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Domino’s pizza: delivering a superior business model.

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MIAMI, FL - APRIL 14: A sign in front of a Domino's Pizza April 14, 2004 in Miami, Florida. ... [+] Domino's Pizza is looking to raise $300 million in the stock market by listing on the New York Stock exchange. The Michigan-based firm already has a London stock market listing for its UK subsidiary. According to media reports, the funds raised may be used to pay off debts. The 44-year-old firm now has 7,400 outlets in more than 50 countries. The firm is reporting that pizza sales are up 5.8% in 2003. (Photo by Joe Raedle/Getty Images)

This company saw large market share gains throughout the pandemic and is positioned for years of more profit growth, but its stock has fallen 30% year to date and is trading at pre-pandemic levels. The company is mischaracterized as a restaurant chain when it is really more of a supply chain operator and consumer marketing firm. Domino’s (DPZ) is this week’s Long Idea.

Domino’s stock presents quality risk/reward given the company’s:

• position as the world’s largest pizza chain
• consistent market share gains
• efficiencies from its integrated delivery system that third parties cannot replicate
• ability to overcome current labor shortages over the long term
• superior profitability to peers
• valuation implies the company’s profits will permanently fall 10% from current levels

Cheapest PEBV Ratio Since 2013

Like many companies that grew sales during the pandemic, Domino’s Pizza’s stock price soared ~50% above pre-pandemic levels. Then, as traders unwound their pandemic trades, the stock has tumbled 30% year-to-date and now trades below its price-to-economic book value (PEBV) ratio (0.9) for just the second time since 2013. See Figure 1.

A PEBV ratio of 0.9 means the stock is priced for profits to immediately fall and permanently stay 10% below 2021 levels, which as I’ll show below, is highly unlikely. For more details about the upside embedded in Domino’s stock price, see the scenarios analyzed using my reverse discounted cash flow (DCF) model in the valuation section.

Figure 1: Stock Price and Economic Book Value per Share: 2013 – Current

DPZ Price to EBV

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Proven International Force

Domino’s has more than 18,800 locations in 90 different markets around the world. Domino’s U.S. and international retail sales have each grown by 10% compounded annually over the past 10 years. Per Figure 2, Domino’s international segment accounted for 51% of its global retail sales in 2021.

Global reach exposes the company to geopolitical risks but a wide geographic dispersal limits exposure to individual countries outside the United States. For example, Domino’s risk from rising tension between China and the international community is limited as just 5% of its international stores are in China.

Figure 2: International and U.S. Retail Sales: 2021

DPZ Sales Mix

Franchise Model Drives Store Count Growth

Domino’s is thought of as a restaurant chain, but the company owns just 2% of its stores. The company generates revenue from franchise royalties and its supply chain operations in the United States. Dominos is more of a supply chain operator and consumer marketing firm than it is a restaurant chain.

This franchise model is beneficial to investors because it enables the company to efficiently manage its capital while having the flexibility to pursue strong growth opportunities. For potential franchisees, the company offers a streamlined operating model, national marketing campaigns, and a cash-on-cash return of investment in three years or less.

Clearly the opportunity is attractive to franchisees globally because the international market has been the main driver of store growth. Per Figure 3, Domino’s grew its store count from 11,629 in 2014 to 18,848 in 2021.

Figure 3: International and U.S. Store Count: 2014 – 2021

DPZ Store Count

Continued growth in the global Quick Service Restaurant (QSR) market will support Domino’s global retail sales growth. Research and Markets expects the global QSR market to grow at a 4.9% CAGR from 2022 – 2027.

Domino’s continues to see opportunities for profitable store growth. The company believes the U.S. market has the potential to grow to 8,000 stores, compared to 6,560 at the end of 2021, and its top 14 international markets could add an additional 10,000 stores, which would nearly double its international store count.

Taking Control from Start to Finish

A key contributor to Domino’s success as a franchisor is the control exerted over its product quality and customer experience, from end-to-end. Here’s how the company maintains that control:

• Supply chain: Supply chain operations provide quality-assured ingredients at competitive costs, freeing time for franchisees to manage other parts of the business. For example, Domino’s delivers mixed dough to stores, saving operators a time-consuming preparation step.
• Franchisee selection: Over 95% of the company’s U.S. franchisees started as drivers or in-store employees. The company requires franchisees to have extensive Domino’s and management experience. By being selective, Domino’s protects its brand with franchisees who understand its business model and culture.
• Delivery: Domino’s operates an efficient delivery system that ensures customers gets a hot, quality product delivered in a timely fashion.

By taking ownership over the entire process, Domino’s eliminates cost inefficiencies and maintains a consistent quality level across its entire business.

Digital Business Enhances Customer Experience and Profitability

Domino’s digital capabilities enrich the customer experience by offering quick and easy ordering options, a rewards program, exclusive digital-only deals, and a voice ordering application. Digital orders create more customer engagement, ensure a more consistent customer experience, and drive higher sales against lower costs. Domino’s carryout tickets that are ordered online are 25% higher than those ordered over the phone, and are less labor-intensive, which is helpful in a tight labor market.

Domino’s digital capabilities paid off when customers relied upon ecommerce channels during the pandemic. Per Figure 4, retail sales generated through Domino’s digital channel rose from 60% of total sales in 2017 to 75% in 2021. For comparison, McDonald’s systemwide sales from digital channels in 2021 were ~25% of systemwide sales in its top 6 markets.

Figure 4: U.S. Digital Retail Sales as a Percent of Total U.S. Retail Sales: 2017 – 2021

DPZ Digital Sales As Of Total

Equipped to Navigate Pandemic Disruption

Domino’s large digital presence, integrated supply chain, robust delivery service, and carry out capabilities made the company ideally situated to strengthen its market position during the COVID-19 pandemic. While weaker competitors struggled to reach customers during the pandemic, Domino’s market share soared from 1.6% of the global quick service restaurant (QSR) market in 2019 to 2.2% in 2021.

Far from being a recent anomaly, Domino’s strong business model was taking market share long before the pandemic. Per Figure 5, Domino’s grew its share of the global QSR market from 1.1% in 2012 to 1.6% in 2019. A strong business model positioned the company to benefit when other businesses were retreating. This is ground won that Domino’s will not likely give back post-pandemic.

Figure 5: Share of Global QSR Market: 2012 – 2021

DPZ Market Share

Industry-Leading Profitability

Domino’s business model not only generates impressive top-line growth, but it also industry-leading invested capital turns and return on invested capital (ROIC). At 59%, Domino’s trailing-twelve-month (TTM) ROIC is 1.6x its closest competitor. See Figure 6.

The company’s high ROIC isn’t just the result of a one-time pandemic boost either. The company’s 5-year average ROIC is actually slightly higher at 60%. Looking at the entire S&P 500 reveals that only four companies have a higher 5-year average ROIC than Domino’s.

Figure 6: Domino’s Profitability Vs. Peers: TTM

DPZ DuPont Analysis

Steady Economic Earnings Growth

Domino’s continues to create shareholder value as it expands its business. The company has generated positive economic earnings every year since going public in 2004. More recently, Domino’s economic earnings grew from $151 million in 2011 to $627 million in 2021.

Figure 7: Economic Earnings Since 2011

DPZ Economic Earnings

Healthier Eating Is Not a Big Risk

The company’s operation is specifically configured to the mass production of quality pizza, which limits direct competition from most other QSRs. However, such dependence on one product means the company’s success is also tied to the popularity of pizza.

The rise of health consciousness poses a threat to the industry that serves loads of highly caloric carbs, fats, and processed meats. A change in dietary habits toward healthier options could pose a long-term headwind for the industry and its largest supplier. However, this threat is not likely to keep the pizza market from growing. Despite an ever-increasing array of diet and healthy eating options, the American QSR pizza market grew from $35.9 billion in 2016 to $40.6 billion in 2021.

Furthermore, Domino’s experience with innovation means that it can offer better-for-you options, such as gluten-free crust, should consumer preferences shift away from traditionally made pizza.

Rising Costs Could Hurt Margins But Drive More Market Share Gains

Management noted in its 4Q21 earnings call that it expects Domino’s U.S. stores to see up to a 10% increase in its food supply costs. These rising costs will have an immediate impact on stores’ profitability. The company will also feel the negative effects of rising costs as a decline in store profitability will have a “trickle-up” effect on the franchisor. Stores may be forced to promote higher margin items to offset the impact of rising costs, reduce operating hours, or less aggressively acquire staff members which could lead to lower retail sales.

Staffing shortages which will likely continue to be a headwind to store count growth and running sales promotions. The company is more cautious about offering promotions that drive more traffic amidst the present challenges. Stores may not be able to keep up with more business while maintaining quality standards, and Domino’s is hesitant to actively acquire more customers, who may have a less than ideal experience with understaffed stores.

However, all other QSR operators face these same challenges. Domino’s extensive store network, supply chain efficiencies and best-in-class ROIC provide it with strong advantages that will likely drive more market share gains as they did during COVID.

Delivery Service: Long-Term Advantage but Short-Term Problem

The current labor shortage is directly impacting Domino’s ability to execute operations that are heavily dependent on delivery service. A lack of delivery drivers has led some stores to reduce operating hours as the company struggles to provide the delivery capacity to meet demand. The company is leaning on its digital channel and carryout business to assist with navigating these challenges by offering more incentives.

Over the long term, Domino’s delivery capabilities are a major competitive advantage for the company, which I expect will continue to drive more growth, despite current capacity constraints.

Uber Eats and Door Dash Reduce Domino’s Delivery Advantage

I have long argued that third-party delivery services such as Uber Eats (UBER) and DoorDash (DASH) operate broken business models that will fail in the long run, but they still pose a threat to Domino’s in the short-term. DoorDash’s rapid market share gains in the U.S. food delivery market have slowed Domino’s ability to acquire new customers.

The third-party food delivery market has grown remarkably over the past two years. However, leading names in the market - such as DoorDash – achieved their growth unprofitably, which means those market share gains are not sustainable. Eventually, third-party delivery services will need to either increase fees or exit the market. Either way, Domino’s integrated delivery service will be ready to take back lost market share.

Domino’s also offers more ways to fulfill customer orders beyond traditional at-home delivery. Domino’s Pizza’s contactless pickup, which guarantees orders will be placed in the vehicle within two minutes of arrival, and delivery hotspots, offer customers the convenience of multiple fulfillment options.

Over the long term, Domino’s is looking to create autonomous delivery solutions. The company’s partnership with Nuro enabled it to test autonomous pizza delivery vehicles in Houston in 2021. These automated delivery systems would make Domino’s highly efficient business model even more efficient.

DPZ Has 83% Upside If Consensus Is Correct

Domino’s stock is priced for profits to fall from current levels despite its history of growth, superior profitability, industry-leading market share, and numerous growth opportunities. Below I use my reverse discounted cash flow (DCF) model to analyze two future cash flow scenarios to highlight the upside in Domino’s current stock price.

DCF Scenario 1: to Justify the Current Stock Price of $390/share.

If I assume Domino’s:

• NOPAT margin falls to 13% (10-year average vs. 15% in 2021) in 2022 through 2031 and
• revenue grows at just a 1% CAGR (vs. 2022 – 2024 consensus estimate CAGR of 7%) from 2022 – 2031, then

the stock is worth $390/share today – equal to the current stock price. In this scenario , Domino’s earns $610 million in NOPAT in 2031, which is 8% below 2021.

DCF Scenario 2: Shares Are Worth $712+.

• NOPAT margin falls to 14.6% (five-year average) from 2022 through 2031, and
• revenue grows at consensus estimates of 7% in 2022, 8% in 2023, and 7% in 2024, and
• revenue grows at a 3.5% CAGR from 2025 – 2031 (below its 10-year revenue CAGR of 10% from 2011 – 2021), then

the stock is worth $712/share today – an 83% upside to the current price. In this scenario, Domino’s NOPAT grows just 4% compounded annually for the next decade, less than one-third of the company’s 15% NOPAT CAGR from 2011 – 2021, and below Research and Markets’ estimated 4.9% CAGR of the global QSR market from 2022 – 2027. Should Domino’s NOPAT grow in line with historical growth rates or even the global QSR market expectations, the stock has even more upside.

Figure 8 compares Domino’s historical NOPAT to its implied NOPAT in each of the above DCF scenarios.

Figure 8: Domino’s Historical and Implied NOPAT: DCF Valuation Scenarios

DPZ Valuation Scenarios

Sustainable Competitive Advantages Will Drive Shareholder Value Creation

I think the moat around Domino’s business will enable it to continue to generate higher NOPAT than the current market valuation implies. Factors building Domino’s moat include:

• strong brand awareness
• large digital business that increases revenue and decreases labor costs
• superior supply chain efficiency
• integrated delivery service that third party providers cannot replicate
• superior profitability

What Noise Traders Miss With Domino’s

These days, fewer investors focus on finding quality capital allocators with shareholder friendly corporate governance. Instead, due to the proliferation of noise traders, the focus is on short-term technical trading trends while more reliable fundamental research is overlooked. Here’s a quick summary of what noise traders are missing:

• Domino’s is better positioned to manage the labor shortage
• Research and Markets expects the global QSR market to grow at a 4.9% CAGR through 2027
• valuation implies 83% upside if the company grows at consensus estimates

Earnings Beats or Alleviation of Labor Constraints Would Be Welcome News

According to Zacks, Domino’s has beat earnings estimates in eight of the past 12 quarters. Doing so again could send shares higher.

Should Domino’s manage the challenging labor environment better than expected, revenue and profits could soar and send its stock price with them.

Dividends and Share Repurchases Could Provide 6.0% Yield

Domino’s has increased its quarterly dividend in every year since 2012. Since 2017, Domino’s has paid $544 million (4% of current market cap) in cumulative dividends. The firm’s current dividend, when annualized, provides a 1.1% yield.

Domino’s also returns capital to shareholders through share repurchases. From 2017 to 2021, the firm repurchased $4.0 billion (28% of current market cap) worth of stock. The firm has $704 million remaining on its current repurchase authorization. If the company uses its remaining repurchase authorization in 2022, the buybacks will provide an annual yield of 4.9% at its current market cap.

Executive Compensation Plan Needs Improvement

No matter the macro environment, investors should look for companies with executive compensation plans that directly align executives’ interests with shareholders’ interests. Quality corporate governance holds executives accountable to shareholders by incentivizing them to allocate capital prudently.

Domino’s compensates executives with salaries, cash bonuses, and long-term equity awards. Domino’s performance stock units (PSUs) are tied to adjusted total segment income and its global retail sales targets.

Instead of adjusted total segment income or global retail sales, I recommend tying executive compensation to ROIC, which evaluates a company’s true return on the total amount of capital invested and ensures that executives’ interests are aligned with those of shareholders. There is a strong correlation between improving ROIC and increasing shareholder value.

Despite room for improvement in compensation structure, Domino’s executives have delivered shareholder value. Domino’s has grown economic earnings from $270 million in 2016 to $627 million in 2021.

Insider Trading and Short Interest Trends

Over the past 12 months, insiders have bought 14 thousand shares and sold 133 thousand shares for a net effect of ~118 thousand shares sold. These sales represent less than 1% of shares outstanding.

There are currently 2 million shares sold short, which equates to 6% of shares outstanding and just over four days to cover. Short interest increased 20% from the prior month.

Critical Details Found in Financial Filings by My Firm’s Robo-Analyst Technology

Below are specifics on the adjustments I make based on Robo-Analyst findings in Domino’s 10-K:

Income Statement: I made $258 million of adjustments, with a net effect of removing $150 million in non-operating expenses (3% of revenue).

Balance Sheet: I made $187 million of adjustments to calculate invested capital with a net increase of $41 million. One of the largest adjustments was $35 million in operating leases. This adjustment represented 7% of reported net assets.

Valuation: I made $5.6 billion of adjustments to shareholder value for a net effect of decreasing shareholder value by $5.6 billion. Apart from total debt, one of the most notable adjustments to shareholder value was $108 million in outstanding employee stock options (ESO). This adjustment represents <1% of Domino’s market cap.

Attractive Fund That Holds DPZ

The following fund receives an attractive rating and allocates significantly to DPZ:

• O’Shaughnessy Market Leaders Value Fund (OFVIX) – 2.2% allocation

Disclosure: David Trainer, Kyle Guske II, and Matt Shuler receive no compensation to write about any specific stock, style, or theme.

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How to Write a Business Plan for Domino's Pizza Franchise Success

By alex ryzhkov, get full bundle.

In recent years, the pizza industry has experienced significant growth, especially in the delivery market. According to Statista, the pizza delivery industry is worth $33 billion in the United States alone. One way to capitalize on this growth is by becoming a Domino's Pizza Franchisee.

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To become a successful Franchisee, you need a solid business plan that outlines your goals, strategies, and potential challenges. In this article, we'll provide you with a nine-step checklist to help you write a business plan for your very own Domino's Pizza Franchisee.

Whether you're a seasoned entrepreneur or a first-time business owner, this article will guide you through the essential steps needed to create a successful pizza franchise business, including market research, budgeting, location selection, team building, legal obligations, and competition analysis.

After reading this article, you'll be well on your way to opening a Domino's Pizza Franchisee that caters to the growing demand for fast delivery, fresh pizza, and outstanding customer service.

Conduct Market Research

Before starting any business, it is crucial to conduct market research to determine whether there is a demand for your product or service. This is especially important for a Domino's Pizza Franchisee because you want to make sure that there is a customer base that will support your investment.

Market research can help you identify your target market and understand their preferences, needs, and wants. This information can help you tailor your products, services, and marketing strategies to meet the needs of your customers.

• Start by identifying your local market and researching the demographics of your area.
• Look at your competitors and analyze their strengths and weaknesses to identify opportunities for your business.
• Survey your potential customers to gather information about their preferences and habits.
• Consider industry trends and changes that could affect your business.

Market research can also help you determine the pricing strategy you should use for your products and services. By understanding the prices that your competitors are charging, you can ensure that your prices are competitive. You can also identify pricing strategies that could help you stand out in the market, such as offering discounts to loyal customers.

In addition to understanding your target market and pricing strategy, market research can help you identify potential marketing channels that you could use to reach your customers. This could include social media, advertising, or other promotions.

Overall, conducting thorough market research before starting your Domino's Pizza Franchisee can provide valuable insights that can help you make informed business decisions and set you up for success.

Determine Your Budget

One of the most important aspects of starting a Domino's Pizza Franchisee is determining your budget. You'll need to set aside enough funding to cover franchise fees, equipment costs, employee wages, rent, and other expenses associated with starting and running your business. Here are some key tips to help you determine your budget:

• Research all the costs associated with starting and running a Domino's Pizza Franchisee. This includes franchise fees and royalties, equipment costs, rent, utilities, and employee wages.
• Create a detailed budget plan outlining all your expenses and projected revenue streams. Be sure to include all costs and keep track of your expenses as you go to stay on top of your finances.
• Secure financing through loans, investors, or personal savings. Consider starting small and expanding as your business grows.
• Look for ways to save money by buying used equipment or finding a less expensive location. However, don't compromise on quality ingredients or customer service.

Once you've determined your budget, you'll be better equipped to make informed decisions about your business and avoid financial pitfalls down the line. If you're not sure where to start, consult with a financial advisor or experienced entrepreneur to help you navigate the process.

Choose Your Location

Choosing the right location for your Domino's Pizza Franchisee is crucial for the success of your business. A prime location with high visibility and accessibility can significantly increase the number of customers who notice your store and become recurring clients.

Here are some factors you should consider when selecting a location for your franchise:

• Demographics: Study the demographics of the area, such as the population density, age, income levels, and spending patterns. Choose a location where there is a high volume of potential customers who are likely to patronize your store.
• Competition: Analyze your competition in the area. Choose a location that has low competition or a gap in the market, allowing you to offer something different or better than your competitors.
• Accessibility: Ensure that your location is easy to reach and has enough parking spaces for your customers. Also, choose a location that is near commercial areas like shopping malls and business districts.
• Rent and Lease Terms: Consider the lease terms and rental rates of potential locations. Choose a location with reasonable lease terms and monthly rent that aligns with your budget.
• Consider purchasing or leasing a location that was previously a fast-food chain or pizza restaurant. The existing infrastructure may already be in place, reducing your costs and time to start up.
• Partner with a real estate broker to help you find a suitable location. They can provide insights and suggestions based on their years of expertise in the industry.
• Visit the location at different times of the day to assess foot traffic and the flow of customers in the area.

Once you have identified a potential location, conduct a feasibility study to assess if it aligns with your business objectives. Gather information from local authorities, evaluate the competition and assess the potential for growth. A well-considered location can take your Domino's Pizza Franchisee a step closer to success.

Apply For Franchise

Once you have conducted your market research and determined your budget, it's time to apply for the Domino's Pizza Franchise. Applying for a franchise is a multi-step process, but if you follow each step carefully, you'll be on your way to owning and operating your own successful Domino's Pizza franchisee!

• Contact the Domino's Pizza Franchise team to receive a Franchise Application Form.
• Review the form carefully and provide all the required information accurately and completely.
• Make sure to attach all necessary documents such as your financial statements and business plan.

One of the key requirements for applying for a Domino's Pizza Franchise is meeting their financial requirements, which include a minimum net worth of at least $250,000 and a minimum liquid cash requirement of $75,000. Furthermore, you'll be required to present a comprehensive business plan that covers all aspects of your proposed franchise idea.

• Prepare a robust business plan that outlines your vision, finances, marketing strategy, and operational plan.
• Include details of your proposed location, menu, target audience, and marketing channels.
• Highlight your unique selling point, such as offering fresh ingredients or a loyalty program.
• Showcase your skills and qualifications that make you a strong candidate for a Domino's Pizza Franchisee.

After submitting your application, you'll have to wait for a response from the Domino's Pizza Franchise team. If your application is successful, you'll be invited for an interview where you'll be given an opportunity to present your business plan and discuss the details of your franchise proposal. If you pass the interview, you'll be offered a franchise agreement and can proceed with securing your location and building your team.

• Be patient and diligent throughout the application process, as it may take several weeks or even months to receive a response.
• Be fully prepared for the interview by rehearsing your presentation and gathering any additional information that may be required.
• Be open to feedback and suggestions from the Domino's Pizza Franchise team, as they have a wealth of experience and expertise in the pizza industry.
• Be ready to be committed to the brand and faithfully represent it in every aspect of your franchise operation.

Develop A Business Plan Outline

Once you have identified a franchise opportunity and have completed your research, it's time to create a business plan outline . A business plan outlines how a new business will operate, including financial projections, marketing strategies, and management structures. Your business plan will be an essential tool to guide you through the process of starting and running your Domino's Pizza franchise.

Here are some tips to help you develop a solid business plan outline:

• Define Your Business: Clearly define what your business is and what products or services you will offer. Consider your unique selling proposition and how you will differentiate yourself from other pizza franchises.
• Identify Your Target Market: Identify your target demographic and understand their preferences and buying habits. This will help you tailor your marketing efforts and menu offerings to appeal to your audience.
• Establish Your Financial Plan: Identify all your startup and ongoing costs and determine how you will fund your business. You'll also need to project your income and expenses to determine your break-even point and potential profitability.
• Create a Marketing Plan: Develop a marketing strategy that will help you reach your target audience effectively. Consider advertising, PR, social media, and other methods to establish your brand and attract customers.
• Assess Your Management Structure: Identify the roles and responsibilities of each member of your team, including yourself. Determine how you will train and manage your employees to maintain quality standards and customer service.

Your business plan outline should cover all significant aspects of your business. It should be clear and concise, and serve as a reference guide that you can refer to throughout your business operations. Your business plan will also help you secure financing from potential lenders or investors.

Remember, your business plan is not set in stone, and you can revisit and revise it regularly. It's a living document that should reflect changes in your business as it grows and evolves over time. A well-crafted business plan outline is critical to the success of your Domino's Pizza franchise.

Assemble A Team

Building a strong team is crucial to the success of your Domino's Pizza Franchisee. Your team will be responsible for customer service, delivery, food preparation, and keeping your store running smoothly. You should look for individuals who are passionate about customer service, have experience working in the food industry, and are team players.

Tips for assembling a strong team:

• Look for individuals who share your vision and passion for providing great customer service and delivering fresh pizza.
• Consider hiring individuals with experience in the food industry or who have worked for a pizza franchise previously.
• Look for team players who have strong communication and problem-solving skills.
• Make sure your team has a positive attitude and is willing to go above and beyond for customers.

You should start by creating job descriptions for each position and post them on job boards, social media, and your website. You can also host job fairs or reach out to local colleges or culinary schools to find potential hires.

During the interview process, make sure to ask candidates about their experience, skills, and passion for customer service. You should also conduct a background check and verify their references.

Once you have hired your team, it's important to invest in their training and development. This will help them gain the necessary skills and knowledge they need to provide great customer service and make your store a success.

Tips for training your team:

• Create a comprehensive training manual that covers all aspects of your business, from food preparation to customer service.
• Provide on-the-job training and coaching to ensure your team understands your expectations and is comfortable with their responsibilities.
• Host regular team meetings to discuss new products, promotions, or any issues that arise.
• Encourage your team to provide feedback and ideas for how to improve your store's operations and customer service.

Assembling a strong team takes time and effort, but it's essential to the success of your Domino's Pizza Franchisee. With the right team in place, you can provide exceptional customer service, deliver fresh pizza, and build a loyal customer base.

Decide On Products And Services

Since you will be running a Domino's Pizza Franchisee, it is essential to decide on the products and services that you will be offering. You should focus on providing fresh and high-quality pizza to your customers and ensure that your ingredients are always of the best quality.

Moreover, it is important to offer a variety of pizzas to cater to different tastes and preferences of your customers. This could include vegetarian, meat-lovers, and gluten-free options, among others. It is also useful to research local culinary trends and preferences to understand what kind of pizzas are most popular in your area.

• Create a menu that is visually appealing and easy to read.
• Offer promotions and deals on your menu or through a loyalty program to attract customers.
• Provide delivery services to make it convenient for customers to order from home.

In addition to pizzas, you could consider offering desserts, salads, sides, and beverages to complement your pizza menu. This will make your establishment a one-stop-shop for customers looking for a complete meal.

Furthermore, you could also consider offering catering services for events and parties, which could potentially help increase your revenue and profits.

Make sure you have a clear understanding of the costs and logistics involved in offering additional products and services. You should also have a good idea of how much preparation time is required for each item and how this could impact your overall operations.

• Be mindful of storage and inventory requirements when adding new products and services.
• Consider conducting taste tests and surveys to receive feedback from customers about which pizza varieties and additional items they prefer.

In summary, deciding on the products and services for your Domino's Pizza Franchisee is a crucial step in developing a successful business plan. Focus on providing fresh, high-quality pizza with a variety of options, while considering offering additional items that complement your menu. Keep in mind the costs, logistics, and preferences of your customers as you make these decisions.

Research Legal Obligations

Before starting any business, it is crucial to research and comply with all legal obligations. As a Domino's Pizza Franchisee, you need to follow certain rules and regulations set by the franchisor and the government.

First, you should consult the franchise agreement provided by Domino's Pizza to understand the legal requirements and restrictions. The agreement includes details on the nature of the business and services, operational standards, and other important information.

• Read the franchise agreement thoroughly and seek legal advice if necessary.
• Understand the territorial rights and exclusivity clauses of the agreement.
• Review and comply with the guidelines for marketing and advertising set by the franchisor.

You should also research and comply with the government regulations related to the food industry. In the US, the Food and Drug Administration (FDA) and the Department of Agriculture (USDA) have set certain safety standards and guidelines for food businesses. You need to obtain a food handling and safety license from the local health department and comply with minimum wage and other labor laws applicable to your business.

• Obtain licenses and permits required by the state and local authorities.
• Follow the safety guidelines and maintain a clean and hygienic workplace to avoid legal issues and penalties.
• Comply with labor laws and pay your employees appropriately.

You should also consider insurance coverage to protect your business from potential legal and financial risks. Consult an insurance agent to find the appropriate insurance coverage based on your business needs.

• Get insurance coverage for public liability, property damage, and worker's compensation.
• Protect your intellectual property rights such as trademarks and copyrights.
• Consult a lawyer to draft legal documents such as employment contracts and non-disclosure agreements.

Researching and complying with legal obligations not only avoids legal issues and penalties but also helps you run your business successfully and ethically. Take the time to understand and fulfill all legal requirements set by the franchisor and the government to ensure your business runs smoothly and profitably.

Analyze Competition

Competition analysis is an essential part of the business plan for any Domino's Pizza Franchisee. By knowing your competition, you can make informed decisions on how to stay ahead in the industry, offer competitive products and services, and stay profitable. Here are some crucial steps to follow when analyzing the competition:

• Identify your competitors: Start by identifying the existing Domino's Pizza franchised stores and other pizza delivery services in your locality. Begin by examining their websites, ordering pizzas from their stores, and researching their social media pages.
• Compare their products and services: Pay attention to the products and services your competitors provide. Analyze their menu items, prices, delivery options, and whether they have added any new products or services to stay competitive.
• Examine their marketing strategies: Study your competitor's marketing and advertising strategies. Understanding what promotions they are offering and the channels they are using will help you come up with new and innovative ways to differentiate your brand and stay ahead of the competition.
• Identify their strengths and weaknesses: Identify your competitors' strengths in the areas of customer service, product quality, and delivery speed. Also, consider their weaknesses, such as poor reviews, delivery delays, and quality issues, so you can position your business to provide better services.
• Visit your competitors' stores physically to observe their operations and gather first-hand information.
• Speak to their customers to gain valuable insights into their experiences.
• Use public resources like Google Reviews, Yelp, and Zomato to read reviews from customers.
• Execute a SWOT analysis to identify your own strengths, weaknesses, opportunities, and threats in comparison with your competitors.

In conclusion, analyzing your competition is crucial to creating an effective business plan for your Domino's Pizza Franchisee. By identifying your strengths and weaknesses, assessing your competitor's strategies, and learning from them, you can position your business for success and stand out in the market.

Starting a Domino's Pizza franchisee requires careful planning and research to ensure its success. By following these 9 steps, you can develop a comprehensive business plan that will help you achieve your goals. Conduct thorough market research, determine your budget, choose a suitable location, apply for a franchise, develop a business plan outline, assemble a team, decide on products and services, research legal obligations, and analyze the competition. With these steps in place, you can open a successful franchise that offers fresh pizza, fast delivery, and great customer service.

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Domino’s Pizza Business Model: Operations and Revenue Sources

When I say “pizza”, what brands come to mind? Of course, it would be Domino’s. Don’t be surprised to learn that Domino’s sells 3 million pizzas worldwide . Now, you might be wondering how much money Domino’s makes per day.

Well, in this article we will answer all the questions related to Domino’s business model.

Domino’s – Introduction 

Domino’s is an internationally  well -known brand for ‘Pizza’ founded by Tom Monaghan, James Monaghan on 9 December 1960, Ypsilanti, Michigan, United States. 

Domino’s is famous for its menu of pizza, pasta, chicken dishes, sandwiches, and various side items. They are known for their commitment to delivering pizza quickly and efficiently, with a focus on delivery and carryout services.

Here are the additional details about Domino’s: 

How Domino’s Operates? 

In simple words, Domino’s operates through offline and online channels. Offline, customers visit physical stores in person to order, pay, and dine in or take away. Online, they use the website or app for menu selection, address and payment input, real-time tracking, and delivery. This dual approach accommodates diverse customer preferences and ensures accessibility.

Here is the distinction between online and offline operations of Domino’s: 

Online Operations – Dominos 

Online Ordering

Customers can place orders online through the official Domino’s website or mobile app. They can create an account or place an order as a guest.

Menu Selection

Online customers browse the digital menu, select the items they want, and customize their order with different toppings, crust options, and side dishes.

Delivery or Carryout

Customers have the option to select delivery or carryout at their designated location, where they can pick up their order from the nearest Domino’s store.

Address and Payment Information

Online customers provide delivery addresses and payment information securely through the website or app.

Real Time Tracking

Domino’s offers a “Pizza Tracker” feature, which allows online customers to track the progress of their delivery order in real time, from preparation to delivery.

Payment Process

Online customers can pay for their orders using various online payment methods including credit/debit cards, digital wallets and cash on delivery (if available).

Confirmation and Delivery

After placing an online order, customers receive confirmation details, and delivery drivers are dispatched to deliver the food to the specified location.

Feedback and Reviews

Domino’s Online encourages customers to provide feedback and reviews about their experience, which helps the company improve its service and quality.

Offline Operations – Dominos

Here’s how Domino’s works offline:

Visit a Franchise Store

Customers can choose to dine in or visit a nearby Domino’s store to place their order in person.

Placing Order

At the store, customers can interact with employees, review the menu and place their order by specifying the type and size of pizza or other menu items.

Customers can pay for their orders at the store using cash, credit/debit cards or other available payment methods.

Food Preparation

Domino’s employees in stores prepare orders to customer specifications. They assemble the pizzas, cook them and ensure that quality standards are followed.

Once the order is prepared, it is carefully packed into Domino’s-branded containers for carryout customers.

For dine-in customers, food is served on plates, and they can enjoy their meals in the store.

Business Model of Domino’s 

Domino’s business model is streamlined, focusing on two primary routes: online pizza sales and franchised stores.

Customer Segments

Domino’s Pizza caters to a huge global customer base with a primary focus on youth, working professionals and event organizers. The brand strategically designs marketing campaigns targeting major events, offering substantial discounts and promotions, thereby increasing sales and increasing brand recognition around the world.

Value Proposition

Domino’s provides value to its customers through several means:

• Digital ordering : Domino’s offers online ordering through a dedicated app and website, taking advantage of the preference of the majority of American adults for online pizza ordering. The brand ensures quick delivery with exclusive deals.
• Global expansion : Operating in more than 85 markets around the world, including the Americas, Africa, the Middle East and Asia, Domino’s offers a wide reach, providing access to its famous pizza products.
• Ordering ease and accessibility : Users can easily order via phone, app, or in-store, customizing their experience to suit their preferences.
• Efficient Supply Chain Management : Domino’s boasts an integrated flour manufacturing and supply chain system, which guarantees quality and uniformity of offerings across its franchise stores.

Special Associate

Domino’s Pizza cooperates with a variety of partners, including:

• Vendors : Ensuring continuous supply of high quality materials and supplies.
• Franchise Partners : Facilitate brand growth through franchise operations.
• Marketing Partners : Strategic tie-ups with well-known brands like Primo, Kagome, Vizi and others, leveraging their wide customer base to strengthen Domino’s presence in the market.

How does Domino’s make money? 

Domino’s main source of income is the sale of pizza and other menu items to customers. Domino’s generates a significant portion of its revenue from pizza sales, which is the core of its business. This includes a wide variety of pizzas with different sizes, crust types and toppings, as well as additional revenue from side dishes, desserts and beverages.

While other revenue streams such as delivery fees, carryout, and franchise fees are important, pizza sales remain the primary and largest source of income for Domino’s.

In conclusion 

This is the business model of Domino’s Pizza. I hope you will understand this topic quickly and effectively. Unfortunately, we can’t tell you Domino’s income, because they never disclose it anywhere.

Pro Tip : If you have a food business and want to grow your business, contact us. We are a digital marketing and IT consultancy agency that provides marketing strategies for business.

Hi, I am Tarun, and I have been working as a Digital Marketing Executive at Waffle Bytes since 2021. I am passionate about PPC and Search Engine Optimization (SEO), and I consider myself a philosopher of these field.

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Opening a Domino’s Pizza Franchise: Info and Costs

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In the U.S., it’s almost impossible to not have heard of Domino’s. A staple of main streets and sports arenas alike, Domino’s has a wide reputation and a steady fan base across the country. If you’re curious about franchising, opening a Domino’s pizza franchise may be just the right endeavor.

In this guide, we’ll cover the details of opening a Domino’s franchise, including cost and fees, corporate support, framework and more. Having all of this information will help you make an informed decision on whether owning a Domino’s franchise is the right move for you.

What to know about the Domino's franchise

As one of the largest pizza chains in the country, Domino’s started as a single pizza shop in Michigan in 1960. The chain quickly grew, and it’s now a worldwide brand, with over 17,000 franchise units in the U.S. and across six continents in 90 international markets.

Although Domino’s started as just pizza, they’ve branched out quite a lot into sides and appetizers, such as buffalo wings, breadsticks, desserts and more.

They’ve also integrated technology into their brand, enabling customers to easily order and then track their pizzas through the Domino’s app. They are often launching customer service initiatives, such as their new “Delivery Insurance,” which are popular with customers and add to creating a loyal customer base.

Many Domino’s franchisees own more than one Domino’s location — more than half, in fact. Domino's very heavily favors internal candidates for opening up franchises, and generally puts more stringent requirements on external candidates. Additionally, franchise agreements last for 10 years.

One of the keys to finding the right restaurant franchise opportunity for you is understanding the corporate framework and expectations of a potential franchise. Be sure to learn as much as possible about this franchise — from costs to corporate support to your responsibilities — during the discovery phase, and be sure to read the franchise disclosure document carefully.

Does Domino's make money?

Domino’s surpassed earnings expectations in 2019, with net sales of $1.15 billion, rising 6.3%. They also had a same-store sales growth of 3.4%, which indicates that many of their franchise locations are doing well. The number of Domino’s stores is growing, too — they added 141 net new restaurants in the fourth quarter of 2019 alone. Throughout 2019, their carry-out sales also grew almost 4%.

Types of Domino's franchises

There are a few different types of Domino’s franchise stores that you can consider as you’re looking into Domino’s franchise opportunities. The type of store that you’d like to open will affect your initial investment and total cost as well its location.

Traditional store: These are retail outlets like the ones you are most used to — often in shopping centers or other retail hubs — that have ample parking for both customers and delivery drivers. They offer both in-store dining as well as carry-out and delivery.

Non-traditional store: These are the locations that you see within other, larger locations, such as those in malls, office buildings, stadiums and more. These often only offer carry-out, though some do have a few seats inside.

Transitional stores: These locations are located in smaller markets and have more scaled-back, customized menus to meet this smaller client base. They begin as carry-out-only stores, but may be transitioned to a traditional store once the market is proved out.

Training and education

Domino’s franchisees are required to complete a training course at Domino’s corporate headquarters: four days of Pizza Prep School as well as a Franchise Development Program that lasts five days. Franchisees will also undergo in-store training that will last from six to eight weeks.

The type and length of the training you will undergo depends on how much experience you have within Domino’s as a manager (including Domino’s Pizza High Performance University Crew and Manager Development Programs).

How much do you need?

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We’ll start with a brief questionnaire to better understand the unique needs of your business.

Once we uncover your personalized matches, our team will consult you on the process moving forward.

Domino's franchise costs

How much is a Domino’s franchise? Costs come in a few different categories, including one-time, upfront costs as well as ongoing fees, such as the all-important franchise royalty fee. We’ll cover some of the major costs below, but keep in mind that these numbers reflect averages or estimates, and your area will have the most significant bearing on how much you’ll actually pay.

One-time costs

Initial investment: Initial investments will vary quite a bit based on your location and the type of Domino’s you want to open. On the low side, you can expect to invest around $145,000; on the high end, the total can climb above $500,000.

Initial franchising fee: The Domino’s initial franchise fee is $10,000 for building a new store or refranchising a closed store. Do note that Domino's sometimes charges a "reservation fee" of $25,000. The franchise disclosure document that you receive will have more details on this additional fee.

Net worth: The current net-worth requirement is $250,000.

Cash liquidity: The liquid capital required is $75,000.

Ongoing fees

As with the vast majority of franchises, franchisees will be responsible for ongoing franchise fees. These include:

Royalty fee: The franchise royalty fee, which is the main source of revenue for franchisors, is about 5.5% of a store’s weekly gross sales.

Marketing and advertising fee: You can expect to pay around 3% to 4% of your store’s weekly gross sales for marketing and advertising supported by corporate, but this fee may be higher.

Be aware that fees don’t end here: You’ll have other various fees — such as real estate fees, inventory and supply chain and fixtures — that you’ll either have to pay once or as ongoing fees. Again, carefully review your franchise agreement for the most updated, accurate picture of fees and expectations.

Franchise financing

Many people who are looking to open a franchise location need franchise financing. This can cover both initial costs, such as the franchise fee and fixtures; real estate; and any other major costs.

Like many other franchises, Domino’s doesn’t offer direct or indirect financing for their franchisees, so you’ll have to look elsewhere if you need capital to open a Domino’s franchise. Third-party lenders are often a good option, since they provide loans including equipment financing , term loans, personal loans for business and more.

A strong financing profile, such as good credit and any other history in business, will help you secure a business loan . These credentials will also help determine how much capital you will receive.

Domino's franchise pros and cons

As you’re considering the full picture of whether or not to open a Domino’s pizza franchise, you’ll want to consider both the advantages and disadvantages of franchising in general, as well as those specific to just the Domino’s brand. Let’s take a closer look.

Well-rated: Domino’s is often well-rated as a top pizza franchise to own.

Minority and veteran discount: Franchisees who are veterans, minorities and women might have opportunities to receive significant discounts on the initial franchise fee and opening costs. This is especially true for internal candidates with a year of management experience.

Opening cost: Compared to some other fast-food franchises, Domino’s franchise costs are on the low side.

Absentee ownership: If you’re looking for a franchise that’ll let you be offsite, you won’t be able to do so with a Domino’s franchise.

Internal candidates: Domino’s gives heavy preference to internal candidates, which can make requirements more stringent if you don’t come from within the Domino’s management ecosystem.

Territory: Domino’s does not offer territory protection, which shields franchisees from other approved franchise locations coming into their market.

LLC Formation

The bottom line

If you’re looking to buy a franchise, there are a lot of pros to Domino’s franchises. As with any franchise, you’ll want to be sure that you request the full franchise disclosure document so you know exactly what’s expected of you from Domino’s’ corporate headquarters as well as the most current fees you are paying.

Also note that Domino’s gives very strong preference to internal candidates who want to open a franchise. If you’re very interested in a Domino’s franchise as an outside candidate, you might want to consider starting within the company as a worker and then applying for a franchise from there. It’s a good way, too, to find out what the day-to-day routine at a Domino’s is really like.

Either way, be sure to speak to as many current and former Domino’s franchisees as possible during your discovery process to get a firsthand look at what your experience will be like. If you ultimately find that Domino’s isn’t the right franchise for you, there are plenty of other food franchises to explore, as well.

This article originally appeared on JustBusiness, a subsidiary of NerdWallet.

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How Domino’s Pizza Reinvented Itself

• Bill Taylor

And moved its share price from $8.76 to over $160.

I spent the last 18 months researching and writing a book on how organizations and leaders can do extraordinary things, even if they operate in pretty ordinary fields. You don’t have to be a programmer in Silicon Valley or a gene splicer in biotech to unleash exciting innovations and create huge value. Instead, you can rethink what it means to be in the retail-banking business, or the industrial-distribution business, or the office-cleaning business. Yet little did I know that some of the most extraordinary innovations I’ve seen would take place in the pizza business.

• Bill Taylor  is the cofounder of Fast Company  and the author, most recently, of  Simply Brilliant: How Great Organizations Do Ordinary Things in Extraordinary Ways .   Learn more at williamctaylor.com.

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Domino’s Pizza charts new direction with five-year plan

ANN ARBOR, MICH. — Domino’s Pizza, Inc. on Dec. 7 introduced a five-year plan called “Hungry for MORE” that establishes three goals: annual global retail sales growth of over 7%, which compares to current guidance of 4% to 8%, annual global net unit growth of over 1,100 stores and annual operating income growth of over 8%.

Globally, Domino’s currently has annual sales of $18 billion and over 20,000 stores with 99% being franchised. Operating income was $768 million in the fiscal year ended Jan. 1, 2023.

MORE is an acronym for “most delicious food,” “operational excellence,” “renowned value” and “enhanced by best-in-class franchisees.”

“We have the most delicious food in the business, but we don’t talk about it enough,” said Russell J. Weiner, chief executive officer, at an investor day on Dec. 7. “We talk about value. We talk about technology. We haven’t romanced our products the way we know that we can, and so you’re going to see us really take that up a level in our marketing.”

The pizza chain plans to launch at least two new products a year.

“You’re going to see two-plus product windows, product news from us in ‘24 and going forward, to drive that deliciousness, to drive that crave-ability,” said Joseph H. Jordan, president of US and global services.

New product innovation was introduced in several international markets this year. In Australia, a smokehouse range pizza included pork belly barbecue. Chicken Mexicana loaded potato wedges are offered in the United Kingdom. In South Korea, a pizza comes with shrimp toppings.

Domino’s will avoid limited-time offerings.

“What I firmly believe until proven otherwise, is a series of LTOs, limited time offers, is not the best for operations because essentially what you’re doing every month or every other month is you’re retraining your staff on a new product, which means their amount of training on the existing product is not maybe where it should be,” Mr. Weiner said.

To improve operations, Domino’s will focus on the accuracy of the estimated time an order is ready, the correct temperature of the food and the consistency of delivery service.

“So, imagine two different delivery experiences, one where you get it 15 minutes the first week, you get it in 35 minutes the next week, an average of a 25-minute delivery time,” Mr. Jordan said. “That’s pretty good. Another customer gets it in 25 minutes both times. That’s a more consistent experience, and we know from looking at our stores, looking at comparable stores, that the more consistent store actually ends up driving incremental sales and delivery. The customers who are more satisfied come back more often.”

Domino’s also is striving for “just-in-time” pizza.

“Why should you start making a pizza if you know a driver is not going to be back, right?” Mr. Weiner said. “And, so, this idea of just-in-time pizza-making talks to the efficiency, but it talks about the decreased variability in which we’re going to get customers their pizza, which as we know is so important for repeat.”

To continue to drive value, Domino’s will focus on mix-and-match deals, loyalty programs and working with aggregators like Uber Eats and Postmates. The aggregator apps have the capability to target consumers who have higher incomes, are less sensitive to price and younger, according to Domino’s. What the company called “the aggregator marketplace” is a $1 billion net incremental opportunity over the next three years, according to Domino’s.

“The aggregator marketplace — we're entering that new marketplace,” Mr. Weiner said. “That’s a very different customer, and so while the best prices will be on dominos.com, this is a customer that’s a lot less price sensitive, and we think going into next year with some of the headwinds the restaurant industry is going to be facing, this is really positive for Domino’s pizza. Now we’ll still be value; we’ll be at a premium on these sites, but we’ll still be a value to aggregator customers.”

Consumers used to have to spend $10 to earn loyalty program points, but Domino’s earlier this year reduced that to $5. Loyalty program members since then have increased by over 1 million, Mr. Jordan said.

Technology development also will play a role in the five-year plan. In the United States currently, digital sales account for about 90% of total delivery sales and about 75% of total carryout sales.

“We now have 18 ordering platforms so that customers can order in whatever way is best for them,” said Kelly E. Garcia, chief technology officer.

A program to create new websites and apps should be completed in the fourth quarter of 2024. Domino’s wants to make its ordering system “hyper-personalized.”

“Deliciousness and value are innately personal to each individual,” Mr. Garcia said. “What I find delicious is not what you find delicious. What I think is valuable is not what you think is valuable. So, we have an opportunity to provide deeper levels of personalization that will lower friction in the experiences and ultimately drive frequency and optimize lifetime customer value.”

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Business Plan Template for Dominos

• Great for beginners
• Ready-to-use, fully customizable Subcategory
• Get started in seconds

Starting a new Domino's Pizza franchise or expanding an existing one requires a solid business plan that covers all the essential aspects. ClickUp's Business Plan Template for Dominos is specifically designed for entrepreneurs and business owners in the pizza industry, providing them with a comprehensive and organized framework to outline their strategies, financial projections, target market analysis, and operational plan. With this template, you can easily present a professional and compelling business plan to potential investors or lenders, ensuring that your Domino's venture gets the support it needs to succeed. Take control of your pizza empire today with ClickUp's Business Plan Template for Dominos!

Business Plan Template for Dominos Benefits

A business plan template for Dominos can be a game-changer for entrepreneurs or business owners looking to start or expand their pizza franchise. Here are some of the benefits of using this template:

• Streamlined process: The template provides a structured format, making it easier to organize your strategies, financial projections, target market analysis, and operational plan.
• Professional presentation: With a well-designed template, you can present a comprehensive and polished business plan to potential investors or lenders, increasing your chances of securing funding.
• Industry-specific insights: The template is tailored specifically for the pizza industry, providing valuable insights and benchmarks to help you make informed decisions and stay competitive.
• Time-saving: By using a pre-made template, you save time and effort on formatting and layout, allowing you to focus on the content and fine-tuning your business strategy.

Main Elements of Dominos Business Plan Template

For Domino's pizza franchise owners looking to create a comprehensive business plan, ClickUp's Business Plan Template has got you covered!

Here are the main elements of ClickUp's Business Plan Template for Dominos:

• Custom Statuses: Keep track of your progress with task statuses like Complete, In Progress, Needs Revision, and To Do to ensure that every aspect of your business plan is accounted for.
• Custom Fields: Utilize custom fields such as Reference, Approved, and Section to add relevant information and organize your business plan effectively.
• Custom Views: Explore different views like Topics, Status, Timeline, Business Plan, and Getting Started Guide to visualize your business plan from various perspectives and ensure a comprehensive overview.

With ClickUp's Business Plan Template, you can confidently present your well-structured and professional business plan to potential investors or lenders for your Domino's pizza franchise.

How To Use Business Plan Template for Dominos

If you're looking to create a comprehensive business plan for your Domino's franchise, follow these six steps using the Business Plan Template in ClickUp:

1. Executive Summary

Start by writing a compelling executive summary that provides an overview of your business. Include information about your mission, target market, competitive advantage, and financial goals. This section should be concise and grab the reader's attention.

Use the Docs feature in ClickUp to create a well-structured executive summary that highlights the key points of your business plan.

2. Company Description

In this section, provide a detailed description of your Domino's franchise. Include information about its history, location, size, and ownership structure. Explain why you chose to open a Domino's franchise and how it aligns with your goals.

Use the Docs feature in ClickUp to outline the company description, making sure to include important details about your Domino's franchise.

3. Market Analysis

Conduct a thorough analysis of the pizza industry in your target market. Identify the size of the market, key competitors, and trends that may impact your business. Use this information to develop a strategy for positioning your Domino's franchise and attracting customers.

Use the Table view in ClickUp to organize your market analysis, including data on market size, customer demographics, and competitor analysis.

4. Operations and Management

Outline the day-to-day operations of your Domino's franchise and describe the roles and responsibilities of key management personnel. Include information about the training and support provided by Domino's corporate, as well as any additional training or certifications your team will need.

Use the Board view in ClickUp to create tasks and assign responsibilities for different aspects of your franchise's operations and management.

5. Marketing and Sales Strategy

Develop a marketing and sales strategy to promote your Domino's franchise and attract customers. Outline the tactics you will use to reach your target market, such as online advertising, social media marketing, and local partnerships. Include a budget for marketing expenses.

Use the Automations feature in ClickUp to set up reminders and notifications for marketing tasks, ensuring that you stay on top of your marketing and sales efforts.

6. Financial Projections

Create financial projections for your Domino's franchise, including revenue forecasts, operating expenses, and profit margins. Consider factors such as sales growth, labor costs, food costs, and overhead expenses. Use these projections to determine the financial feasibility of your business.

Use the Goals feature in ClickUp to set financial targets and track your progress towards meeting them. Update your financial projections regularly to reflect actual performance.

By following these six steps and utilizing the features in ClickUp's Business Plan Template, you'll be well on your way to creating a comprehensive and effective business plan for your Domino's franchise.

Get Started with ClickUp’s Business Plan Template for Dominos

Entrepreneurs or business owners looking to start a new Domino's Pizza franchise or expand an existing one can use the ClickUp Business Plan Template to create a comprehensive and organized business plan to present to potential investors or lenders.

First, hit "Add Template" to sign up for ClickUp and add the template to your Workspace. Make sure you designate which Space or location in your Workspace you’d like this template applied.

Next, invite relevant members or guests to your Workspace to start collaborating.

Now you can take advantage of the full potential of this template to create a successful business plan:

• Use the Topics View to outline different sections of your business plan, such as Executive Summary, Market Analysis, Financial Projections, and Operational Plan
• The Status View will help you track the progress of each section, with statuses like Complete, In Progress, Needs Revision, and To Do
• The Timeline View will allow you to set deadlines and milestones for each section of your business plan
• Use the Business Plan View to get a comprehensive overview of your entire plan, including all sections and their statuses
• The Getting Started Guide View will provide you with step-by-step instructions on how to use the template and create an effective business plan
• Customize the template by adding custom fields like Reference, Approved, and Section to provide additional information and organization to your plan
• Monitor and analyze your progress to ensure your business plan is thorough and compelling.
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Domino's Pizza, Inc., branded as Domino's, is an American pizza restaurant chain founded in 1960. The corporation is headquartered at the Domino's Farms Office Park in Ann Arbor, Michigan, and incorporated in Delaware. In February 2018, the chain became the largest pizza seller worldwide in terms of sales.

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How Domino's plans to get its US business back on track

After reporting negative same-store sales during the first quarter, the company is looking to boost menu pricing, lean into third-party call centers and offer delivery drivers more flexibility.

2022 is shaping up to be a difficult year for Domino’s U.S. business. Same-store sales fell 3.6%, the sharpest drop in years, due to the impact of inflation and a shortage of delivery drivers.

This first quarter performance comes in stark contrast to the same-store sales boosts Domino’s reported during the early quarters of the pandemic, including a 17.5% spike during Q3 2020 .  Pizza delivery skyrocketed during the height of the COVID-19 crisis when people were stuck at home, but now it lags behind carryout. 

Carryout same-store sales, however, are up 24% compared to Q1 2019, and up 11.3% compared to Q1 2021, Domino’s CEO Ritch Allison said on Thursday during the company’s earnings call . Online carryout orders drive higher tickets and “a lower cost to serve” than orders placed over the phone, he said. Carryout overall is also cheaper than delivery because delivery drivers aren’t needed.

The company’s $3 tip campaign , which offers $3 coupons to customers who pick up their online order to use in the following week, led to a 5 percentage point increase in online carryout business, Domino’s COO and U.S. president Russell Weiner said. Weiner will replace Allison as CEO in May . 

Domino's U.S. same-store sales declines in Q1 2022

Delivery isn’t Domino’s only pain point — inflation and higher food basket costs are strangling margins and increasing costs. The pizza chain expects store food basket inflation to range from 10% to 12% compared to 2021 levels, Domino’s CFO Sandeep Reddy said. 

“While none of us were satisfied with U.S. sales in Q1, I am confident in our ability to get back to the growth levels we and our franchisees expect. As indicated by our carryout performance and the strength of our business in stores that were less constrained by labor shortages, we believe the demand for Domino's remains strong,” Weiner said. 

To combat cost and labor challenges, the company is rethinking pricing, adjusting its cost structure and boosting its capacity to serve customer demand and generate incremental sales growth, Reddy said. 

“Once implemented, we expect the initiatives … to enable annual operating income margins to recover to pre-pandemic levels post-2022,” Reddy said. 

Domino’s delivery slips

Same-store sales for the chain’s delivery channel declined 10.7% during the quarter compared to Q1 2021 due to order declines, partly offset by higher tickets, Allison said. Many stores struggled to meet customer demand for delivery, and stores had to reduce hours. These closures led to a cumulative total of six days out of operation, Reddy said. 

The gap between the company’s top 20% of stores and bottom 20% of stores has now widened to 17%, Allison said. 

“It is this disparity in delivery performance that is driving the overall contrast and performance across our U.S. business,” he said. “We are keenly focused on lifting up the underperforming stores.”

Customer demand has remained strong, which has been encouraging for Domino’s, executives said. Capacity constraints, however, have made it difficult to meet this demand, and U.S. businesses have had to reduce hours, not answer phones and restrict online orders, Weiner said. 

“These bottlenecks are largely in our and our franchisees’ control. And as we distance ourselves from the peak of Omicron’s impact, we're addressing them together with our franchisees,” he said.

Menu price increases can reduce delivery costs

Domino’s has been exploring changes to menu pricing at different levels to allow franchisees and corporate stores to better cover labor and food cost increases, Reddy said.

In March, Domino’s raised its pricing for its $5.99 Mix-and-Match delivery offer for the first time in 12 years to $6.99 each for any two or more items on this menu, Allison said. The pricing strategy is expected to help cover the increased costs associated with delivery, Allen said.

“This approach can allow our franchisees to achieve balanced growth across ticket and orders, which is key to driving profitable long-term growth for their businesses,” he said. 

While menu prices are going up for some items, the company is also planning to offer more promotions. 

Domino’s will bring back its “boost weeks,” which typically include heavily couponed offerings , this summer. While it will take time to reach full staffing levels, most of its franchisees support these boost weeks and more aggressive promotions, Weiner said. 

“Boost weeks are key to building our business,” Weiner said. “They drive customer acquisition and grow our loyalty program.” 

Creating a more efficient labor model 

Domino’s will use call centers and offer more flexibility to delivery drivers to create more efficient labor models, executives said. The company has been working with a third-party call center at some stores, and plans to expand this partnership to help stores focus on production and delivery during peak hours, Weiner said. By mid-May, Domino’s expects to have between 2,500 and 3,000 stores using these call centers in some capacity, he said. 

Additionally, the company will be working with its franchisees to return to standard operating hours, and rolled out a service assessment program at the end of the quarter to provide specific service improvement objectives based on individual results, Weiner said. 

Domino’s is also examining driver labor, including analyzing how delivery has changed because of the pandemic, he said. 

“We're still doing the work of this important initiative and believe many of the solutions for how we can evolve and improve our driver staffing already exist within our system as evidenced by the performance of our top quintile stores,” Weiner said. 

These top-performing stores typically hire more quickly, and are in markets that do more fortressing. Their drivers are also on the road more, and their general managers have been on staff longer, Weiner said. 

Domino’s is boosting its marketing to attract more drivers, such as a television commercial that highlights a 27-year-old franchisee who started her Domino’s career as a driver, Weiner said.

“If you want to be a general manager at Domino's and an owner at Domino's it all starts as being a driver,” Weiner said. “Marketing staffing is something we hadn't done before.”

Domino’s also deployed a new application system that people can get through in five minutes, Weiner said. Domino’s is also looking at how best to schedule drivers once they are on payroll, like offering more flexibility with shorter shifts or fewer hours over the course of a full week, Allison said. 

Weiner hinted working with third-party delivery providers to increase capacity is within the realm of possibility, which would be a huge strategic shift for a chain that has been resistant to partnerships with these companies . 

“Nothing is off the table, but I’ve got a lot of faith in the Domino’s system,” Weiner said. “Our job is to fulfill the demand that customers have for us. Luckily, we don’t have a demand problem right now.”

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Domino’s Unveils Four-Part Plan to Capture $7B in Sales and Nearly 50,000 Stores

The pizza chain has struggled as of late, but it will look to turn things around by focusing on food, operations, value, and franchisees.

Similar to its customer base, Domino’s executives are hungry.

For the pizza chain, that doesn’t mean a bodily reaction. It’s a prevailing framework the brand will use to attack the next five years as it attempts to recover from sliding sales, inflation, and degradation of delivery. The plan is officially called “Hungry for More,” with the final word serving as a key acronym: Most Delicious Food, Operational Excellence, Renowned Value, and Enhanced by Best-in-Class Franchisees.

The company is confident enough in the strategy that it completely retooled its five-year guidance and removed estimated ranges to hold itself more accountable. To start, annual global retail sales growth from 2024–2028 was bumped from 4–8 to 7 percent. That would be more than $7 billion in incremental sales during those five years, $3 billion of which would come from the U.S. segment. The retail sales expansion assumes 3 percent annual same-store sales increases domestically and internationally.

The annual global net unit growth target increased from 5–7 percent to 1,100 net stores, or 5,500 across five years—close to Domino’s systemwide count in 2017. In the U.S. specifically, Domino’s has about 6,800 stores and expects that to reach roughly 7,700-plus by 2028 and 8,500-plus in the longer term. On the international side, the brand projects that it will go from approximately 13,400 locations to 18,500-plus in 2028 and 40,000-plus in the longer term. Combine those two business segments and Domino’s believes it has whitespace for close to 50,000 restaurants globally.

At the same time, Domino’s wants to put more money in the hands of franchisees. The chain forecasts 8 percent annual operating income growth in the next five years, which would be an additional $400 million. U.S. franchisees earned $139,000 in average EBITDA per unit in 2022. This year, it’s estimated to be $160,000. Domino’s is targeting more than $170,000 in 2024.

READ MORE :

Domino’s Confidence Isn’t Shaking Amid Slower Sales

Domino’s Strives for $2 Billion Carryout Opportunity

Domino’s Wants Customers to Know it’s Obsessed with Delivery

For Domino’s to witness all those gains, it’ll start with food. Weiner said the brand talks in length about technology and value, but it hasn’t “romanced our product the way we know that we can.” The chain plans to take that up a notch through marketing, better food photography, and menu innovation. This has already been put into action. In 2023, Domino’s launched two menu innovations in the same year for the first time since 2011— Pepperoni Stuffed Cheesy Bread  and  Loaded Tots . Weiner said some “menu renovation” would take place as well, similar to how the company upgraded its pizzas more than a decade ago.

“There’s no freezers in our stores, no fryers in our stores,” Joe Jordan, president of the U.S. business and global services, told investors Wednesday. “Everything’s made fresh to order. We’re really proud of the food that comes out of a Domino’s store.”

Additionally, Domino’s is changing how it makes these enhanced food items thanks to DomOs, the chain’s proprietary technology that orchestrates back-of-house processes. For example, when a customer builds a pizza, the system tells employees to make it before the order is completed online. Also, the brand is adding automation to its make line by introducing “DJ,” a robotic dough stretcher. It teaches workers how to stretch dough to Domino’s specifications in two days versus 26. This dough is then placed into an oven that’s two minutes faster the the chain’s traditional equipment. And when the pizza comes out, boxes are ready to go instead of employees being bogged down by having to fold them into space. To complete everything, orders are bagged and transported directly to a driver who doesn’t have to leave their vehicle. DomOs is connected to every driver and alerts restaurants when they are approaching.

Externally, the company is working with Microsoft to develop a generative AI component intended to streamline store operations and customer ordering.

Value is the third piece, but beyond favorable price points. In some cases, there could be more options, which is why the brand decided to join the Uber Eats marketplace , a venture that could lead to $1 billion in incremental sales. Value is connected to the loyalty program too. The chain recently lowered the spending threshold to earn rewards points from $10 to $5, which is better for guests who enjoy purchasing the everyday $7.99 carryout deal. Also, customers are eligible to redeem quicker, with tiers of 20, 40, and 60.

Guests can also expect greater personalization, like dynamic offers, rewards, and menu items that cater to an individual’s profile. This will be pulled from years of data gathering on web/app platforms. Domino’s has experienced 15 straight years of digital sales increases and earned more than $7.5 billion in the trailing 12 months ending in Q3. Overall, these channels mix 85 percent. The company is in the process of revamping its website and mobile app with optimization for delivery and carryout, streamlined navigation, and faster performance. Elements will be placed onto the platforms periodically and should be finished by the end of 2024.

Franchisees are the fourth and final part. Domino’s has about 730 U.S. operators that own nine stores on average. The typical payback on those restaurants is about three years, a point of attraction the brand has maintained throughout the pandemic. The company’s future is backed by a pipeline of more than 170 potential new franchisees. Of that, 50 are ready to open a store. Outside of the U.S., Domino’s is 100 percent franchised across 93 markets. These stores are operated by 46 master franchisees, including seven public companies. They’ve all worked to deliver 30 straight years of same-store sales growth.

“We get the next generation of franchisees really excited,” Weiner said. “We say this all the time. You can’t become a franchisee at Domino’s Pizza unless you work at Domino’s. Since I’ve been here in 15 years, [we’ve] never had more people in our franchise management school, and we’ve never had more people finished with it ready to sign and open a new store. Our franchisees and our future franchisees are really excited about what we’re delivering.”

U.S. same-store sales declined 0.6 percent in Q3, after lifting just 0.1 percent in the second quarter. The decrease was driven by order count declines, partially offset by a higher average ticket thanks to an average price jump of 3.2 percent. The brand opened 28 domestic locations and closed one, pushing the footprint to 6,762 outlets as of September 10. Seventy-two units are under construction, and most of them should open in the fourth quarter.

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Case spotlight: Domino’s Pizza: Business Continuity Strategy During the Covid-19 Pandemic

Author perspective

Who – the protagonist.

Domino’s Pizza as it adjusted to the COVID-19 pandemic.

Domino’s Pizza is an American multinational pizza giant, popular for its take-out and delivery service across the world.

Domino’s boasts more than 17,000 stores in over 90 countries. As of December 2019, 98% of its stores were franchise-owned.

Domino’s found themselves in an advantageous position due to their prowess in delivery and a new ‘contactless’ delivery initiative.

Other initiatives included Indian customers being able to order their groceries and additional essentials via the Domino’s app, and each of the 6,126 company and franchised-owned US stores donating at least 200 pizzas to people in their communities.

However, Domino’s didn’t escape criticism, as many felt employees were being put at risk at a time when most people were being asked to stay indoors. Furthermore, there were several incidents of employees speaking out at their dissatisfaction of the working environment.

It was 31 March 2020 when Domino’s released the encouraging preliminary sales results for the first quarter ending 22 March 2020.

As of March 2020, Domino’s and its franchisees employed around 400,000 people worldwide, reporting same-store sales growth of 1.6% for its US stores and 1.5% in its international stores.

“If you don’t have that (contactless delivery) in this environment, you are going to lose share.” Peter Saleh, analyst at global financial services company BTIG .

Domino’s Pizza were well set to push on with their ‘contactless’ delivery approach.

10,000 employees were being hired in US stores while more store workers and delivery drivers had been taken on in the UK and Australia.

With contactless delivery seemingly here to stay post-COVID, is Domino’s in a healthy position going forward?

AUTHOR PERSPECTIVE 

Exception to the rule

Debapratim said: “The COVID-19 pandemic has affected many industries with many businesses shutting down. However, some have turned the crisis into an opportunity.

“The restaurant industry was hit especially hard. In this context, we noticed that Domino’s was not only surviving but thriving. It was experiencing increased demand, and was planning to hire 10,000 new workers in the US at a time when its rivals were announcing furloughs and layoffs. Having said that, Domino’s too faced disruption, with the majority of its international markets experiencing partial store closures, and stakeholder tension amidst the pandemic.

“We are happy that the case was chosen to be included in a new edition of a leading Strategy textbook ( Crafting & Executing Strategy , 23rd edition, by Arthur Thompson, Margaret Peteraf, John Gamble and A. Strickland) even before it was formally published, and has since emerged as one of the most popular cases of 2020 so far.”

Overcoming complexity

Debapratim stated: “We soon realised that the Domino’s case would become ‘the case’ that would be discussed in business schools during the pandemic, and long after the pandemic was over. The challenge was how to capture it in all its richness and complexity and bring it to the online classroom almost in real time.

“These were still early days in the pandemic, and changes were happening almost every day with new information arriving on a daily basis. We ultimately decided to set the time of the case at around mid-April, when Domino’s, as well as other organisations, were uniquely challenged due to the onset of the pandemic, and while there was a lot of uncertainty regarding the future.”

Weathering the crisis

He added: “The key takeaway from this case is how Domino’s banked on its core competencies and strategic capabilities to weather the public health crisis with limited disruption to its operations. Not only did it have to adapt its business model, but also balance the need for providing its service to customers as well as keeping its employees and customers safe.

“This case will remain a lesson in how to ensure business continuity amidst a pandemic.”

Relating to the subject

Debapratim commented: “The Domino’s case worked very well in the online mode. Most students were stuck at home due to a government-imposed lockdown, and could easily relate to the issues arising in the case. Many were either missing their pizzas or were grateful that they still had supply – something they have always taken for granted. They could see, how like them, businesses too were affected, and how they were coping, adapting or innovating.

“As we discussed Domino’s business continuity plan and how it could build resilience and come out stronger in the post-crisis period, I felt the students themselves also felt a lot more optimistic about the future.”

Adjusting to a changed world

He concluded: “The COVID-19 pandemic has had a very disrupting and profound impact on business and society, bringing along many changes both in the short and long-term. It is important for business educators and students to keep themselves abreast of these changes, so that not only are businesses able to learn from the situation while trying to tackle the challenges posed by the pandemic, but also impart the relevant skills required to survive and thrive in this situation.

It’s not going to be ‘business as usual’ once we have seen the back of the virus, so we have to see how we can prepare our students for the new world.”

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Domino's enlists Simon Cowell to highlight its quality

Domino’s wants to convince customers that its pizzas are good and it has enlisted the help of Simon Cowell to do it.

The Ann Arbor, Michigan-based pizza chain is featuring the television personality—known for judging talent competitions in the U.S. and the U.K., such as America’s got Talent and The X Factor—in an ad focused on Domino’s commitment to quality.

The idea is to showcase the chain’s insistence on ensuring every pizza is perfect before it goes into the oven.

The ads featuring Cowell started on Monday. Cowell will be “America’s favorite quality captain.” Domino’s says the company now has “quality captains” who ensure that each pizza is made precisely to order before it goes into the oven.

In the ad, Cowell sits with his arms crossed at a counter inside a Domino’s location as three nervous workers hand him uncooked pizzas.

He has a microphone to his left, a Domino’s travel mug to his right, and judges them harshly. “Topping distribution: Horrible,” he says. “Terrible. Pathetic. I hate it.”

The workers thank him, and then he praises the next iteration. “It’s a yes.”

“He has an eye for detail and demands perfection when it comes to making mouthwatering pizzas, too,” Kate Trumbull, Domino’s chief brand officer, said in a statement. “Domino’s has a longstanding history of making sure each pizza is delicious, but now we’re taking operational excellence to the next level.”

Domino’s has long marketed its technology as well as its ordering channels to get customers to order, with considerable success.

But the company under CEO Russell Weiner now wants to focus more of its marketing on the quality of its pizzas. “We have the most delicious food,” Weiner said in May . “But people don’t think of us for that. So we need to go about changing that.”

Frank Garrido, Domino’s chief restaurant officer, said in a statement that the company has made various operational enhancements over the years. “Every order counts,” he said. “That includes checking pizza toppings before they go into the oven, to confirming each order has all of its items, down to each dipping cup.”

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Chinese investors seize Nigeria’s guest houses in Liverpool, plan to sell them on eBay

A Chinese investment group has finalized plans to sell two residential properties it seized from the country on eBay.

• Chinese investment group plans to sell two residential properties seized from Nigeria on eBay to recover $70 million in arbitration awards.
• The seized properties are located in Liverpool, United Kingdom.
• The case stemmed from a dispute between Zhongshang and Ogun State, Nigeria.

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A Chinese investment group, aiming to recover up to $70 million in arbitration awards from Nigeria, has finalized plans to sell two residential properties it seized from the country on the global online marketplace eBay, sources familiar with the arrangement informed Peoples Gazette .

This latest development comes shortly after Zhongshang Fucheng Industrial Investment Ltd secured a court judgment in France authorizing the seizure of three Nigerian presidential planes.

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The company seized two buildings tied to the Nigerian government in Liverpool, United Kingdom, in June 2024, following Nigeria's failure to comply with an arbitration ruling issued in 2021.

The properties, located at 15 Aigburth Hall Road and Beech Lodge, 49 Calderstones Road in Liverpool, were seized following a December 2021 British court order.

This ruling empowered Zhongshang executives to confiscate Nigerian assets in the UK to recover the $70 million judgment, which remained unpaid as of August 20, 2024, with a two per cent monthly interest accruing on the outstanding amount.

Zhongshang was awarded $55,675,000 plus interest of $9,400,000 and costs of £2,864,445 as of the date of the arbitration verdict on March 26, 2021, court documents said.

The case stemmed from a dispute between Zhongshang and Ogun State. The firm said the state violated a 2001 trade treaty between Nigeria and China when its rights to a free trade zone were rescinded in 2016.

The company brought Nigeria before a UK arbitration panel in 2018, accusing the country of using federal agencies, including the police, immigration, and the export processing authority, at the behest of Ogun State without following due process.

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According to court documents, two Zhongshang executives were expelled from Nigeria between mid and late 2016, with one of them allegedly detained and tortured by the police.

Several European courts have already issued enforcement orders in the UK, Belgium, France, and other countries, allowing Nigerian-owned jets and other assets to be tracked and seized.

Meanwhile, an appellate panel in the United States recently declined to extend sovereign immunity protection to Nigeria, facilitating Zhongshang’s continued efforts to recover the $70 million owed.

A consultant working with Zhongshang said the company has been working to put the two Liverpool houses up for sale, including on eBay, where the source said up to $2.2 million would be asked for both.

The company is also reportedly preparing to claim Nigeria’s £20 million P&ID award in the UK.

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Distressed Tongaat Hulett to continue with business rescue plan to sell off assets

While the asset transaction will take longer to execute, Tongaat says it doesn’t expect any material impact on the company’s operations, its employees, creditors, suppliers and customers.

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A screengrab of sugar products made by Tongaat Hulett. Picture: https://www.tongaat.com/stakeholder-value-creation/videos/

JOHANNESBURG - Distressed sugar producer, Tongaat Hulett, says it will continue with a business rescue plan to sell off its assets as shareholders look set to get the bitter end of the deal.

The company’s shareholders recently voted against a debt-for-swap by winning bidder, Vision Consortium.

The debt-for-equity swap, which is part of Vision’s business rescue plan, would have boosted the company’s thin balance sheet in exchange for Vision taking a majority stake at the troubled sugar giant.

The approved business rescue plan had two alternative transactions.

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After shareholders voted against the equity transaction, the company is left with a second option to sell its assets to Vision Consortium.

This would result in the company’s shares having zero value, the subsequent delisting of Tongaat from the JSE and the shell being liquidated.

The business rescue practitioners (BRP) at Tongaat say they’re unclear why shareholders vetoed what was considered the most efficient option to get the sugar producer out of business rescue.

But they say they’re upbeat about the company’s future.

The reassurances come on the back of concerns about the impact on the local economy and jobs.

The company has again snubbed counter-proposals to save the company, including one from Mozambican retailer, RSG Group.

RSG was initially in the running to take over Tongaat but pulled out at the eleventh hour, leaving Vision Consortium in a one-horse race.

In its latest interim report, the company’s BRPs reiterated that "the business rescue plan containing the Vision parties’ proposal, to be executed through Vision Investments 155, was approved and adopted by an overwhelming majority of creditors on 11 January 2024. The approved BR plan remains binding on the company and all affected persons, and the business rescue practitioners remain obligated to implement the approved BR plan".

Tongaat went into business rescue into 2022 after an investigation uncovered accounting fraud by top executives who allegedly inflated the company's profits.

Tongaat Hulett’s inflated profits were used to justify hefty bonuses and share options for the top executives but later set the company back with a R12 billion in write-down in its value.

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What We Know About Kamala Harris’s $5 Trillion Tax Plan So Far

The vice president supports the tax increases proposed by the Biden White House, according to her campaign.

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By Andrew Duehren

Reporting from Washington

In a campaign otherwise light on policy specifics, Vice President Kamala Harris this week quietly rolled out her most detailed, far-ranging proposal yet: nearly $5 trillion in tax increases over a decade.

That’s how much more revenue the federal government would raise if it adopted a number of tax increases that President Biden proposed in the spring . Ms. Harris’s campaign said this week that she supported those tax hikes, which were thoroughly laid out in the most recent federal budget plan prepared by the Biden administration.

No one making less than $400,000 a year would see their taxes go up under the plan. Instead, Ms. Harris is seeking to significantly raise taxes on the wealthiest Americans and large corporations. Congress has previously rejected many of these tax ideas, even when Democrats controlled both chambers.

While tax policy is right now a subplot in a turbulent presidential campaign, it will be a primary policy issue in Washington next year. The next president will have to work with Congress to address the tax cuts Donald J. Trump signed into law in 2017. Many of those tax cuts expire after 2025, meaning millions of Americans will see their taxes go up if lawmakers don’t reach a deal next year.

Here’s an overview of what we now know — and still don’t know — about the Democratic nominee’s views on taxes.

Higher taxes on corporations

The most recent White House budget includes several proposals that would raise taxes on large corporations . Chief among them is raising the corporate tax rate to 28 percent from 21 percent, a step that the Treasury Department estimated could bring in $1.3 trillion in revenue over the next 10 years.

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