After some dismal months of poor sales, Papa John’s is more determined than ever before to make a comeback. The company has acquired financial advice from Bank of America Corp. and Lazard Ltd. as an attempt to maintain Papa John’s functionality in the coming months. In their fourth quarter, Papa John’s is expected to start campaigning vigorously with new advertisement and marketing, courtesy of Endeavor Global Marketing.
Steve Ritchie, who acquired the CEO position at Papa John’s in January 2018, wishes nothing more than to see Papa John’s implanted within the community. He plans to engage in the company in community projects geared toward women and minorities, and he says that he is only getting started. He also strives to administer a franchise program envisioned to enable North American business owners. These franchise programs will consist of educational packets, rebranding materials, and supplemental funding which can be applied to marketing and re-imaging costs.
As stated by QSR Magazine, Papa John’s margins are expected to increase by this time next year; this is as long as Papa John’s plan is successful. Steve Ritchie indicates that Papa John’s has no intentions of selling at the moment, but there is much work to be done and customers can expect store closures.
In an attempt to ensure that Papa John’s employees and franchisees are culturally and racially aware, new cultural training programs to be implemented into standard training procedures. These training programs are designed to remove potential personal biases in the workplace. The program is to created for employees to be able to interact with all customers of diverse backgrounds. Steve Ritchie, says that he and the other members of the leadership team at Papa John’s have already taken the program, and believe that the course would do good to promote their cause. Steve Ritchie and Papa John’s recently hired, Victoria Russell for the new Chief of Diversity and Inclusion position, this was in addition to Nimbus to fill the newly created position of the multicultural agency. Steve Ritchie also purposes to guarantee that employees, franchisees, and customers, are satisfied with those changes.