Schlotzsky's
Encyclopedia
Schlotzsky's is a privately held
franchise chain of restaurant
s, specializing in sandwich
es, headquartered in Downtown
Austin, Texas
. Schlotzsky's has more than 350 franchised and company-owned locations worldwide. Most of the locations are across the south and southwestern United States
, but the company is expanding into areas across the country, particularly the north and southeast.
. The initial menu
consisted of one sandwich of mixed meat
s, cheese
s and black olive
s on a freshly made, toast
ed bun
. The sandwich was called "The Original." The first sandwich was based on the Muffuletta
sandwich. In 1981, the company had 100 franchise stores. Real Estate investors, John and Jeff Wooley and Gary Bradley purchased the company for less than $3 million. Bradley split with the Wooleys in 1982. Bradley took the real estate business and the Wooleys kept Schlotzsky's.
The Wooleys expanded Schlotzsky's menu to include panini
, specialty pizza
s, toasted wrap
s, freshly tossed salad
s, soup
s, and other items. The Wooleys also took the company public
on December 15, 1995, trading as BUNZ on NASDAQ
until 2004, the same year that Bobby Cox Companies came on board.
The chain peaked in 2001 with 759 stores and over $400 million in sales, when same store sales started to plateau. In 2003, the company posted an $11.7 million loss. The Schlotzsky's board of directors
relieved the Wooley brothers from day-to-day management on June 17, 2004 and named Sam Coats as the new chief executive officer
of the company. Under pressure, the Wooleys resigned from the board in July 2004.
In 2004, the company ceased trading on NASDAQ
and Bobby Cox Companies came on board. Under new ownership and management, Schlotzsky’s spent two years strengthening its franchise operations and reinvigorating the brand. The new owners operated the business under the corporate entity Schlotzsky's, Ltd., and began streamlining the menu. Under new ownership and management, Schlotzsky's has strengthened franchise operations and is licensing new franchisees in Texas and other states. The company also plans to open several new corporate-owned stores.
On November 21, 2006, Schlotzsky's was acquired by FOCUS Brands
, an affiliate of private equity firm Roark Capital Group
, parent company of Moe's Southwest Grill
, Carvel
, Cinnabon
and Auntie Anne's
. The following year, the company named Kelly Roddy as president, who joined Schlotzsky's from H-E-B Grocery Company. With Kelly on board, Schlotzsky's began to plan for growth along with a systemwide reimage, which included updated restaurants, improved menus, table service, and the addition of Cinnabon. The company is currently remodeling its locations across the country with a "Lotz Better" look, which includes bright, bold colors, circle-themed furniture and decor and playful slogans.
Austin, Texas
.
Before moving in to 301 Congress, Schlotzsky's was located at 203 Colorado in downtown Austin.
Privately held company
A privately held company or close corporation is a business company owned either by non-governmental organizations or by a relatively small number of shareholders or company members which does not offer or trade its company stock to the general public on the stock market exchanges, but rather the...
franchise chain of restaurant
Restaurant
A restaurant is an establishment which prepares and serves food and drink to customers in return for money. Meals are generally served and eaten on premises, but many restaurants also offer take-out and food delivery services...
s, specializing in sandwich
Sandwich
A sandwich is a food item, typically consisting of two or more slices of :bread with one or more fillings between them, or one slice of bread with a topping or toppings, commonly called an open sandwich. Sandwiches are a widely popular type of lunch food, typically taken to work or school, or...
es, headquartered in Downtown
Austin
Austin is the capital of the U.S. state of Texas.Austin may also refer to:-In the United States:*Austin, Arkansas*Austin, Colorado*Austin, Chicago, Illinois*Austin, Indiana*Austin, Minnesota*Austin, Nevada*Austin, Oregon...
Austin, Texas
Austin, Texas
Austin is the capital city of the U.S. state of :Texas and the seat of Travis County. Located in Central Texas on the eastern edge of the American Southwest, it is the fourth-largest city in Texas and the 14th most populous city in the United States. It was the third-fastest-growing large city in...
. Schlotzsky's has more than 350 franchised and company-owned locations worldwide. Most of the locations are across the south and southwestern United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
, but the company is expanding into areas across the country, particularly the north and southeast.
History
Don and Dolores Dissman founded the company in 1971 in Austin, TexasAustin, Texas
Austin is the capital city of the U.S. state of :Texas and the seat of Travis County. Located in Central Texas on the eastern edge of the American Southwest, it is the fourth-largest city in Texas and the 14th most populous city in the United States. It was the third-fastest-growing large city in...
. The initial menu
Menu
In a restaurant, a menu is a presentation of food and beverage offerings. A menu may be a la carte – which guests use to choose from a list of options – or table d'hôte, in which case a pre-established sequence of courses is served....
consisted of one sandwich of mixed meat
Meat
Meat is animal flesh that is used as food. Most often, this means the skeletal muscle and associated fat and other tissues, but it may also describe other edible tissues such as organs and offal...
s, cheese
Cheese
Cheese is a generic term for a diverse group of milk-based food products. Cheese is produced throughout the world in wide-ranging flavors, textures, and forms....
s and black olive
Olive
The olive , Olea europaea), is a species of a small tree in the family Oleaceae, native to the coastal areas of the eastern Mediterranean Basin as well as northern Iran at the south end of the Caspian Sea.Its fruit, also called the olive, is of major agricultural importance in the...
s on a freshly made, toast
Toast
Toast is bread that has been browned by exposure to radiant heat. This browning reaction is known as the Maillard reaction. Toasting warms the bread and makes it firmer, so it holds toppings more securely...
ed bun
Bun
A bun is a small, usually sweet, bread. Commonly they are hand-sized or smaller, domed in shape, with a flat bottom. A bun can also be a savory bread roll similar to a bap or barmcake....
. The sandwich was called "The Original." The first sandwich was based on the Muffuletta
Muffuletta
The muffuletta is a type of round Sicilian sesame bread, as well as a submarine sandwich made with that bread that originated from New Orleans, Louisiana.-Bread:...
sandwich. In 1981, the company had 100 franchise stores. Real Estate investors, John and Jeff Wooley and Gary Bradley purchased the company for less than $3 million. Bradley split with the Wooleys in 1982. Bradley took the real estate business and the Wooleys kept Schlotzsky's.
The Wooleys expanded Schlotzsky's menu to include panini
Panino
Panini are small, filled, bread rolls, which are sometimes toasted. They are Italian in origin, but now found in other countries.In Italy, panino is the word for a sandwich made with a bread roll. Sandwiches there are customarily made from a roll or loaf of bread, typically a ciabatta or a rosetta...
, specialty pizza
Pizza
Pizza is an oven-baked, flat, disc-shaped bread typically topped with a tomato sauce, cheese and various toppings.Originating in Italy, from the Neapolitan cuisine, the dish has become popular in many parts of the world. An establishment that makes and sells pizzas is called a "pizzeria"...
s, toasted wrap
Wrap (food)
A wrap is a sort of sandwich made of a soft flatbread rolled around a filling. The usual flatbreads are wheat-flour tortillas, lavash, or pita; the filling usually consists of cold sliced meat, poultry, or fish accompanied by shredded lettuce, diced tomato or pico de gallo, guacamole, sauteed...
s, freshly tossed salad
Salad
Salad is any of a wide variety of dishes, including vegetable salads; salads of pasta, legumes, eggs, or grains; mixed salads incorporating meat, poultry, or seafood; and fruit salads. They may include a mixture of cold and hot, often including raw vegetables or fruits.Green salads include leaf...
s, soup
Soup
Soup is a generally warm food that is made by combining ingredients such as meat and vegetables with stock, juice, water, or another liquid. Hot soups are additionally characterized by boiling solid ingredients in liquids in a pot until the flavors are extracted, forming a broth.Traditionally,...
s, and other items. The Wooleys also took the company public
Initial public offering
An initial public offering or stock market launch, is the first sale of stock by a private company to the public. It can be used by either small or large companies to raise expansion capital and become publicly traded enterprises...
on December 15, 1995, trading as BUNZ on NASDAQ
NASDAQ
The NASDAQ Stock Market, also known as the NASDAQ, is an American stock exchange. "NASDAQ" originally stood for "National Association of Securities Dealers Automated Quotations". It is the second-largest stock exchange by market capitalization in the world, after the New York Stock Exchange. As of...
until 2004, the same year that Bobby Cox Companies came on board.
The chain peaked in 2001 with 759 stores and over $400 million in sales, when same store sales started to plateau. In 2003, the company posted an $11.7 million loss. The Schlotzsky's board of directors
Board of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
relieved the Wooley brothers from day-to-day management on June 17, 2004 and named Sam Coats as the new chief executive officer
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
of the company. Under pressure, the Wooleys resigned from the board in July 2004.
In 2004, the company ceased trading on NASDAQ
NASDAQ
The NASDAQ Stock Market, also known as the NASDAQ, is an American stock exchange. "NASDAQ" originally stood for "National Association of Securities Dealers Automated Quotations". It is the second-largest stock exchange by market capitalization in the world, after the New York Stock Exchange. As of...
and Bobby Cox Companies came on board. Under new ownership and management, Schlotzsky’s spent two years strengthening its franchise operations and reinvigorating the brand. The new owners operated the business under the corporate entity Schlotzsky's, Ltd., and began streamlining the menu. Under new ownership and management, Schlotzsky's has strengthened franchise operations and is licensing new franchisees in Texas and other states. The company also plans to open several new corporate-owned stores.
On November 21, 2006, Schlotzsky's was acquired by FOCUS Brands
FOCUS Brands
Focus Brands is an affiliate of the Atlanta-based private equity firm, Roark Capital Group, that owns the Schlotzsky's, Carvel, Cinnabon, and Moe's Southwest Grill brands. It purchased Cinnabon from AFC Enterprises in 2004 and Schlotzsky's from Bobby Cox Companies in 2006...
, an affiliate of private equity firm Roark Capital Group
Roark Capital Group
Roark Capital Group is a private equity firm focused on leveraged buyout investments in middle-market companies primarily in consumer and business services companies. Roark has historically focused on the franchise, food and restaurant, specialty retail, environmental services, waste management,...
, parent company of Moe's Southwest Grill
Moe's Southwest Grill
Moe's Southwest Grill is an American chain of fast casual style Tex-Mex restaurants headquartered in Atlanta, Georgia.Moe's was founded in Atlanta, Georgia, in December 2000, by Raving Brands. In August 2007, the brand was purchased by FOCUS Brands...
, Carvel
Carvel
Carvel is an ice cream franchise owned by Focus Brands. Carvel is best known for their soft serve ice cream and ice cream cakes, which feature a layer of distinctive 'crunchies'. It also sells a variety of novelty ice cream bars and ice cream sandwiches....
, Cinnabon
Cinnabon
Cinnabon is a chain of American baked goods stores and kiosks, normally found in high-traffic areas such as malls. The company's signature item is a grande cinnamon roll. As of July 2009, over 750 Cinnabon bakeries are in operation in over 30 countries around the world...
and Auntie Anne's
Auntie Anne's
Auntie Anne's, based in Lancaster, Pennsylvania, is an American chain of pretzel bakeries founded by Anne F. Beiler and her husband, Jonas, in 1988. Auntie Anne's serves products such as pretzels, dips, and beverages...
. The following year, the company named Kelly Roddy as president, who joined Schlotzsky's from H-E-B Grocery Company. With Kelly on board, Schlotzsky's began to plan for growth along with a systemwide reimage, which included updated restaurants, improved menus, table service, and the addition of Cinnabon. The company is currently remodeling its locations across the country with a "Lotz Better" look, which includes bright, bold colors, circle-themed furniture and decor and playful slogans.
Headquarters
Schlotzsky's headquarters are located at 301 Congress in downtownDowntown Austin
Downtown Austin is the central business district of Austin, Texas. Downtown is located on the north bank of the Colorado River. The approximate borders of Downtown include Lamar Boulevard to the west, 11th Street and sometimes Martin Luther King, Jr...
Austin, Texas
Austin, Texas
Austin is the capital city of the U.S. state of :Texas and the seat of Travis County. Located in Central Texas on the eastern edge of the American Southwest, it is the fourth-largest city in Texas and the 14th most populous city in the United States. It was the third-fastest-growing large city in...
.
Before moving in to 301 Congress, Schlotzsky's was located at 203 Colorado in downtown Austin.
Slogan
Current slogans are "All 'Round, Lotz Better," "Lotz Better," "Every Bite Lotz Better." Former slogans include "Funny name. Serious sandwich." and "Just one sandwich, it's that good."External links
- Schlotzsky's Official website