Cuppy's New CEO To Improve Operations and Meet Refund Obligations
Editor's note: After 18 days at the helm, Dale Nabors, new CEO of Cuppy's Coffee and affilliated companies, reports on next steps for the troubled chain. His post was originally written as a comment responding to posters who declared that more than new ownership was needed to lift the franchise chain from its current problems.
As much as I'd like to respond to each and every comment regarding Cuppy's I do not have the time, nor would it be wise to do so. However, this is one which I'd like to provide a short response.
I can agree with some of both guest's comments. I wholeheartedly agree that the company needs and must have more than just new ownership. It has been approximately 20 business days since I acquired Cuppy's, and just 18 if you exclude the day of acquisition and today which has hardly begun. In this relatively short period of time, numerous employees have been terminated and more than a million dollars per year has been cut from the company's operating expenses. In the coming weeks and months there will be more cuts, a few new hires, and many new systems, processes and procedures implemented.
Not withstanding any of the above, the company has a very good product, both from a consumer perspective and an investment perspective. The company has MANY employees who posses substantial knowledge, skills and abilities along with the interest and commitment to helping each and every franchisee to succeed, in their business.
I've stated our objectives very clearly, and quite simply. We will curtail sales, we will focus on opening sold but unopened stores and help every store increase their bottom line profitability. The cuts which have been made and that will be made, are being made in order to strengthen the company and to allow us to deal with mission critical issues like opening stores, improving systems, and providing refunds to those who are entitled to such.
The company did not get into it's current position overnight, and we will not resolve all issues overnight....however, I will tell you now, and my team will show you in the coming weeks and months that we are committed to resolving each and every issue which we are faced with, in a fair and equitable manner, and to building a brand that is both respected and trusted.
Believe & Succeed,Dale Nabors