Domino’s blazes expansion trail
Publicly listed pizza chain, Domino’s, has announced plans to boost the number of franchise outlets in the “under- penetrated” cities of Sydney and Melbourne.
Domino’s CEO Don Meij advised that the Melbourne metro area made sense from a market size point of view.
“We’re just really under-penetrated in Melbourne and Sydney overall, the two biggest capital cities,” he said. “Our home, Brisbane – we’ve got every bit of it covered – and we’ve been in Perth for a long time.”
“In particular, Melbourne is our least penetrated area in Australia; we’re about 25 stores short in Melbourne, that’s our most focused city.”
The ASX-listed firm has optimistic plans to gain a 60 per cent share of the national pizza market within five years despite strong competition.
Domino’s performed admirably during the 2009 financial year, reporting a significant increase in profit as the convenience and affordability of fast-food kept sales strong many chains.
Franchisee applications have doubled over the past year, the company added.