First, I’d like to welcome you all to the 2009 Arby’s, Inc share holder’s meeting. Mr. Chairman, esteemed board members, and my fellow share holders, I am pleased to announce that the state of Arby’s is strong. In the past year, we’ve recommitted ourselves to our core mission, and in doing so, have once again increased our market share and profit margins. (applause)
What is that mission? First, we must answer this question: who are we? We are mavericks in the world of fast food, offering unique and better tasting alternatives to our competitors. And we’ve been mavericks for for over 45 years. (applause)
What drives our success? Oven roasted, thinly sliced roast beef sandwiches piled high and smothered in cheddar? Our tangy Horsey Sauce? Curly fries? Jamocha Shakes? The Pepper Jack Belt Buster? Our Chocolate Gravy Melts? If you answered yes or nodded your head, you’re only partially right. (laughter, applause)
I believe, and I think you’ll agree with me, that what really drives our success and growth is our dedication to innovaiton. Yes, that’s right. Innovation. It’s that spirit of innovation that made Gary Jacobsen, Arby’s franchisee number 1198, to increase his sales 25% by putting cheese dispensers at every single booth (applause). Or franchisee number 2489, Troy Axeford, to include cookie bread on the menu for the very first time (applause). Or Ted Margaritte, from right here in Gary, to turn all his menu items into an anagram (applause).
Okay, settle down. Settle down. (laughter)
Innovation. One word. Four syllables. Earth changing ideas. And today, fellow share holders, we bring to you an innovation that our development team thinks will forever change the way the nation consumes fast food. It’s okay, you can applaud there. (laughter, applause)
We began this process by asking ourselves a simple question. Why do people like to eat fast food? And, on behalf of the development team, the board of directors, the Chairman, and myself, I believe you will be excited by what we came up with — a radically new business model that will propel Arby’s, inc. into the future.
We believe that people want to eat fast food, Arby’s in particular, because they cannot make the food themselves. Our proposal is to teach the consumer how to make Arby’s delicious roasted beef sandwhiches by offering a series of training seminars and workshops, taught by our staff of fast food employees, counter people and staff. (applause)
Not only will this business model open up a valuable new revenue stream, it will change our relationship with the customer base from a simple producer-consumer dynamic to a community of producer/consumer/producers. We believe that people will be so excited by the prospect of making Big Montanas and that their desire to create them will be so impossible to saetiate, that they will voluntarily work in our fast food kitchens after taking our seminars simply for the joy of cooking, providing a free labor force. (applause)
Of course, as a token gesture, students and graduates from Arby’s University (laughter) will continue to eat at Arby’s for free. As more of our paying customers take our Arby’s seminars, we will need to do this to shore up our Arby’s consumer base. Those Cheese Shakes aren’t going to drink themselves! (laughter, applause)
Of course, we’ve anticipated the problems that this re-imagining of our business model will cause. Naturally, as more students and less experienced students man the kitchen, food quality and service will inevitably suffer as people start learning the ropes. The solution we arrived at was to make sure at least one item on every tray was cooked or prepared by a fully trained staff member, so that our paying customers will always walk away at least partially satisfied. (applause)
This is the only problem we foresee. (applause)
This is an exciting time for Arby’s. We are on the verge of a 21st century model for capitalism and consumption. We envision each Arby’s restaurant will be a hub of fast food scholarship. As these communities grow, lively debates on the nature and proper execution of Roasted Beef will flourish. Small regional differences between each restaurant will develop over time, as teachers and students evolve their own styles and philosophies. Eventually, we foresee a time when some Arby’s are unrecognizable from other Arby’s restaurants. (applause) And this ongoing dialogue will benefit and further the art of Roast Beef for all time.
This is an exciting time. Again, on behalf of the Board of Directors, I’d like to thank you for your ongoing support. With this fool proof model, we look forward to future profit windfalls and next year’s share holder meeting! (applause)
