I had my first Five Guys hamburger years ago, well before they took the nation by storm. I'd given up on the other fast food competitors (one almost right next door), despite the price - those burgers over the years had become inedible.
USAToday wrote last week about the chain's success in an article entitled Five Guys found a simple recipe for suceess: Do it right. CEO Jerry Murrell (the patriarch of the five sons for whom the business is named) said, "We did everything we weren't supposed to do." Such as:
USAToday wrote last week about the chain's success in an article entitled Five Guys found a simple recipe for suceess: Do it right. CEO Jerry Murrell (the patriarch of the five sons for whom the business is named) said, "We did everything we weren't supposed to do." Such as:
- Charging more than double the price of competitors. Murrell notes that "Some people said 'I'm not paying that much for a hamburger.' And then we'll say, 'OK, don't pay for it, just take it then.' And you know, in the 25 years we've done that, every single customer's come back and paid it plus a big tip."
- It only sells burgers, hot dogs and fries - no menu expansion.
- It doesn't comparison shop, keeping may of the same vendors it has had for 25 years. It pays a premium for quality products.
- It doesn't advertise, preferring to give workers bonuses instead.
- It pays above minimum wage for crew members, and offers health insurance.
Quality matters.
And it pays.
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