Welcome to the Arena from ICR – Conversations with Today's Innovators & Business Leaders Chris Schultz, CEO, VooDoo Doughnut – The Sweet Spot: Balancing expansion and identity for sustainable business growth
On the surface, successful growth in business might seem to be about rapid expansion. But that's not the right strategy for every business. Growth has to align with the business's principles, be at the right pace, and it can't endanger the brand's image and identity along the way. Today's guest has reset his growth strategy to reinforce and preserve brand identity.
We're sitting down with Chris Schultz, CEO of Voodoo Doughnut. Chris has a remarkable track record in expanding renowned brands, both nationally and globally with over four decades of industry experience. In the 1990s, he played a vital role in Starbucks' US and international growth, including entry into the UK market.
Chris was a founding team member at ModPizza, growing it from one store to over 300 locations worldwide. His strategic acumen and leadership made ModPizza a fast, casual industry leader. Since 2017, as CEO at Voodoo Doughnut, he's tripled the company's size and expanded from 5 to 22 locations in 7 states.
Chris has twice been recognized as one of the most innovative and influential CEOs by National Restaurant News, and recently as one of the top 25 food and beverage executives of 2023 by C-Suite Magazine. Throughout his career, Chris has consistently demonstrated his ability to build and nurture successful restaurant brands. His innovation, passion, and commitment to exceptional customer experiences make him a respected industry leader.
Highlights:
- Chris' journey in the restaurant business, and his path to Voodoo (3:10)
- Voodoo's history and unique identity (4:29)
- Chris describes what differentiates Voodoo in their market (6:35)
- Chris talks about Voodoo's unique consumer base and following (8:01)
- Voodoo's growth strategy, and the importance of maintaining brand identity amidst expansion (10:03)
- Chris' approach to expansion, and new locations for Voodoo (10:56)
- Chris' approach to innovation with the Voodoo brand (12:29)
- How Voodoo finds its employees and keeps them motivated and engaged in the unique culture (15:54)
- How Voodoo maintains consistency amongst its varied brand presence (18:31)
- Chris' approach to tech innovation at Voodoo (20:26)
- Chris discusses Vodoo's 'Giving Doughnuts' program (23:37)
- Chris reflects on his biggest successes as CEO at Voodoo (24:53)
- The advice Chris would have given himself during his early days in the restaurant business (27:29)
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If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, marion@lowerstreet.co.