Opinions expressed by Entrepreneur contributors are their own.
Ashley Morris's journey from finance professional to CEO i Capriotti Sandwich Shop it is a story of relentless perseverance and passion for quality.
Morris fell in love with her of Capriot in college when his roommate introduced him to the brand. The roommate said the shop was home to the “best sandwich I've ever had” and insisted he try it.
After some persuasion, Morris finally landed on the most important sandwich of his life. “I got a cheesesteak from Capriotti's and I thought, Man, this is literally the best cheese I've ever hadMorris remained a loyal customer for the rest of his college days.
Years later, Morris forged a career in finance and worked as a portfolio manager at Wells Fargo, and Capriotti's remained a constant favorite. “I found myself eating at this place all the time, loving it and being excited to go and get my lunch,” he says.
The obsession led him to open a Capriotti's franchise with a friend. Morris called it “their first foray into Capriotti's” as absent franchises. They bought three locations in three years, but they wanted more. That's when things changed.
Related: These roommates traded their lives for a sandwich — and built a franchise empire
If you can't join them, own them
A key moment came when Morris realized the potential of the brand went beyond exclusivity opportunity. Inspired by a poker broadcast that described 26-year-olds as “dinosaurs,” Morris decided it was now or never.
Capriotti rejected his request to own more than three stores, so he tried a different approach. “I called the owner back and said, 'Hey, if you're not going to sell me more stores, then I'm just going to buy the whole company,'” Morris tells him. Shawn Walchefhost of Restaurant influencers.
The deal closed in January 2008, just months before the financial crisis. Not ideal timing, but they didn't give up. “We were very under-capitalized, (had) absolutely no franchise experience (and) very little restaurant experience,” admits Morris.
Despite these challenges, he knew this was where he was meant to be.
As of August 2024, Capriotti's has nearly 160 stores in operation, with plans to open 12 to 15 more by the end of the year. “We have just under 200 in the development pipeline,” shares Morris. The company's vision is ambitious: 750 profitable locations by December 31, 2032.
It is not easy. Scaling comes with many challenges. Morris highlighted two key blind spots during their expansion: “Blind spot A (was) thinking, Hey, just go out and put some commercials on television, life is good. This is a scam. Blind spot B was so hard supply chain it's when you don't have a critical mass”.
The solutions came strategic partnerships and methodical growth. “We're able to build about 25 new stores a year now with the infrastructure we have,” says Morris.
The CEO aims for more than just growth of Capriot. He believes in balancing business with purpose. His journey through this business has taught him the importance of mentorship and adaptability. His emotion drives him as much now as it did at first. “I just cared about it more, I liked it more, I got excited about it,” he says.
Related: This chef went from dreaming of Michelin stars to building an audience like a YouTube star
Around Restaurant influencers
Restaurant influencers brought to you by Toast, the powerful restaurant POS and management system that helps restaurants improve operations, increase sales and create a better guest experience.
Toast – Empowering successful restaurants. Learn more about toast.