...Why Not Burgers and Fries? | Successful Leadership and Entrepreneurship of Five Guys Burgers and Fries | | | | 10/28/2012 | Assignment 1: Entrepreneurial Leadership Contemporary Business Abstract This paper will analyze the business Five Guys Burgers and Fries to determine what has made this business and franchises successful. Five Guys operates in the food service industry and is among the top profitable franchises that offers a simple menu of burgers and fries as its main product. Five Guys’ is a family owned business that started in Arlington, VA that over time became one of the most popular places for fast food that did not require any marketing strategy to be a well-known place to eat. Five Guys’ prides itself of being such a simple company offering the best burgers and fries for a low-cost. Also, the business maintains a sense of integrity and ethics that continues to drive the business profits and keeps customers coming back for more of the burgers and fries. History There are plenty of restaurants available for quick choices of food and also price; one company has improved over time with being number one for a simple hamburger and fries combo. This company, Five Guys Burgers and Fries, are well known in the United States as a fast growing company that started from humble beginnings. The Murrell family, which consists of Janie and Jerry and their five (5) sons, help run the business from the beginning in Arlington...
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...Five Guys “Five Guys Burgers and Fries: Ingredients for Success” Company Overview The Five Guys business venture was founded on a few well thought out principles which they saw as a unique way of not only penetrating a competitive market dominated by many other well-established franchises, but also making a name for themselves and expanding their business. The main principle that the Five Guys operated by was, and still is, providing a high-quality product and maintaining that level of quality throughout, regardless. They decided they would never compromise on the quality of the product, and this not only became part of their brand, but also attracted a loyal following. Because he was adamant on regulating, supervising and controlling the standards of production and the quality of the final product, Jerry was not as eager as his sons were on franchising the business (Hatten, 2003). However, after much persuasion by his sons, he gave in. Five Guys ‘philosophy sets it apart from other fast-food chains Jerry had decided that in order to make Five Guys the best fast-food store, he had to make sure that they did not cut corners. One of the Five Guys policies is that the customer always comes first, and that is the code that the Five Guys’ staff works by. They offer nothing but the best for their customers. To achieve this, Five Guys always use fresh buns for their burgers to make them the freshest and juiciest burgers in the market. Furthermore, they also make the perfect...
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...Introduction What do you get when two parents motivate five sons to make a decision between going to college or to start a business? You’ve guessed right, Five Guys Burgers and Fries. Their ingredients for success were founded in 1986 by parents Jerry and Janie Murrell along with their five sons (Boone & Kurtz, 2012). Five Guys went from a small family restaurant to being considered the fastest growing food industry in today’s consumer market. Moreover, their success was only pinpointed on the quality of the burgers served and less on advertising. Throughout this research report, I’ll explain the philosophy, values, successful factor contributions, and ethical and social practices of the Five Guys business culture. 1. Determine how Five Guys’ philosophy sets it apart from other fast-food chains. Ever since the establishment of Five Guys Burgers and Fries, they’ve desired their business plan to be simple. As stated by Jerry Murrell, “Sell a really good, juicy burger on a fresh bun. Make perfect French fries. Don’t cut corners (Boone & Kurtz, 2012).” This kind of philosophy has voted them to be number one as customers favorite go to restaurant (Hsu, 2012). To stand out from other fast food chains, Five Guys wanted to focus on the quality of food and less advertising as possible. In addition, their food is always served fresh with burgers that are eighty percent lean patties that aren’t frozen with a side of Idaho potatoes that fried in peanut oil (Boone & Kurtz, 2012). Furthermore...
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...ENTREPRENURIAL LEADERSHIP The Five Guys Story Jeanne M. Catalano Strayer University Authors Note This paper was prepared for Bus 508 Contemporary Business Taught by Professor Dr. Nayak Passion, creativity, and the desire for the Benjamin ignites the flame in which entrepreneurship grows. One such man, Jerry Murrell gave his kids an option: college or run a business, and thus, Five Guys and a Burger was formed in Arlington, Virginia. (Boone, 2012, p. 78). Like all other small businesses’, Jerry faced obstacles such as competition, supply and demand, and capturing market share all while trying to maintain an ethical and socially responsible business. Jerry has maintained this success by following one simple recipe for success: burger and fries (“Five Reasons,” 2010). This simple concept along with his 5 rules of the business: best salesman is the customer, every position has ownership, know what your good at and stick to it, quality is everything, and employee incentives has catapulted Five Guys into over 16 years of business. (“Five Reasons,” 2010). Since 1986, despite the recession, the beef crisis, and competition, Five Guys have not only sustained their business but have almost doubled in size. Over the years, Jerry has stood by his original value to just sell burgers and fries and execute it well (Joiner, 2012). His philosophies have remained strong and his success can be attributed to three main factors: Product specialization, human resources, and branding...
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...Entrepreneurial Leadership: Five Guys Burgers and Fries At the heart of every entrepreneur is a drive and motivation to take an idea and see it evolve into a fully functional and striving business. To see a business progress and be successful there has to be vision, fearlessness, determination, and resources. When these things are in place a dream can become reality. A true entrepreneur knows this and will do what it takes to bring the vision to pass. “Treat that person right, he'll walk out the door and sell for you." This statement embodies the belief and philosophy of Five Guys Burger and Fries owner Jerry Murrell. From the beginning Mr. Murrell wanted the focus of the company to be on producing a quality product and customer satisfaction. In a world where there is a fast food restaurant on every corner, there has to be something to make one establishment stand out from the others. Five Guys’ stance on quality and satisfying the customer has gotten them many awards and recognition over the years. They have proven to be a grade above most of their competitors. From day one Five Guys has stayed simple by sticking with the basics. The company was founded on the principles of quality, great customer service, and cleanliness. The company wants the place so clean the floor could be eaten off of. As reviewed in “Five Guys Burgers and Fries: Ingredients for Success”, they take pride in cooking fresh meat and having their fries grown in Idaho which is considered...
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...“Five Guys Burgers and Fries: Ingredients for Success” Case Study Beverly Jackson Professor: Paul Jaikaran BUS50829VA016-1126-001: Contemporary Business July 22, 2012 Five Guys Burgers has been a Washington, D.C. area favorite since 1986 when Jerry and Janie Murrell opened their first restaurant in Arlington, Virginia after two of their four sons did not want to attend college (Bonne &Kurtz, 2012). They advised their sons to “Start a business or go to college.” The Murrell’s decided to use the money intended for their son’s college tuition to open a place where consumers could get a fresh, juicy burger with all the toppings you could stuff between fresh-baked buns using top quality ingredients. Five Guys sets themselves apart from other fast-food chains because they use the philosophy of concentrating on fresh food. Jerry Murrell believed that in order to effectively compete with large and well established fast food chains, they would need to concentrate on the quality of their product, and the satisfaction of their customers. In his own words, Jerry Murrell’s business plan was simple “sell a really good, juicy burger on a fresh bun. Make perfect French fries, Don’t cut corners” (Boone & Kurtz, 2012). They are determined to provide the best quality burger they can while offering as many topping as possible. In fact they only use 80% lean beef which is always fresh, never frozen (they do not own freezers only coolers). The potatoes used to make fries come...
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...Five Guys Burgers and Fries Restaurant Five guys burgers and fries is one of the most successful stories in the United States , they started the business in Arlington, Virginia in 1986. During the time, Jerry Murrel children said, "that they were not going to go to the college", their parents used their college funds and tried to get help from the bank but the bank refused to give them the money for their business, so they opened small hamburger take-out-shop by renting a place nobody else wanted to rent. They found a location that was unfavorable because of the awful location and lack of parking. They called their business " Five guys burgers and fries " regarding to Janie and Jerry Murrel family since they had five sons. They started the business with a simple business plan, it was according to Jerry Murrel's word "sell a really good, juicy burger on a fresh bun , make perfect French fries, don't cut the corner ", they did that although they had to pay high prices for their materials, so they were buying the best meat, using a high quality famous local bakery , using 100 percent peanut oil which cost five time as much as the oil other burger restaurants were using, and buying the potatoes from Northern Idaho where they grow more slowly and because of the weather condition grow solid and tasty in comparison to other restaurants that they buy the regular potatoes from California and Florida; not that the latest two are bad but it is a lot cheaper to buy from those two states...
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...Five Guys: An Honest Business Built on Simplicity Reyna Haynes-Smith Professor Barry Adkins Contemporary Business BUS 508 October 19, 2012 Food. It’s a major topic of discussion today. What’s healthy, what’s not. What’s filling, what’s worth the money. There are many factors that contribute to the reason consumers choose one business over another. Most choose fast food options because they don’t have the time for a sit down meal. Time is short and many want a meal that is filling but also want something healthy. Enter Five Guys Burgers and Fries. Five Guys was founded in 1986 by Jerry and Janie Murrell in Washington DC. They wanted to give their sons the opportunity to either build a business or go to college. The business route won and the family opened a carry out burger joint in Alexandria, VA. Their premise was to concentrate on the quality of their product and the satisfaction of their customer. From that a simple yet beneficial business was born. The “Keep it simple” mindset has brought Five Guys tremendous success. “Now, over 20 years after Five Guys first opened, there are over 1,000 locations nationwide and over 1500 units in development. Five Guys continues to receive media attention and has grown a cult-like following around the world”. Five Guys took many years to perfect their business practices. Many of their practices differed from those of other businesses...
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...The Economics of Five Guys Determine how Five Guys’ philosophy sets it apart from other fast-food chains. “Do good in school or you will end up flipping burgers your whole life!” How many times have kids heard their parents talk like that? Well that has worked out very well for Jerry Murrell and his sons. Jerry Murrell is the founder and owner of the first Five Guys Burgers and Fries. Their business plan includes making the very best burger around, matching that with perfect fries and not cutting any corners in the process. They started in 1986 and in 2002 when they began selling franchises they only had 5 burgers joints. Today there are over 570 of them and annual sales reach the $483 million mark. The Murrells spend their time overseeing the opening of around four new stores each week. And just think your parents said flipping burgers was a dead end job. When Jerry Murrell began franchising he was just a small burger operation with an almost cultish following in Northern Virginia. Today, the business is, by some, estimated heading in the direction of the $1 billion in value mark. Five Guys only has 87 locations. That is 87 cities or areas where their stores are located. Most of these are in the Washington region, but a hundred more are located along the East Coast this year. There are thousand more being phased into the business plan. Each store, the company says, will make around $1 million per year. Jerry and Janie Murrell and their sons are often asked...
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...“Five Guys Burgers and Fries: Ingredients for Success” How does one start a business in an industry that is dominated by companies that emphasizes speed and quantity over quality? Jerry and Janie Murrell with the help of their sons have come up with a formula to compete and beat some of the top fast foods companies. When the boys where proposed “start a business or go to college”, they picked to be entrepreneurs (Boone and Kurtz, 2012). Jerry Murrell and his wife started Five Guys Burgers and Fries in 1986. They opened the doors to the first carry out store in Arlington, Virginia with a philosophy that is accredited for the success of Five Guys Burgers and Fries. The original values of the company still stand strong today. There are three factors that contribute to the success for the company. Along with the social practices of the company which has also been a factor in the overall success of the company. “Sell a really good, juicy burger on a fresh bun. Make perfect fries. Don’t cut corners” (White 2009). This has been the Murrell’s basic philosophy since the beginning of Five Guys. Five Guys is known as a chain that sells fresh burgers that are never frozen and are prepare when ordered. There are 15 fresh ingredients that allow customers to specialized there burgers just the way they want. The fries are fresh cut and also made to order. The fries are only cooked in peanut oil. When a customer goes inside one of the Five Guys stores they have can see a sign...
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...1. Determine how Five Guys’ philosophy sets it apart from other fast-food chains. The five Guys’ philosophy, Jerry Murrell and his five sons saw the vision to opened a fast food restaurant, on the menu is Americans favorite meal, hamburger and fries. The first store opened in Arlington, Virginia, 1986. Welch (2010) found…Jerry Murrell and his sons believed to set apart for other fast-food chains they would need to concentrate on the quality of the quality of their product, and the satisfaction of their customers. Boone and Kurtz (2012) Found…In his own words, Jerry Murrell’s business plan was simple. “Sell a really good, juicy burger on fresh bun. Make perfect French fries. Don’t cut corners. Five Guys’ burgers are made to order, it is different from the other fast-food chains, not place under a light for extended hours. According to Boone and Kurtz, (2012); the Five Guys Burger stores had a sign “If you are in hurry, there are a lot really good hamburger places with short distance from here.” 2. Analyze the original values for the start-up company and how it remains strong today. Boone and Kurtz (2012) found… the original values from the beginning, Five Guys fast-food restaurant wanted people to known that their money went to providing quality food. Money not spend on décor, the stores have simple red and white tiles. The hamburger meats are 80 percent lean, never frozen, always fresh. The fries are made from potatoes from Northern Idaho. The potatoes in Florida and California...
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...Philosophy: Set apart A fast food burger is a burger, right? Not at 5 guys. Other chains use frozen meat with additional preservatives and have extensive menus with items such as milkshakes, salads, desserts, etc. 5 Guys website states “We follow the philosophy of focusing on a few items, and serving them to the best of our ability. If we were to add to our menu, then you can guarantee that we would only do so if we could serve the highest quality product possible.” (5 Guys Website) They go on to add that if they are not able to do something the very best, better than what is already available out there via other venues, they are not going to do it at all. 5 guys have received several awards for being the best and this philosophy certainly is a big part of how they have maintained such consistent success. If you go into any 5 guys you will clearly see their simple approach from decorating to pounds of potato bags filling the dining area. You know you will get fresh cut fries and that is only one of the many fresh options available. The menu is not extensive as stated already, however it is classic and alluring. You can order a burger “your way” at Burger King, but it’s a whole other ballgame at 5 Guys. Here you can see the fresh selection list of toppings…all free of charge to make your burger the best it can be. This is not stingy burger or fries either. A small fry can easily feed two people as not only is the cup it comes in filled to overflowing, the bag they...
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...Guys Burgers and Fries: Ingredient’s for Success Right way might be the long way but it always pays off. Five Guys Burgers and Fries, one of the fastest growing fast food chain in the country. It might have took them 15 years to open up their 5 burger chain but it took them a year to open their 300 burger chain. Through their 15 years in business they learned what is right for them. Business - consists of all profit-seeking activities and enterprises that provide goods and services necessary to an economic system. 1. Determine how five guy’s philosophy sets it apart from other fast food chains. Jerry Murrell found Five Guys Burgers in 1986. The first store opened in Arlington Virginia. When Jerry Murrell was interviewed, he says there are five reasons why Five Guys’ Burgers is a big success. 1. Receipt for success is to make really good food with no corners cut. 2. The best sales man is the customer. Jerry Murrell says “ treat that person right, he will walk out that door and sell for you.” 3. Every position at the company has value. 4. Know what you did at–and stick to it. 5. Quality is everything. These are the five concepts that set Five Guys burgers apart from other fast food chains. If you look at Mac Donald’s they sell burgers, chicken sandwiches, salads, burritos, ice cream, milkshake and they even have a breakfast menu, same as Burger King and Wendy’s. You can also look at Pizza Hut and Dominos. They are orig Hi there, i have essay which...
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...world of Accounting has seen several major scandals since the early 1990s. These include major accounting failures such as Enron, WorldCom, Adelphia, Tyco, Phar-Mor, Cendant, Computer Associates, AOL, Freddie Mac, ImClone, Qwest Communications, Royal Ahold, Health South Corporation, AIG, Lehman Brothers, and most recently the Olympus Corporation. Some of these have resulted in the collapse and dissolution of the company – Enron, Adelphia; others have resulted in a major restructuring of the company – AOL, AIG, Freddie Mac. Whatever the result, they have all been caused by accounting fraud – either “cooking the books” to hide major losses or to hide the theft of funds. It has also resulted in the failure and absorption of the one of the Big Five Accounting firms – Arthur Anderson. Besides the whistle blower who brought most of these to public view and the lawyers who have been involved their dismantling one of the other major role players, though unsung and unknown, has been the Forensic Accountant. We will be taking a look at this last individual or groups of individuals in most cases. We will look at what they do, their “required” skills and role in courtroom and possibly examine their role in a couple of the noted scandals. The Forensic Account What is a forensic accountant? Bolgna...
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...Entrepreneurial Leadership Five Guys is a large fast-food chain restaurant that stands out among the rest. They have different philosophies that set them apart from other fast-food companies. Many of the values that Five Guys started with have made them succeeded and are still a huge factor in their success today. After being around for seventeen years, Five Guys decided to start franchising the company, which lead to a large success in such a short amount of time. We will also discuss the ethical and social practices that Five Guys have that are a part of their company. Five Guys have a few different philosophies that set them apart from other fast-food chains. The first is that they are not a “fast-serving restaurant,” they take pride in their burgers with having a quality burger, and it being fresh made to order. In the past years they had signs in their restaurants that stated “If you’re in a hurry, there are a lot of really good hamburger places within a short distance from here (Welch).” A second philosophy that they believe in is “their best salesman is their customer (Welch)”. They feel by just treating their customers with respect that that is all the advertising that they need. The original values of Five Guys were “Sell a really good, juicy burger on a fresh bun. Make perfect French fries. Don’t cut corners (Welch).” They use 80 percent lean mean, that is always fresh, they never freeze their burgers. They use a certain process for their fries...
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