![]() |
| Company Founder Biographies: Founder bios of some of the most successful people in business today. |
Troy Smith Bio, Founder of Sonic
Smith and his business partners founded Sonic Supply -- later Sonic Industries -- in the 60s, to provide franchisees with the equipment they would need and provide some basic instruction in running the business. Menus varied a great deal, having picked up regional specialties over time -- the Midwestern Sonics often featured a pork tenderloin sandwich, deep-fried pickles were sold in Texas and Oklahoma, and chili recipes were as varied among the many Sonic locations as they were among any other restaurants or home kitchens. By the 70s, when fast-food chains like McDonald's depended on national advertising campaigns and international recognition, this was an enormous deviation from "the way things were done." While a strength in some ways, this seemed to impose a limit on growth -- and there was no quality control either. In 1983, Smith and the Board of Directors brought in a new President (Stephen Lynn), who in turn hired a young lawyer as head of the legal department. Smith and Lynn encouraged franchisees to develop local advertising co-ops, pooling funds for joint advertising to stimulate growth. New franchise agreements were written, and over the next decade, Sonics became more standardized in their procedures, training, and menu offerings. With those changes in place, Sonic has begun to grow again after its brief unprofitable period. |
Read More Company Founder Biographies -Select another successful entrepreneur below: | |||
|