Domino's Pizza was founded in 1960, in Ypsilanti Michigan by Tom and James Monahan, and is a publicly traded company listed on the New York Stock Exchange under the symbo...
Domino's Pizza was founded in 1960, in Ypsilanti Michigan by Tom and James Monahan, and is a publicly traded company listed on the New York Stock Exchange under the symbol DPZ.
The story of Domino's starts in 1960 when Tom and James Monaghan bought a small pizza store in Ypsilanti named DomiNick's. The brother put dwon $75.00 as a down payment and borrowed $500 to pay for the store. Shortly thereafter, James traded his half of the business for a used car, leaving Tom and the sole owner. In 1965 he renamed the business Domino's Pizza, Inc. The first franchise was opened in 1967. The company had planned to add a dot in the logo each time they added a new store, but that idea quickly died as the company started a very rapid growth. By 1978, they had opened 200 locations. In 1975 a lawsuit was filed by Amstar, who makes Domino Sugar for trademark infringement, but in May of 1980 a federal court found in favor of Domino's Pizza.
In 1983 Domino's would open its first international location which was in Winnipeg, Manitoba Canada, and later that year Domino's opened its 1,000th location. In 1997 Domino's boasted of1,500 international locations across five continents.
After 38 years of ownership, Tom Monaghan, Domino's founder retired and sold 93% of the company to Bain Capital for $1 billion and left the day to day operations.
Domino's has come a long way since the first location. It now features a variety of Italian American entrees and side dishes. Pizza is still the main product offering available in a variety of crusts and toppings. A vast improvement to its beginnings offering one pizza in two sizes, 11 toppings and Coke as the only drink.
In 2010, the company changed its pizza recipe, making significant changes in the dough, sauce and cheese used the Domino's Pizza in response to its customers perception of products taste.