Steve Ritchie is Confident of a Turnaround

Steve Ritchie is taking a proactive approach to turning around the fortunes of Papa John’s. He has spent the last few months traveling the country and meeting with leaders in equality and diversity. He has listened to franchise owners, staff and customers. He knows that Papa John’s has some work to do to win back some of their customers. Steve Ritchie will tackle the problem in two ways.

Steve Ritchie hopes to improve the diversity of the company. He knows that by having a wider range of voices, the company will be stronger. With that in mind, he is providing outreach to obtain more minority owned franchises. He also sees attracting women as franchise owners as equally important. Steve Ritchie is not stopping at just obtaining a wider range of franchisees. He wants Papa John’s to be active in the communities they serve. He also wants to make it easy for their franchise owners to be successful. That might mean a reduction in fees, or it might be a result of lower food prices. Ritchie knows that there will have to be a shift in culture, so that more voices are heard at the company.

The second area Ritchie will have to deal with is the finances. The last 4 quarters have seen a large drop off in sales and profits. The stock price also reflects the sentiment that the company has lost some of its market share. Steve Ritchie is hopeful that the new advertising campaign and a return to the strong values of the company will mean very few store closures. Projections do not account for Papa John’s winning back any of their lost customers, but Ritchie knows that with his hard work, and the help of everyone in the company, they will begin to rebuild their brand, and old and new customers will come to the company.

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