The history of Domino's Pizza09 August 2018
Domino's Pizza is an extremely popular pizza restaurant chain in the UK, for students, teens and adults. It's a valuable meal decision for anybody pushed for time, particularly with the free delivery service offered by local Domino's restaurants. If you wonder just where the Domino's Pizza chain originated, take time to read the following brief history of this successful pizza outlet.
History of Domino's Pizza chain
The Domino's Pizza chain was launched in 1963 by brothers, Tom and James Monaghan, when they acquired an existing small pizza restaurant shop in Michigan, known as DomiNick's. The two brothers made a $500 down payment on the store and borrowed an additional $900 to close the deal. Tom bought James out of the partnership within the first year of operations, as James did not want to quit his full-time postman job to help run the operation. By 1965 Tom Monaghan had acquired two more pizzerias in the Michigan area and the story of Domino's massive expansion began to unfold. He had to change the pizza chain's name to Domino's as the original owner of DomiNick's didn't want his name associated with the new outlets. The three dots on the Domino's logo represent the original three pizza outlets that started off the growth of the chain.
By 1967 Domino's Pizza opened its first franchised pizzeria and the company had expanded to 200 stores by the year 1978. The first international Domino's Pizza outlet opened in Winnipeg, Canada in 1983 and this was shortly followed by the first UK store, which opened in 1985 and was located in Luton. Domino's also opened their first Japanese outlet in Tokyo in 1985. The international expansion continued rapidly, so by 1995 Domino's had 1,000 global outlets, which increased to 1,500 by the year 1997. The explosion in international Domino's outlets has been really phenomenal over the past 35 years, by February 2016 the chain had 1,000 pizzerias in India alone.
Tom Monaghan retired from the chain in 1998, selling around 93% of his holding in Domino's for $1bn. The business is now traded on the New York Stock Exchange. The simple business structure of Domino's Pizza and their excellent reputation for providing wholesome meals has resulted in numerous awards for the chain over the past 20 years, and they have been awarded Pizza Chain of the Year Award by Pizza Today on three separate occasions.