He Bought His College Favorite Sandwich Shop — and Grew It

Ashley Morris‘s journey from finance skilled to CEO of Capriotti’s Sandwich Shop is a narrative of perseverance and a relentless ardour for high quality.

Morris fell in love with Capriotti’s in school when his roommate launched him to the model. The roommate mentioned the store was the house of the “biggest sandwich I’ve ever eaten” and insisted he attempt it.

After some convincing, Morris lastly made it to an important sandwich of his life. “I received a cheesesteak from Capriotti’s and thought, Man, that is actually the very best cheesesteak I’ve ever had,” he says. Morris remained a loyal buyer for the remainder of his school days.

Years later, Morris established a profession in finance and labored as a portfolio supervisor at Wells Fargo, and Capriotti’s remained a constant favourite. “I discovered myself nonetheless consuming at this place on a regular basis, loving it and being enthusiastic about going and getting my lunch,” he says.

The obsession led him to open a Capriotti’s franchise with a pal. Morris known as it their “first entrée into Capriotti’s” as absentee franchisees. They purchased three places in three years however needed extra. That is when issues modified.

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If you cannot be part of ’em, personal ’em

A pivotal second got here when Morris realized the model’s potential went past franchise opportunities. Impressed by a poker broadcast describing 26-year-olds as “dinosaurs,” Morris determined it was now or by no means.

Capriotti’s turned down his request to personal greater than three shops, so he tried a unique angle.
”I known as the proprietor again and mentioned, ‘Hey, for those who will not promote me extra shops, then I am going to simply purchase the entire firm,'” Morris tells Shawn Walchef, host of Restaurant Influencers.

The deal closed in January 2008, simply months earlier than the monetary disaster. Not ideally suited timing, however they did not hand over.
”We have been very under-capitalized, [had] completely no franchising expertise in anyway [and] little or no restaurant expertise,” Morris admits.

Regardless of these challenges, he knew this was the place he was meant to be.

As of August 2024, Capriotti‘s has practically 160 shops in operation, with plans to open 12 to fifteen extra by the top of the 12 months. “We have now just below 200 within the improvement pipeline,” Morris shares. The corporate’s imaginative and prescient is bold: 750 worthwhile places by December 31, 2032.

It isn’t simple. Scaling comes with many challenges. Morris highlighted two key blind spots throughout their enlargement: “Blind spot A [was] considering, Hey, you simply exit and put some adverts on tv, life is sweet. That is make-believe. Blind spot B was how exhausting the supply chain is when you do not have crucial mass.”

The options got here by strategic partnerships and methodical development. “We’re able to constructing about 25 new shops a 12 months proper now with the infrastructure we now have,” Morris says.

The CEO goals for extra than simply development for Capriotti’s. He believes in balancing enterprise with purpose. His journey by this enterprise has taught him the significance of mentorship and adaptableness. The emotion of it drives him as a lot now because it did initially. “I simply cared about it extra, I cherished it extra, I received enthusiastic about it,” he says.

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