Wade Oney’s career in the pizza industry began in 1981 as a store assistant at Domino’s. Over the decades, he has risen to own 112 restaurants across three brands, including 96 locations of Papa Johns. His franchise group, Bam-Bam Pizza Inc., reportedly generates annual revenues of approximately $160 million.
Oney’s journey in the fast-food sector includes over ten years at Domino’s, where he ascended through various roles before being recruited by Papa Johns to help expand the company. He served as the Chief Operating Officer (COO) before transitioning to focus exclusively on franchise ownership in 2000, increasing the number of stores under his management from 35 to 96.
A notable aspect of Oney’s business model is his initiative to involve employees in ownership. He allows managers, supervisors, and executives to purchase minority stakes in the restaurants they oversee. Currently, between one-third and one-half of his leadership team have ownership interests in the business. Oney emphasizes the benefits of this approach, stating, "It helps them know it is a team and a career and not just a job." This strategy has fostered a culture of investment and commitment among his staff, which he asserts has been positively received.
Why this story matters
- Highlights innovative employee ownership strategies in the franchise industry.
Key takeaway
- Wade Oney’s approach not only drives business growth but also enhances employee engagement and morale.
Opposing viewpoint
- Critics may argue that the emphasis on ownership may distract employees from their primary responsibilities or create conflicts of interest.
