The Franchisee

“In the food business today, it’s all about competition,” says George Zografos ’76, who just sold off the last of the 13 Dunkin’ Donuts franchises he spent 30 years collecting on Cape Cod. You can see the trend just by what’s happening with coffee, he says.

“Cumberland Farms is giving it away now. McDonald’s is selling it for a dollar,” he says. “It’s about competition. And to be able to compete, you have to be able to do less—less labor, lower prices, a lower learning curve.”

Dunkin’ Donuts, among other companies, is responding by streamlining its own operations, says Zografos, who started in the business 40 years ago in 1978, when he took a job as store manager at a Dunkin’ franchise in Connecticut.

“They’re going to be selling fewer kinds of donuts, not selling cookies anymore, cutting out some other things too. It’s the 80-20 thing—you focus on the 80 percent you sell the most of, let the other 20 percent go. That’s how you streamline. That’s what it takes now to compete.”

Still, it’s not the competition that’s driving Zografos out. He’s seen his share of that over the years and has prevailed at least as often as not. “Competition is a good thing,” he says. “It forces you to stay current; it keeps you relevant.”

But he’s 64 now. His three sons are doing well. He has family and friends he wants to spend time with; there are other things in life.

“I’ve had a good run. You never know how many more years you’ve got left, and you want to use it well. So it’s time.”—GD