Successful startups business is typically more fragile than an established business, in the sense that they can potentially grow or fail quickly with limited investment of capital. Although we don’t know how much actual money invest in the startup of Five Guys Burger and Fries, from available data, five Guys started with money from children’s college saving (Boone & Kurtz, 2012, p.78). Five Guys burger and Fries was established in 1980, by Jerry Murrell with support of his wife Janie in Arlington Virginia. Since that time, Five Guy’s success grown into a franchise company, by 2012 they have over 760 franchises in US and Canada (Boone & Kurtz, 2012, p.78). All Five Guys franchises location is designed with the same original philosophy. Serve freshly made to order burgers and fries, never serve frozen food to customers (Boone & Kurtz, 2012, p.78.). Use same ingredients, Sell a really good, juicy burger on a fresh bun, and make perfect French fries, don’t cut corners.
2. Analyze the original values for the start-up company and how it remains strong today.
To be successful in any business, you must understand the market you going into, and the competitive nature of that market. Five Guys understand the nature of fast food market. During 1980’s restaurant market was not dominated by one company as in the case today. Five Guys start when the market was favorable, and has family around to help and support the business. Five Guys still serve freshly burgers and fries the same as back in 1980. Their success is as a result of the managements’ understanding of good customer service. According to Leslie Pockell, remember, your customer don’t buy your product. They buy you. If they buy you, they will sell your product for you, (MBA IN A BOOK, 2009, P.164). Five Guys philosophy of “Make customer happy they walk out and sale you to other” (Boone & Kurtz, 2012, p.78), Five Guys Burger and Fries was build base on this solid philosophy.
3. Enumerate three (3) factors that contributed to Five Guys’ success in such a short time and what.
Five Gays success is based on three factors; capital, entrepreneur, and human resources, when his children rejected going college Mr. Murrell use the money save for his children tuition to open his first restaurant, this money was the capital to start the business. Entrepreneur is someone who is willing to take risk to create and operate a business (Boone & Kurtz, 2012, p.78). Mr. Murrell sees a potential opportunity in fast food business during 1980, and takes the risk of investing in Five Guys, that make him entrepreneur. Right from the start family run the business, work in different position in the company, this give Five Guys Burger and Fries natural resource that help establish the company. Besides role models, entrepreneur also can be influenced by other sociological factors. Family responsibilities play an important role in decision whether to start a business (William D. Bygrave & Andrew Zacharakis, 2004, p.8). Mr. Murrell was influenced by his children deciding not going to college, to keep them out trouble; he became an entrepreneur and start Five Guys business. Economic factor of