This Franchisee Owns 112 Restaurants and Gives Ownership Stakes to His Staff: ‘It Helps Them Know It’s a Team’

The approach taken by Wade Oney, President of Bam-Bamy Pizza, is a unique and forward-thinking strategy in the restaurant industry. By giving ownership stakes to his staff, including managers, supervisors, and executives, Oney is creating a sense of community and teamwork among his employees. This move is likely to boost morale, increase job satisfaction, and encourage staff to take a more active role in the success of the business. It's a clever way to retain top talent and motivate them to work towards a common goal.

This model is particularly interesting in the context of the broader restaurant industry, where high staff turnover rates are a common challenge. By offering a stake in the business, Oney is providing his staff with a sense of ownership and accountability, which can lead to improved customer service, increased productivity, and better decision-making. It's also a way to attract and retain top performers, as the opportunity to own a part of the business can be a major draw for ambitious and motivated individuals. As the restaurant industry continues to evolve, it will be interesting to see if other businesses follow Oney's lead and adopt similar models.

As the story of Bam-Bamy Pizza continues to unfold, it will be worth watching to see how this approach impacts the business's bottom line and overall success. Will the staff ownership model lead to increased revenue and growth, or will it present new challenges and complexities? How will Oney balance the needs and interests of his staff owners with the demands of running a large and successful business? These are all questions that will be worth exploring in the coming months and years, as this innovative approach to staff ownership and management continues to play out.

Originally reported by entrepreneur.com. BusinessNews adds analysis for business & startups readers.