Indianapolis Business Journal:
The once-formidable Ritter’s Frozen Custard chain could be on the cusp of a turnaround under new ownership that is embarking on a plan to have 100 locations within five years.
New York-based TruFoods, which bought the company in May 2008 for an undisclosed price, has spent the past two years revamping the business model and now is seeking new franchisees.
TruFoods should have commitments signed for about 10 new franchises in 2010, with a goal of opening four of those by the end of the year, said Gary Occhiogrosso, the company’s chief development officer.
“We basically took a step back,†Occhiogrosso said. “We took a look at what worked and a good focused look at things that weren’t working as well.â€
