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Ruby Tuesday Inc., which is known as RT on the New York Stock Exchange, is an American multinational food service retailer that owns, operates, and franchises Ruby Tuesday restaurants. This corporation was incorporated in 1996 by Samuel E. Beall, III, as a reincorporation of the Morrison Restaurants Inc. They are based in 150, West Church Avenue, Maryville, Tennessee,37801, United States. They operate around 736 locations worldwide.Ruby Tuesday: The renowned American Foodservice retailer with a Global Repute
Ruby Tuesday’s flagship brand is an American cuisine, casual dining chain of restaurants that is primarily located along the eastern coast of the United States. They also own a Lime Fresh Mexican Grill, which has 26 locations in six U.S. states and Washington D.C. Out of the 26 locations, nineteen are company-owned and seven are franchised. The company has currently closed all locations of Wok Hay and Marlin and Ray’s. Nevertheless, they still hold development rights to Truffles Grill. The name of the restaurant was taken directly from The Rolling Stones song, “Ruby Tuesday”, as suggested by Bob Hope to founder Sandy Beall. The founder and long-time CEO Sandy Beall announced his retirement on June 6, 2012.
Current Market Value
After the retirement of its founder as CEO, F. Lane Cardwell Jr. took over the office of the CEO. Currently, Todd Burrowes is working as the COO and Michael Moore is the CFO. This American food chain specializes in burgers, chicken, pasta, ribs, salad bar, seafood, soups and steak. The company reported a US$ 1.12 billion in the year 2015. In the same fiscal year, it had an operating income of US$ 17.63 million. Though its revenue had soared up compared to the previous year, the net income went down to -3.194 million by 2015. Its assets summed to US$929.391 million in 2015. RT’s total equity was 465.583 in the same year(2015). The company has employed around 32,100 employees to work at various locations. RT has grown its cash at hand to $61.2 million in a quarter of 2015 while its cash growth was $44.5 million in the same period of 2014.
In the year 1972, Samuel E. (Sandy) Beall along with his four college buddies opened the first Ruby Tuesday restaurant in Knoxville, Tennessee. By the year 1982, it were operating 15 units and in the same year, Morrison Inc. acquired the company for US$ 15 million. The number of Ruby Tuesday locations reached 125, by 1898. The company launched an Italian casual restaurant chain called Mozzarella’s Cafe (later American Cafe) in 1993. Tia’s Tex-Mex chain was acquired in 1995 and also the first international Ruby Tuesday opens in Hong Kong. In 1996, Morrison split into three separate public companies, one of which is Ruby Tuesday, Inc., based in Mobile, Alabama. In the year 1997, it began the concept of franchising the Ruby Tuesday. The company relocated their headquarters to Maryville, Tennessee in 1998. By April 2000, the company sold off Tia’s Tex-Mex and American Cafe chains.
Even though the momentum in terms of growth and sales has either stalled or declined slightly, things are not all bleak for RT. The company is clearing its long term debt at a good pace. The numbers associated with the company have lately shown that it is getting its house in order. There are also commendable efforts to kick-start its sales. As a part of this, the management is pushing for new restaurant branding by addressing four key strategic pillars, namely Food, Service, Atmosphere, and Communication. These rebranding efforts from the company have enthralled keen interest of the potential customers, hence resulting in increased profits. Owing to these prolific reasons you can consider to invest with RT.
Investing into Ruby Tuesday
Ruby Tuesday is offering franchising options for those who wish to work with them. The Restaurant is providing licenses with full serviced restaurants, a bar and grill section. The food menu offered under the license would be seafood, steaks, pastas, burgers, soups, sandwiches, salads etc.; The Restaurant does not make any offers for financial help directly or indirectly for franchising. Every individual connected to opening a Ruby Tuesday franchise must be fully trained according to Ruby Tuesday Systems and Standards. There is an assigned territory for franchising the Restaurant and one franchise per location alone is allowed in order to cut down any chances of competition within the Ruby Tuesday outlets within the same region.
The term of agreement is 15 years and can be renewed for another five added years if the operations have been satisfactory. The minimum investment required to open a Ruby Tuesday franchise is $1,559, 650 and a maximum of $3,877, 400. They have a Royalty fee of 4% of Gross sales every year and several other fees for the fulfillment of any responsibilities on part of the Restaurant in carrying out the franchise.
All of the information above is to help you explore and discover a future with Ruby Tuesday, the epitome of Excellency!
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