiting for delivery factor into the preference? I am not sure that Dominos can greatly impact the leader.
Subway has hurt Quiznos franchisees with the $5 promotion, because Quiznos has higher ingredient costs. Quiznos really didn't have a response. I noticed a "lower prices" banner at a Quiznos I visited yesterday, but that is a long way from $5 for foot longs.
Re: Any franchising horror story?
- [quote="Boola":3v4xydbm]Myself, and a dozen other Pizza Pizza franchisees lost their shops this year and can not afford a lawyer.
In my case, after 1 year I requested to have the shop sold because what they sold us on paper clearly wasn't what was reality. After the 2 year mark was over (the out limit according to Ontario Law), I started receiving demand letters 2 termination notices. 6 months ago they took the shop and I'm still in limbo.. out almost 200K, my time, my wife's time and am receiving social assistance.
Technically, I still own the business and the equipment but they will not "buy it back" from me nor will they budge until they find a new owner. They will also not allow me to refinance the collateral at a better interest rate and free up the equity so that we can get on with our lives.
Totally disappointed, depressed and we're at risk of loosing our home because we can't make the payments anymore.
A company full of broken promises.[/quote:3v4xydbm]
Hi Boola,
I'm very sorry to hear about your misfortune but can I ask how you lost your Pizza Pizza shop?
Re: Any franchising horror story?
- Myself, and a dozen other Pizza Pizza franchisees lost their shops this year and can not afford a lawyer.
In my case, after 1 year I requested to have the shop sold because what they sold us on paper clearly wasn't what was reality. After the 2 year mark was over (the out limit according to Ontario Law), I started receiving demand letters 2 termination notices. 6 months ago they took the shop and I'm still in limbo.. out almost 200K, my time, my wife's time and am receiving social assistance.
Technically, I still own the business and the equipment but they will not "buy it back" from me nor will they budge until they find a new owner. They will also not allow me to refinance the collateral at a better interest rate and free up the equity so that we can get on with our lives.
Totally disappointed, depressed and we're at risk of loosing our home because we can't make the payments anymore.
A company full of broken promises.
Dragon's Den Ryerson Prof.
- I think they blew a great opportunity. The La Senza and Boston Pizza guys were ready to sign up as clients and use it and they had 5 seasoned entrepreneurs as advisors. why go with a professor who has never made it as an entrepreneur??
Re: Who is doing CPA marketing here?
- [quote="Trent Brownrigg":3n71pzcm]I've dabbled in it but not really enough to say that I "do it" or know much about it. CPA marketing seems to be majorly on the rise though and a lot more people are starting to do it. I plan to look more into it this year and actually started doing a little research yesterday. What CPA network are you using?[/quote:3n71pzcm]
Commission Empire and Adnetwork
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