How Domino's Pizza Squashed Every Company You Can Think Of
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- čas přidán 25. 07. 2024
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Domino's pizza is one of the largest pizza chains in the world only rivaled by Pizza Hut. 15 years ago, Domino's was in a very similar situation businesswise, but customer satisfaction-wise, they were in the toilet. Domino's pizza was agreed to be some of the worst pizza out there, and the only reason people kept buying was due to their speed and convenience. Eventually, though, people hit a breaking point during the 2008 financial crisis and when customers scaled back on their pizza-eating during the recession, they permanently left Domino's. Over the next few years, Domino's stock crashed 92% while competitors had already recovered from the recession. Just as everything seemed lost though, a man named Patrick Doyle was promoted to being the CEO of Domino's and this marked the rebirth of Domino's. Patrick oversaw the reinvention of Domino's pizza, the embracement of their convenience roots, and a new focus on profit per store as opposed to more stores. Since then, Domino's has made a seismic recovery, and Domino's was actually the 2nd fastest growing stock throughout the 2010s beating out all of the tech giants. This video explains the fall and rise of Domino's and how they were able to outperform every company you can think of.
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Timestamps:
0:00 - Underdog Domination
0:44 - Terrible Reputation
3:17 - Owning Up
4:47 - Streamlining Domino’s
6:02 - Early Adoption
7:32 - Attracting Quality Franchisees
9:13 - Domino’s Today
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This video kind of hits hard to me because my father owned and still owns a dominos franchise. Before Doyle came in and the market bubbled, his profits dwindled so far as to the point where the bank took my childhood home. After Doyle took control of the company, it allowed my father to regain proper housing for my family, begin saving for my college, and giving back to his community through his franchise. Doyle is truly an inspiration to modern business practice. The newer leadership isn't bad either, but their issue is that they lowered our prices so much as to the point where a significant amount of our product simply isn't profitable, forcing franchise owners to gain money through other means, such as heavily increasing delivery fees. While this may look good to the stockholder, it is increadibly hard for the owners to navigate.
Thanks for sharing your story Andrew, I hope profits get better!
And delivery fees cause people to tip less if at all which causes the delivery driver to try and live off the 4.25 an hour
In general what makes bussiness die or thrive is good or bad management.
"The newer leadership isn't bad either" and "they lowered our prices so much as to the point where a significant amount of our product simply isn't profitable" seems like big contradiction. So basically they became greedy by substantially increasing their profit margin over their franchises.😒
Patrick definitely knows how to run a business, he basically revived the whole company within just a few years
I heard the new business he joined is skyrocketing as well
@@LogicallyAnswered being honest is a great policy.
well i can agree if your referring to me you got the wrong to the wrong last name
@@Thatonecyborg we are talking about the CEO of dominos who is also named patric
Here's the thing if you listen to your customers and diligently work towards improving your services provided by employees towards customer service and show transperancy, you might actually find that things can change for your business! If you don't you`ll just be another chair filler for a while it's as simple as that....
I remember watching a news feature a few years ago of Domino's CEO saying they're as much a tech company as they're a food and logistics business. The difference great management can make!
we joke about this all the time in the stores. lol
I don't know for sure but I guess dominoes doesn't use agency but I could be wrong, one thing i think places do so bad nowadays is down to agencies people know they might not be there for long so why bother there's no risk of loosing your job cos chnsce is you only get like 2 days work then they get someone else
Papa johns has better pizza though, most people go dominoes over papa johns cos of the price that's just from people I know though in my area
Dominoes is getting expensive very expensive and the food is going downhill.
they’ll probably go out of business soon ,Unless they start lowering there prices.
@@Smith6265 ever heard of a coupon?
6:14 This woman has mastered the art of the touchless touchscreen!
Lol
I’m the 7 like
Underrated comment.
I think she's afraid to touch it.
Looks like a cat testing something.
Wow, Patrick Doyle's leadership is truly an inspiring story. His honesty and transparency in this era of universal spin and deceit makes Patrick Doyle a national treasure.
I read that pandemic and lockdowns were a boon to Domino's who had perfected the delivery system and mobile app ordering systems.
While others like Pizza hut who depended on dine in with much better services in restaurant than dominos suffered.
The biggest franchise owner of pizza hut even went bankrupt last year.
Oh yeah, I wouldn’t be surprised to hear that. Dominos has their tech game down good.
@@LogicallyAnswered Do you think they can succeed with self driving delivery vehicles or drones.
I think they will in about 10 years.
Food delivery self driving vehicles won't have much problem because they don't need to carry humans and hence less risks.
@@neeljavia2965 I think dominos will likely be the first pizza company to use self driving delivery vehicles in a large scale. But I’m not convinced they’ll develop it themselves. I think it’s very possible that dominos licenses from Tesla.
@@LogicallyAnswered True.
Dominos doesn't have the scale to get the data and software.
But they have money and usage.
@@LogicallyAnswered Dominos Pizza already have tiny robots delivering most of their pizzas in Milton Keynes, UK - where I use to live.
Great CEO who invested in a long-term competitive advantage and is now for reaping the benefits.
Too bad their pizza sucks
@@ballgameshoes8583 it's not even as bad as it used to, it's so much better than before. For the price it's pretty damn good tbh
Asshole CEO who recently stated we need additional immigrants to staff his restaurants. How’s that for being loyal to those who helped make your company successful?
@@ballgameshoes8583 idk about u but their pizza is good asf
@@skeybell lol
Dominos has already eliminated all major Pizza chains in India. We love Dominos for being cheap, tastes good and delivery under 30 minutes.
I know pizza hut is still a thing but I live in the us and you see either little Caesars or Domino's Pizza Hut dead asf boi
@@Igitdubz Pizza hut is dead here and so is Smokin Joe's. There are no other big chains for pizzas here.
@@Igitdubz pizza hut is building a location where i live
@@Igitdubz pizza hut tastes better than dominos
@Kyotoryu that sounds like fine dining to a domino’s customer
as a driver they used to keep extra already cooked pizzas to eat and it was awesome. wed also make our own food sometimes too
😋
Same I work there now and I love my job
I must be part of a different dominos then..
Domino's delivery system is so efficient that they are able to deliver and make profits on the food sold.
Unlike the food delivery giants in my country who are burning money and outsiders like Uber eats exited the market.
Uber eats and those types of tech delivery companies are also burning money here in the US. Company man made a video on them and how they run their business if you’re interested
@@audiowithdrawl5948 Yeah.
EE also made a video on that how for certain companies profit is never a priority.
If only Pizza Hut could go through the change that dominos went through. Pizza Hut continues to decline in quality and the prices are going up as well. I miss the days where Pizza Hut had large deal for $7.99 or even the medium deals. Now the price is on level with restaurants which kinda beats the point of having more affordable option. Hopefully Pizza Hut makes a comeback
Exactly.
They are declining in my country for years.
Yeah maybe they’ll get a Patrick Doyle type leader as well
OK, not kidding, Going to Pizza Hut was kinda of a big deal for my parents, every Friday night they would go with a select group of friends to PHut and dine in was as i said kinda special. I used to like Pizza Hut pizzas but rolled over to Dominos many years back. It amazes me how a company that had #1 spot (Pizza Hut) went from hero (having 70% + of the market) to zero almost overnight, their management should be be sacked enmasse. I have not bought a Pizza Hut pizza for at least 35+ years...... I smash Dominos at least twice a month........
Remember pizza Hut in the years 2000 to 2006, it served the best pizza I had eaten beside the one I make.
Then, from 2008, it started a slow decay, until it went belly up
They don’t have pasta, sandwiches, or my parm bread bites
Domino's really stepped up their game when they basically redid their entire menu and recipe's. If I order for delivery it's always Domino's now. I used to order Pizza Hut even though they take longer. Like 30 to 45 minutes longer to deliver. Not anymore.
To add on, another cause of growth was due to its business strategy and everything mentioned in video, its was successful during the pandemic as its adaptation was minimal compared to competitors
Great point!
Turning the quality around on their product is what saved their company. Good on that CEO to realize that if you don't have a good product, it doesn't matter how easy and fast it is to get, it's going to fail eventually. Out of the main pizza chains, Domino's is top 1 or 2 right now. It's in the running with Papa Johns for first. But after those two, it's literally a race to the bottom. I think out of all the chains, Pizza Hut should be worried. The quality on their pizza is terrible. The only gimmick it's had for years that had me coming back, was their stuff crust. But now that isn't even worth it anymore.
little caesars is also going down the shitter for me due to the recent price increase. what used to be good to buy in bulk and get a decent pizza is now becoming a might as well just spend some extra cash for the better quality of dominos
@@monkey.moments8272 same with cici's pizza. it had a five dollar increase from when i was a kid and the quality's only gotten worse. it was also great to buy in bulk. now, dominos is just overall better and cheaper
I work part time at Domino’s as a driver to break the monotony off my professional career. I honestly really enjoy it the majority of the time
I always remember dominos from middle school when they were the cheap terrible pizzas that tasted like cardboard delivered to school events. I graduated in 2007. A few years after I graduated I saw commercials from dominos saying they improved their recipe. I wasn’t about to give them another chance. But after 2016 I got a coworker who ordered a lot of dominos, and frequently shared. They have convinced me that companies can turn around , and now I order dominos at least twice a month.
I had dominos for the first time with my family in 2020 during the pandemic and we were surprised that it was actually good pizza.
I've been watching your videos now since you had 10k subscribers and the fact that you are not already over a million subs blows my mind. Keep up the great content!!!! If you're ever in doubt of why you post content just remember that people like me are in love with what you do. Keep it up! :D The 1 mil is the hardest to get, but we'll get there soon enough!
Thank you so much Olijon! I really appreciate the positive feedback and support!
Great video, thanks
Yes, Dominos is very adaptive. As soon as the pandemic news hit, they started the no contact delivery and other measures.
I HAVE BEEN WATCHING YOUR CHANNEL FROM A LONG TIME YOU BRING GREAT VARIETY OF IDEAS FROM SPACE,TECH,ARAB COUNTRIES,STOCK AND NOW FOOD. GREAT JOB.
Thanks Shivendra, I really appreciate the positive feedback!
Great video 👍
The instant you change your mentality you have changed your entire life ✊ ✊ ✊ ✊ ✊ ✊
Tell ur army cheif abt this
Great watch. Also, could you make some videos regarding the shift towards the Metaverse? I feel like that's an interesting topic to discuss with an entrepreneurial POV.
Wow. I remember last time I had Domino's (around 2003) it was awful. Never since have I even tried it once. I'm willing to give it a try, just out of curiosity.
Yeah, I def think it’s worth a try
I think it tastes similar to Pizza Hut
2003? Damn, you've been holding almost 20 years long.
Don't bother - it's still crap.
It is still shit. Support your local pizza chains before they crumble because of "Superior Delivery". No one cares about quality anymore.
WOW. Really interesting. Thanks
Thanks for watching!
Suddenly I want Domino’s. They should pay you for the free advertising.
I would love to see your analysis of GE it's rise and fall.. maybe even a video on Jack Welch, former CEO of GE as well. Just throwing it out there.
Thanks for the suggestion Sharan!
Great video :))
Very good and informative like always, domino's tastes way better since they changed their crust and recipes, they do seem to have too many options imo last time I went to one (has been awhile, although I have been meaning to get dominos recently when I realized they had moved their location closer to me recently---my ex-fiance used to manage the domino's from here, I have no idea if she still does as I haven't went to domino's in forever and she randomly stopped talking to me altogether) though and could benefit by simplifying their menu if they haven't yet.. P.S. your end screen buttons aren't there.
I love your videos bro
You honestly are heavily underrated, the quality of your content is amazing. You deserve well over a million subscribers ngl.
Thank you so much Thanh!
I used to deliver for Domino's as a pizza delivery driver and I gotta say it was a good experience. Good money, good people and the food was great. The only problem was the hours, since I would be among the closer employed and it was affecting my health. Still, it's a good part-time job and worth it for the experience at least.
I remember around 2010 when their huge campaign of a new sauce recipe, better crust (with buttery garlic) and new specialty pizzas was all over television. My favorite was the Fiery Hawaiian. One delivery I got looked like the pizza flipped over into the floorboard of the delivery vehicle. I took a picture and emailed the customer complaint email and was called within a week offering me a coupon code for a large with any toppings. Goodwill goes a long way with consumers, even if the improvements to the product are overstated.
Domino's is a recognizable brand, that is why i decided to order a pizza from them but it tasted awful.
There are many local pizza restaurants that makes much better pizzas than them.
Sorry to hear that man
@@LogicallyAnswered It's true like you said.
that they don't know it's shi+ and fix it is what amazes me...it's like McDs...who the fuk thinks that shi+ tastes good is stoned
While I would venture to say that there are many pizza p[aces that make far superior tasting pizzas, they also take much longer, higher priced and delivery generally sucks... those local chains are also not selling worldwide... the final verdict is that while Dominos may not make the best pizza, it is far superior to what they had before and are generally equal to (if not slightly better) than most other large chains. I can order Dominos nearly everywhere and get a fairly consistent and tasty product... something I *CANNOT** get from most local shops.
@@LogicallyAnswered ahh I've had opposite exp they normally taste great for me
I remember when they changed their recipes. Night and day difference. I had no idea their stock was doing that well though!
That opening part was brilliant!
It was their genius Noid marketing
Marketing was definitely one of Domino’s strong suits
Nice to here about Domino Pizza. In 1981 worked there as delivery person, while being a student in Kansas State University Manhattan. Now Domino has a Chain in Pakistan which was a pipe dream at that time.
Domino's is so good at getting and delivering our orders that it's painful and slow ordering from lots of other restaurants especially via delivery apps lol
I've worked at Domino's for over a year now, and this was awesome!
This is how a business is supposed to be. Not ignoring criticism but facing it head on and changing what needs to be changed
I just got two Domino's ad in first 5 min of this video in two different languages.
Dam Dam Fire fire
Wha?! Dominos had bad pizza? The only Dominoes I've ever known in the UK takes ages to make pizza, but I don't think I could find a combination of toppings that tasted bad. I have to find out what's in their "Domino's Herbs" because I ordered a cheese pizza with that as the only topping and wow that tasted amazing.
I wish all pizza chains would put Herbs on their pizzas because it's very tasty and delicious. Yum yum. I like to put garlic sauce on pizzas, but yall got to try some Butter garlic sauce its taste really good. yummy.😛😍😋😀😃😋🥰😁😃😄😀
@@johngirard8554 For me, Papa Johns thick and soft crust + Dominos' herbs would make the ultimate pizza.
Glad to hear you’ve had positive experiences with them
Not me getting Domino's ad while watching Domino's video.
I was really confused when I started working at a dominos recently and this explains it all.
Wow, was not expecting Dominos. Though makes sense by how much pizza is being consumed.
Yeah, they’re definitely a sleeper stock
Sir pls make videos on
1)LTCM strategy and its fall
2)Bill ackman 2.6bn$ covid trade
Domino's repeated the 30 minutes delivery or free campaign in India in the late 2000s.
However today delivery giants in the country gets a lot of backlash for over working their employees like Amazon.
Oh wow, I didn’t know that. I thought they learned after their first attempt haha.
@@LogicallyAnswered Nah.
They exploited people and natural resources in developed countries.
Shifted to new age technology like drones and self driving cars once laws prevented exploitation in west.
Now they will repeat the same thing in developing countries where regulations doesn't exists.
When hurricane Irma hit and basically every restaurant was closed and everyone's power was out, dominos got my brother and by for a week.
Good video explanation. But I still don't understand how they made more money than the tech companies.
And they just opened a new branch here in my city(Minna), nigeria just weeks back
All things aside dominos makes the worst wings I have ever had.
😢
@@LogicallyAnswered I am actually an investor but I guess I should write to them saying stop making these wings that are so bad.
Your mom made you so. . . and you have yourself
@@austinrowell7167 I am definitely a spicy wing for sure.
Awesome video...was thinking about opening a store, this helps more in making a decision.
Company reinvents, restructure, remodels continuously....the way forward!
It is a strength of a company.
Dominos has a hard time here in Germany because we have many restaurants that do Pizza and döner. They are small businesses and we have them everywhere. The best thing about this is that almost everyone of them is really good.
I can't believe I got bamboozled and gaslighted 30 seconds into this video, that intro was brilliant lmao.
I love pizza and Domino's! 🍕🍕🍕 Thanks.
Tip - the sub says door, instead of dough, you can change it so other marketing students from abroad wont miss it!
reinvesting into the little guys keeping up your business, brilliant , revolutionary
Boot Barn grew 10x since its lowest point at Apr 2020. Lululemon also grew super fast in 2020 and 2021. I missed out on a lot of gems lately.
I got dominos first then a gym ad before this vedio 😂
I came here to look up some stock info but its kinda funny cause my wife and I usually look to our local Pizza Hut for more affordable pizza when we want to just get something to please our craving but not break the bank on a expensive place. Lately Pizza hut keeps letting us down so we tried Domino's these past couple of wks and decided to make the switch cause the quality has gotten much better, and now im most likely going to purchase a few shares to
You prospect Domino in the US. Here in the UK, the Domino pizza has the same taste of all other pizza chains, i.e. it is barely edible. Too much sugar in the dough, excessive onion in the sauce, no oil on top, and the cheddar mix is made for look and not for taste. The oven temperature is too low.
BTW, I make my own pizza, based on a Neapolitan recipe one century old. It is food for the Gods in comparison with industrial pizza.
Thanks for the great video Harry...
Fair enough
Get they're philly cheese steak pizza. I can understand that about they're normal pizzas, but the Philly steak one is the best pizza I've ever had
I love their pizza (and live in the UK), some guys have different taste I guess
@@karunk7050 yeah I've had gd exp with domino too from uk
In my country Sri Lanka, Domino's is by far the best Pizza Company 🍕. Super efficient delivery and not only that, pretty reasonable price than the Pizza Hut. The most important thing is Domino's has the best food app in Sri Lanka. Smooth and reliable.
To be honest Domino's has best deals. I think they made so much money in this pandemic situation.
Cheap, fast ,decent, and serving the major basically what you should look for in most stocks.
An indian Automobile company named “eicher motors” have 200,000% returns in past 20 years
very nice now i feel like eating pizza😀
Same
I got a dominos ad clicking on this video lol
Absolutely the best thing about dominoes is ordering from the app while you’re high and not having to talk to anyone
In the 90s i worked there and fresh dough out of the over was great. Pizza hut did not bake dry they put a cup of oil in the pan. Just adding the oil made a much heavier pizza and was better reheated. Dominos had to be fresh from the oven or it dryed out fast.
It would be interesting to see:
“The fast rise & Fall of Magic Pizza”.
This place was an adult version of chucky cheese and Aladdin’s Castle and much more wrapped into one.
The place was phenomenal and it was destroyed by big named competition; when Magic pizza was starting to have serious gains in popularity.
The details have been mostly hidden.
This might make a good story upload.
👌
Lol I just saw a domino's ad in this video
Believe it or not in my home town we had everything but a domino’s just until like 5 yrs ago
The last dominos I worked for was privately owned and the owner would occasionally come in and work because the short of staff. He didn’t pay well and there was a lack of management everyone quit including me.
As a european, when i went to America i had dominos and men it was so bad you cant call that pizza same goes for pizza hut), i cant even imagine it being worse before lmao
When your company does horribly and goes in a recession as a investment does not see any growth potential in the company or are mostly confident the company will flunk and then the company makes innovative decisions and trends to increase the demand for their product the company explodes in the stock markets cause of how well they are doing compared to their previous business models.
Domino's in the UK has always been popular in the UK. I used to work for them in the late 90's and even now I still prefer them to their major rivals.
Good management is key to success.
At 6:13 the girl was scrolling the air 🤣🤣
I actually really like dominoes! My town never used to have one and just in the last few months we finally got one. No longer a pizzahut customer
I work at dominos and can say for a fact that it’s fresh and delicious and I have no stake in the company whatsoever. It used to be garbage but has come a loooooong way
i got a dominos hiring ad on this lmao
Imagine listening to customer feedback
I love Domino's. I like their pizza, their cheese bread, and their chocolate lava cakes. I have only bought from another pizza place when I could not buy from Domino's
Fascinating to see this video and read the comments here. I actually like Dominoes pizza, but refuse to spend any $$ there because in my experience their service is absolute shit. Spent almost 30 minutes on hold once just to place an order (finally gave up). Must be a local issue.
I absolutely love Domino's Pizza. It's so delicious!!! Eat it 2-3 times a week! And the lava cake is so delicious! 😍
Hahaha wow
I like it too
There was a documentary about this awhile ago, very interesting.
Also interesting about Carlyle group. There was quite some controversy as bin laden had like 2 million in the fund..
Also Glenn Youngkin the governor elect in Virginia was co ceo and said to have been very successful.
I wonder where Patrick will spin Carlyle but I'm sure it'll be interesting. Will be keeping an eye out for him
Wow
I read yesterday in the Million dollars habit about how the guy who founded Dominos brought success by providing pizza for the customers with fast service because he figured out most people order Pizza when they are really hungry.
Never did Dominos name came to me in probably years. Not that I haven’t heard of them.
But What are the odds that I read the book and this channel was going to make a video on Dominos and I’d be watching it 11hrs later
The CZcams gods know everything 😂
@@LogicallyAnswered hey man
Didn’t think I’d get a replay from you.
I’ve been watching most of the content you’ve been uploading.
I just wanna say I find so much information and much to learn from your channel.
You and Coldfusion which I describe as rare gems on CZcams that are doing this in such fashion.
Much appreciate your work and keep doing the good work
tested Domino's pizza (large "Carbonara") last week in Spain - very sad experience
for €12 i was expecting at minimum an "okay-level" pizza... what i got was "is this a joke?", not even coming close to your average/random non-franchise pizzeria from the corner of a street
(i'm yet to try any other pizza franchise)
EARLY...great video btw!
Thank you Ambient!
I once ordered Domino's pepperoni pizza in Japan, super expensive, super tiny slices of pepperoni and very few pieces of them on it and I got pissed.
Eating Dominoes on break as a watch this...crazy lol
Dominos has topped all of the local pizza places; regardless of which neighbourhood I lived in
in india dominos makes shit tonne of money in corporate sector..almost all office parties order dominos as its universally appealing , creates less mess also delivery and billing system is efficient.
I order quite frequently from Dominos as what is great about them is the fast and free delivery even on a single pizza as well as like getting 80% of the time free vouchers for decent things like brownies or a small cheesy bread (pretty much half a pizza!) with tomato sauce or a cola! Every other food place asks money for delivery for small orders.
I worked as a manager for domino's. We would call ourselves the domino's army. We would build new stores closer to the road in front of other pizza stores.
Domino's is a power house of a food chain.
I've never had a problem with Domino's, and do think it's the best tasting in my experience. Other options for me is Pizza Hut, Papa John's which only somewhat recently expanded here (North West England), and the myriad of non-chain places. Domino's is the best but also most expensive, with Papa John's being a little bit cheaper, and almost as good. Pizza Hut's can be a lot cheaper cuz of their £5 Favourites thing but I'm not keen on their pizza (aside from the garlic sprinkle thing they do on the crust). As for the tons of smaller, local places I haven't found one that comes even slightly close to Domino's or Papa Johns as far as quality, and some aren't even much cheaper.
I should add, the Pizza Hut is a takeaway only one. Their actual restaurants are great, so I'm not too sure why there's such a variance there.
I worked for dominos for 2 years in Canada. I prefer there pizza to all the competitors. I found though that when I went to the states (California specifically) the quality was much lower. We made our own dough at one of the locations of worked at as well since it was pretty rural.
Not in the netherlands tho, theire generic not tasting way smaller then they make you think pizza's are not up to par.
I got a domino’s ad on this video lmao