Five Guys Burger and Fries

The Economics of Five Guys

Anthony McMurray

BUS 508

Dr. Phyllis Parise

This assignment will discuss the successful steps that the owners of the Five Guys Burgers and Fries have been able to accomplish due to the simple business plan that was put into place prior to opening their restaurant. We will see that the basic human principles about how we should treat others; will also allow a company to become successful. The success that has been possible for this hamburger and fries restaurant could have easily failed against the big name restaurants known for burger and fries, such as, McDonalds, Burger King, Checkers and Sonics. However, the company has had great success even through a tough economic recession. In this assignment, I will discuss topics such as their business philosophies, the original values of the company, factors that have contributed to their success and how ethical and societal practices that they provide for their customers and employees have helped this company thrive.

The Murrell family was a close knit family who supported their two sons who decided not to attend college after their graduation from high school. They had dreams of owning their own family restaurant. Their parents invested the money that they had been saving over the years and allowed them to begin their first business. Although they were not sure if the business would be a success or a failure, they were supportive of their sons ideas and dreams with the hamburger restaurant allowed them the chance to begin the restaurant that many of us know today as, Five Guys Burgers and Fries. The entrepreneurial attitude along with the supportive family venture allowed this family to become successful in their business endeavors. Their philosophy is simple

sell a really good, juicy burger on a fresh bun. Make perfect French fries. Don't cut corners. That's been the business plan since Jerry Murrell and his sons opened their first burger joint in 1986. When they began selling...