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How Domino’s Pizza Grew 13000% From 2008 To 2020

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How Domino’s Pizza Grew 13000% From 2008 To 2020, Startup Stories,Latest Startup Business News,Domino’s Pizza,Domino's Pizza Earnings,Pizza Market,Domino's CEO,Pizza Hut,Domino's CEO Patrick Doyle, domino's pizza business strategy, domino's pizza history


Pizza is an emotion and is a food which is known all over the world.  A good pizza could often leave an eater speechless and is one food which could be purchased anywhere in the world.  The fame of Pizza and it’s easy availability throughout the world could be attributed in part to the global pizza chains Domino’s Pizza and Pizza Hut.  It is quite easy to find these pizza outlets in multiple localities in any metropolitan and cosmopolitan cities.  While Domino’s Pizza is now a world famous outlet, raking in a lot of revenue owing to its multiple product offerings, it was not always the case.  At one point in time, Domino’s Pizza was struggling to stay afloat due to failing investor confidence in 2008, which is four years after the pizza chain applied for an initial public offering.  

Domino’s Pizza shares were $2.83/share in 2008 and grew to $367/share in 2020.  This is a whopping margin of 13,000 % growth and the way Domino’s Pizza achieved it is a story for the ages and business school case studies.  Keep reading to find out how Domino’s Pizza managed this fairytale turnaround.

Domino’s Pizza was founded in 1960 by 23 year old Tom Monaghan who dedicated his entire focus on reducing delivery time, reducing cooking time and increasing distribution.  Monaghan’s emphasis on speed and service led to groundbreaking growth with which competitors found it hard to compete.  The ‘30 Minutes or It’s Free’ slogan guarantee, only cemented their place in the hearts of the hungry people everywhere.  

In 2004, Domino’s Pizza applied for an IPO and by 2008 , they scaled to a multi billion dollar business.  But, prospects were looking dim in 2008 even after applying for an IPO because growth had stalled, competitive threats from Pizza Hut and a $ 1 billion dollar debt on Domino’s’ balance sheets.

ALSO READ: How KhataBook Grew From Simple SMS App To Leading FinTech App In India

Domino’s Pizza did a focus group analysis and found out they were good at everything else except pizza.  The focus groups found Domino’s pizza tasted like cardboard, totally devoid of flavour and the sauce tasted just like ketchup.  This was due to a number of trade offs which were made in the name of speed like canned and frozen ingredients.  

Patrick Doyle, the then CEO of Domino’s Pizza leaned into the feedback and launched an ad campaign which said “Our Pizza Sucks” and promised to go back to the drawing board to work on the criticism from the focus groups.  The culinary team had to reinvent their pizza and had to build it from scratch.  The culinary team ended up testing more than 7500 combinations.  Many on the executive team at that time were in fear of failure.  There was a fear of the testing leading to even larger problems and a chance of losing the advantage of speedy delivery.  

Doyle had to break through the loss aversion barrier which means the mindset of playing not to lose rather than playing to win.  Doyle would say “The pain of loss is double the pleasure of winning (sic,)” meaning even he advised caution during situations which demand creativity.  The reinvention paid off as customers loved every new recipe launched by Domino’s Pizza and an example would be the pan pizza which was released in 2012 and is still in circulation.  Doyle’s reinvention showed customers that Domino’s Pizza cared about their feedback.  Following the success of their newly reinvented pizza, Domino’s Pizza focused on improving distribution channels and delivery technology.  Since then, there has been no stopping Domino’s Pizza, and their share price in 2020 only serves to show the trust their customers have on them.

feaWe hope this article has awakened a craving for a Domino’s PIzza in you.  Do let us know in the comments if there are any similar growth stories you know off and we would be glad to cover them on Startup Stories.

 

Entrepreneur Stories

Inside T-Hub: India’s Launchpad for Innovation and Entrepreneurship

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Aerial view of T Hub Hyderabad

Imagine a building that’s not just a structure but a buzzing ecosystem. A space where startups, corporations, universities, and investors come together to create the future. This isn’t science fiction; it’s T-Hub, India’s largest innovation hub, and it’s rewriting the rules of entrepreneurship.

T-Hub isn’t just about workspaces. It’s a launchpad for ambitious dreams. They’ve empowered over 2,000 startups, turning ideas into thriving businesses. Think funding woes? T-Hub’s got your back, connecting entrepreneurs with angel investors and government grants. Need a mentor to guide you through the rough patches? T-Hub boasts a network of 2,000 mentors ready to share their wisdom.

T-Hub’s vision extends beyond startups. Here’s a glimpse into what makes T-Hub special:

  • From Seed to Scale: Whether you’re a budding entrepreneur with a bright idea or a scaling startup ready to take on the world, T-Hub has programs to support you. From the “seed-accelerator stage” Lab32 program to the “early-stage technology startups” RubriX program, T-Hub provides the tools and guidance needed to thrive.
  • Corporate Muscle: Innovation isn’t just for startups. T-Hub bridges the gap between startups and established corporations like Facebook, Uber, and Boeing. This collaboration allows startups to tap into corporate expertise and resources, while corporations benefit from the agility and fresh perspectives that startups bring.
  • Funding Powerhouse: T-Hub is more than just an idea incubator; it is also a reality maker. Through initiatives like T-Angel and the Digital India Scaleup Program, T-Hub connects startups with high-net-worth individuals, angel investors, and government funding sources.
  • Global Ambitions: Thinking Beyond Borders? T-Hub has you covered. With partnerships across the globe, from the UK government to La Trobe University, T-Hub helps Indian startups access international markets and provides foreign startups with a foothold in India.

And it doesn’t stop there. T-Hub 2.0, their new colossal campus, is a testament to their ambition. This behemoth is not just the world’s largest technology incubator; it’s a microcosm of innovation itself. Universities find a home here, churning out future tech leaders. Foreign partnerships open doors to international markets for Indian startups. It’s a melting pot of ideas, cultures, and expertise, all focused on creating a brighter tomorrow.

T-Hub’s story is far from over. They’re aiming to empower a staggering 20,000 startups in the next five years. With their focus on internationalization and capacity building, they’re poised to become a global hub for innovation. So, if you’re an entrepreneur with a dream, T-Hub might just be the launchpad that takes you to the stars.

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Emerging Startup Stories

Discover Kheyti, The Startup Changing The Lives of Farmers In India

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Kheyti, India Farmers Lives, Startup Stories, Latest Business News 2023, Entrepreneur Inspiring Stories, Agri Tech Startup Kheyti, Kheyti Founders, India Agriculture, Agriculture Farming, Kheyti Scheme, Small holders Farmers,Smart farmers, Smart Greenhouse For Indian Farmers, Indian Startup Kheyti, Kheyti Startup,Saumya, Kaushik Kappagantula, Sathya Raghu, Greenhouse in a Box, Small Farmers in India

Farming has been an integral part of India’s history and culture for ages. It’s been the foundation of the Indian economy, supporting millions of people with food and jobs. Crops and agriculture hold immense importance in Indian society, not just in terms of money, but also in terms of culture, community, and spirituality.

Farming is a way of life for many people in India, but it can be a difficult and unpredictable business and farmers face a number of challenges, from erratic weather patterns to low market prices for their crops. Kheyti is a social enterprise founded in 2015 by Saumya, Kaushik Kappagantula, and Sathya Raghu. The organisation provides sustainable solutions to small farmers in India, helping them overcome challenges and improve their lives.

Kheyti’s flagship product is the “Greenhouse-in-a-Box,” a low-cost modular greenhouse that allows farmers to grow high-value crops year-round, even in unfavourable weather conditions. operates on a subscription-based model, where farmers can purchase a “Greenhouse-in-a-Box” kit or sign up for crop advisory services on a monthly or annual basis. Kheyti.com also earns revenue by connecting farmers with markets and buyers, taking a small commission on sales. They work to keep the costs low by partnering with local manufacturers to produce their products and leveraging tech to provide personalised crop advisory services at scale.

They also provide crop advisory services to farmers, offering personalised advice on crop selection, planting, and management. In total, The company has helped over 6,000 small farmers increase their incomes by an average of 300%. You call them small farmers, Kheyti calls them Smart farmers!

While there are other companies in India that offer similar solutions to small farmers, Kheyti stands out for its focus on sustainability, innovation, and community involvement. It works closely with farmers to develop tailored solutions that meet their needs while focusing on sustainable farming practices. Through its efforts, Kheyti has improved soil health, reduced water usage, and increased yields of various crops.

Looking ahead, Kheyti plans to expand its reach to more farmers in India and beyond and aims to continue developing new products and services that can help small farmers overcome the challenges they face. With its commitment to sustainability and innovation, The visionaries at Kheyti claim it has the potential to transform the agricultural sector and contribute to a more equitable future for all.

Imagine the joy and hope Kheyti brings to struggling farmers in India. With Kheyti’s help, over 6,000 small farmers have transformed their lives, becoming Smart farmers who handle challenges and succeed. With sustainable solutions, Kheyti is not only revolutionising agriculture but also spreading hope for a brighter future.

 

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Emerging Startup Stories

Suki: This Startup Wants To Transform Healthcare With Its Artificial Intelligence Tool

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Suki: This Startup Wants To Transform Healthcare With Its Artificial Intelligence Tool

We live in a rapidly transforming era where humanity is making exponential leaps in technology.  Thirty years ago, no one would have believed you could talk to an online voice assistant to create tasks and get things done.  Ten years ago, no one would have believed humanity would land robots on Mars.  Technology truly has improved the quality of living of every human who owns a smartphone and has access to an internet connection.  Voice assistants are slowly replacing manual tasks and making lives easier and efficient.  Siri, Alexa, Google Voice Assistant are just some of the widely used artificial intelligence based tools which are employed on a daily basis.  Artificial intelligence, which is hailed as the technology of the future is now slowly making its way into much more complex domains like self driving vehicles, quantum computing and also health care.

Suki, a United States of America based startup founded by Punit Soni, developed their own voice assistant which runs on artificial intelligence to simplify healthcare for doctors and other healthcare professionals.  In simple terms, Suki is akin to Siri for doctors.  While you could order a pizza or schedule an appointment on Siri, doctors could modify, edit and add health records of their patients.  Suki is a powerful tool to help doctors with documentation of health records which often take hours of their (doctors) time.  

Suki currently focuses on documentation but has the potential to expand its usage to data queries, ordering, prescribing and billing.  According to a white paper published by Suki, using its technology increases the time a doctor spends with a patient by 12% by cutting note taking time by 76%.  The time which is saved also brings in a financial benefit of $30,000 more in revenue a year on average for doctors.  

Suki raised a $ 20 million Series B round from Flare Capital Partners, First Round Capital, and Venrock, doubling its total funding to $ 40 million since its 2017 launch.  Suki is also looking to expand its reach in India and has decided to establish Bangalore as their base of operations.  India holds a lot of potential for Suki considering the amount of manual work which goes into almost any sector.  

It would be interesting to watch how Suki and other similar AI based startups would transform healthcare across the world.

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