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Ashley Morris’ journey from financial skilled to CEO of Capriotti’s Sandwich Shop is a story of perseverance and an unwavering passion for quality.
Morris fell in love Capriotti in college when his roommate introduced him to the brand. The roommate said they ate the “greatest sandwich I’ve ever had” at this store and insisted he try it.
After some convincing, Morris finally arrived at the most vital sandwich of his life. “I got a cheesecake from Capriotti and I believed: Damn, this is literally the best cheesecake I’ve ever had“, says. Morris remained a loyal customer until the end of his studies.
Years later, Morris began a profession in finance and worked as a portfolio manager at Wells Fargo, and Capriotti remained a consistent favorite. “I find myself eating at this place all the time, I really like it and I’m excited to eat lunch,” he says.
This obsession led him to open a Capriotti franchise with a friend. Morris called it his “first entry into Capriotti’s” as an absentee franchisee. They bought three locations in three years, but they wanted more. That’s when every thing modified.
If you possibly can’t join them, own them
The breakthrough moment got here when Morris realized that the brand’s potential went beyond the possibilities of franchising. Inspired by a poker broadcast describing 26-year-olds as “dinosaurs,” Morris decided it was now or never.
Capriotti rejected his request to have greater than three stores, so he tried one other solution. “I called the owner and said, ‘Hey, if you don’t sell me any more stores, I’ll just buy the whole company,'” Morris says. Shawn Walchefhost Restaurant influencers.
The deal was finalized in January 2008, just a few months before the financial crisis. It wasn’t the perfect moment, but they didn’t quit. “We were very undercapitalized, [had] absolutely no experience in franchising [and] very little restaurant experience,” admits Morris.
Despite these challenges, he knew this was where he was alleged to be.
As of August 2024, Capriotti’s operates almost 160 stores and plans to open 12 to fifteen more stores by the end of the yr. “There are almost 200 in the pipeline,” Morris says. The company’s vision is ambitious: 750 profitable locations by December 31, 2032.
It’s hard. Scaling comes with many challenges. Morris highlighted two key blind spots during his expansion: “Blind Spot A [was] thinking, Hey, just go out and put ads on TV, life is good. It’s an illusion. Blind spot B was the difficulty of the supply chain when you don’t have critical mass.
Solutions emerged through strategic partnerships and methodical development. “With the infrastructure we have, we are currently able to build about 25 new stores a year,” says Morris.
CEO Capriotti’s goal is greater than just growth. He believes in balancing business with purpose. His journey through this business taught him the importance of mentorship and adaptability. The emotion of it drives him just as much now as it did in the starting. “I just cared more about it, liked it more, got me excited about it,” he says.
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