After Jimmy John Liautaud graduated second to last in his class at Elgin Academy in 1982, his father gave him a choice to either join the military or start a business.5] Liautaud chose the latter and his father lent him $25,000 to start a hot dog business, with the son owning 52% of the business and his father owning 48%.[6] He soon realized that a hot dog business would cost more than he had, so he decided to open a sandwich shop.[7
On January 13, 1983, Liautaud, then 19 years old,3] opened the first Jimmy John's in a garage in Charleston, Illinois. Paying $200 a month in rent, Liautaud could only afford used equipment consisting of a refrigerator, a chest freezer, an oven, and a meat slicer.[8]
The store was able to realize a profit its first year of business, despite the poor location of the store, due to Jimmy John's willingness to deliver his sandwiches to the nearby dorms at Eastern Illinois University, as well as his handing out free samples for marketing purposes.[9
In April 1985, Liautaud bought out his father's interest in the business, becoming the sole owner. In 1986, he opened his second store in Macomb, Illinois, and in 1987, he opened a third in Champaign, Illinois.citation needed]
In 1988, Liautaud met Jamie Coulter, who would later become the CEO of Lone Star Steakhouse & Saloon. Coulter mentored Liautaud and "taught [him] how to effectively run multiple units."[7]
Liautaud began franchising in 1994. He partnered with Weston Presidio, a private-equity firm, in 2007 to acquire better locations for his store.
Liautaud continued opening more stores and developed a prototype before beginning franchising in 1994. Franchising continued until 2002, when Liautaud stopped selling franchises for one year to give support to stores that were struggling.[10] The first franchise store opened in Eau Claire, Wisconsin. In 2001, the hundredth Jimmy John's store opened in Mt. Pleasant, Michigan. In 2007, the five-hundredth store opened in Seattle, Washington, and in 2010, the thousandth opened in Beaverton, Oregon.[11] As of March 2017[needs update], Jimmy John's has almost 3,000 stores with plans for expansion up to 5,000 and beyond.[12]
Liautaud realized that, in order to grow, he would need help acquiring better locations for his stores. Since he had little expertise in real estate, he decided to take on a partner who did. In January 2007, Liautaud sold a 33% stake to Weston Presidio, a San Francisco–based private-equity firm.[13] In the first year after partnering with Weston Presidio, 100 real estate deals were closed.[7] The company has completed two recapitalizations since Weston Presidio's investment.[14]
In the summer of 2015, pictures of Liautaud posing with big game circulated on social media, leading to increased calls to boycott his restaurants. In a 2015 interview with the Chicago Tribune, Liautaud said, "I don't hunt big African game anymore."[9]
In September 2016, Jimmy John's announced that Roark Capital Group had agreed to acquire a majority stake in the company. Terms of the transaction were not immediately disclosed, though it was later clarified that Liautaud retained 35% ownership of the company as part of the deal.[15] As part of the agreement, Liautaud would continue as chairman of the board.[16
On September 25, 2019, Inspire Brands (affiliated with Roark Capital Group) announced that it was buying Jimmy John's for an unspecified amount in a deal unanimously approved by Liautaud and the rest of the Jimmy John's board of directors.18] At the close of the deal, Liautaud would step down as chairman of the company and transition to become an adviser to the brand.[19[21] The acquisition was completed on...
Read moreIt was Pets and Such, that I got stuff from. The customer service is pretty open-minded. The family company that it is is not underdeveloped, but they are still easy-going. The main reason I go is for rodents, but they have those underground-vibe exotic employees too, that specialize in different life. I would regret not giving this five stars because there was a good feeling there. Nothing at all to complain about, but I will say that it is not the only crazy animal store out there. Smart pets.... you can buy intelligent animals here. Also, they have parrots, important...
Read moreThe food was delicious, I order lamb coconut curry , my daughter chicken coconut curry and my wife a noodle dish, each plate cooked perfectly, taste amazing and when we were delighting ourself with the delicious food , the owner Narayan came out to say hello, and invite us with a mango smoothie, I have no words to describe the experience, I just can say, don’t lose the opportunity to have the same wonderful time coming here , see my picture and you...
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