Capriotti's: From Near Bankruptcy to National Brand Success!

What happens when franchisees become owners of the very brand they believed in? In this episode of Franchise Today, Stan Friedman welcomes Ashley Morris, CEO of Capriotti's Sandwich Shop, whose journey began not in the corporate office, but behind the counter as a Capriotti's franchisee.After experiencing the brand's potential firsthand, Ashley and his partners made the bold decision to acquire the entire company—closing the transaction on January 1, 2008, just as the global financial crisis was beginning to unfold.Most would have pulled back. Ashley doubled down. Rather than cutting corners, Capriotti's invested in product quality, franchisee support, and disciplined growth. That commitment transformed a beloved regional sandwich shop into one of the most respected brands in the QSR/fast casual franchise space, as it celebrates its 50th anniversary.In this conversation, you'll discover:Why becoming a franchisee first gave Ashley a fundamentally different perspective on leadership.How buying the company just before the Great Recession, shaped every decision that followed.Why protecting quality became Capriotti's greatest competitive advantage.The importance of franchisee trust, culture, and long-term thinking.What Ashley sees ahead for restaurant franchising, AI, and sustainable growth.This isn't simply the story of a sandwich brand. It's the story of franchisees who believed in a business enough to buy it—and then spent the next two decades proving they were right.