Five is a great business story because it is

Five Guys founder Jerry
Murrell’s mother always told him, “If you can give a good haircut or if you can
serve a good drink at a bar or if you can serve a good hamburger, you can
always make money in America.” ( Five Guys is a famous
hamburger take out in America specializing in serving hamburgers and
cheeseburgers with high quality ingredients. The burger joint was famous in the
Washington D.C. area for several years since 1986. The mother and father
offered great advice to the four brothers, “Start a business or go to college.”
( Thus,
the business path was taken and Five Guys was born. Several business ideas were
attempted however they proven failure (Jerry Murrell, 2017). The family did not
give up and the first small burger joint was opened up in Northern Virginia. As
the business grew the family grew as well introducing another brother. Through
the 1980’s and 1990’s the system of Five Guys was perfected. This allowed for
franchise opportunities to take place. In 18 months 300 franchise opportunities
were sold (Jerry Murrell, 2017). In 2018, over 1,500 locations are open
worldwide. Thus, Five Guys is an American success story for a small family business.

Five Guys and The Reason Behind My Selection

We Will Write a Custom Essay Specifically
For You For Only $13.90/page!

order now

I am familiar with
the rise of Starbucks and Chipotle because I have done many research projects
on these companies. Consequently, I have researched the back story. Therefore,
I went with Five Guys because I wanted new knowledge and a new perspective on a
business. Five Guys is a great business story because it is about a small
family operated the business that became successful in the franchise world of
America. Thus, it was very informative and interesting to me to hear of Five
Guys start small and become the world known burger joint it is today. 

Product Life Cycle of Five Guys 

            Five Guys is
stretching to the maturity stage due to not introducing anything new to the
business model. Their business model, business strategy, and the in-house
process were perfected during the infancy stages and this is still being
incorporated to this day. If nothing new is introduced then the company could
risk becoming old and people may not see the burger joint as something new or
exciting. The course of action of incorporating something new is essential to
progressing the company further.

Original Concept of Large Corporation

            The original
burger joint was started in Washington D.C. in 1986. This was a family-owned
business serving high-quality burgers. The burgers were hand rolled and a
freezer was not used. The first step of growing the business was the opening of
the burger joint in Virginia. People loved the idea; therefore, the business
opened up to franchise operations. The first 18 months the business went to 300
locations. This spread worldwide. Thus, gaining attention from the public and
the news. The company gained so much attention it now has over 1,500 locations
worldwide and is well-known by the public. The business plan of serving burgers
that are never frozen, of high-quality ingredients, and having a large variety
of toppings has shown successful for this small family-owned business. Now, I
large corporation.

Keys to The Organizations Success and Similarities to Other Companies

            The key to success for this organization was
perfecting the process from burger to customer. This includes where the burgers
are bought from and how the burgers are cooked and served. This process was
perfected in the early stages of the business and then exploded with the
franchise potential. Nailing the streamlined process from burger to customer is
the number one key to success for this company because it allowed for expansion
and growth. Keeping things simple and not complicated allowed for progression
as well. Comparing to other companies like Starbucks or McDonalds, both
companies focused on the process of food to the customer. Without this, the
quickness, quality, and money would not exist. Therefore, learning from this
shows that perfecting the process allows for growth and success.