Pinch A Penny’s Franchise Owners Enjoy Strong Family Ties
A lot of companies say their teams are “like family,” but Pinch A Penny has always been a family business. Founded by Fred Thomas in 1975, Pinch A Penny began to grow when Thomas invited other families to invest in the business and open their own Pinch A Penny locations. Thomas’s son, John, grew up in the business working alongside his dad.
Today, John Thomas serves as chief executive officer of Pinch A Penny, and most Pinch A Penny locations are owned and operated by families who desire to build a legacy for their own children.
Pinch A Penny has come a long way since those first nine locations in Florida. Yet, Pinch A Penny remains family-owned and still is run very much like a family business.
The Thomas family has always underscored the value of personal relationships with franchisees, and so executive team members visit every location at least once per year to maintain those relationships.
Now numbering more than 260 locations spanning 5 states, we grow through franchise families, including some second- and third-generation owners. As our families grow, so does our franchise.
Along the way, Pinch A Penny built a fun and family-friendly business model that appeals to people who want both to own their own business but also to find a balance between work and family.
Running a Pinch A Penny requires no out-of-town travel, and stores operate during normal retail business hours, so many franchise owners enjoy a flexible schedule that allows them to put their family’s needs first.
Additionally, Pinch A Penny locations create jobs for all ages, including many franchise owners’ high school- and college-age children whose first jobs were working with their parents.
Franchisees cite the brand’s family atmosphere as one of the qualities they love about Pinch A Penny. That may help explain the company’s perennially high ratings for franchisee satisfaction in Franchise Business Review’s Top 200 Franchises ranking.
Pinch A Penny has been in the Top 10% of Franchise Business Review’s rankings since the survey began.
Pinch A Penny allows franchise owners to provide a better life for their families while also planning for the future. Most of Pinch A Penny’s higher-performing locations are owned and operated by families.
Franchise locations open for at least one year reported average annual gross sales of more than $1.5 million last year. As owners retire, many of them pass the business along to their own children so the business they have built becomes their legacy and stays “in the family.”
Fred Griffiths, whose family owns two Pinch A Penny locations in Palm Coast, Florida, says: “All three of our adult children have really bought into the business and invested in the company. It’s a family business in every sense of the word. It’s our lives. We are very proud and blessed to be part of the Pinch A Penny family.”
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