From Bankruptcy to Success: Allegra Network Wins with Vision and Leadership
Press release from the issuing company
March 19, 2002 -- (WhatTheyThink.com) -- In 1991, William "Bill" D. McIntyre, president and CEO of Allegra Network LLC, was asked to take over the company’s top spot. As many remember, the company was facing serious financial issues losing $20 million that year and on their way into bankruptcy.
McIntyre was already a master franchisor in the former American Speedy system, and knew his first job was to restructure the company’s debt and seek possible investors. McIntyre re-engineered the company’s focus away from increasing the number of franchise locations to increasing value at existing franchise locations. He and his team successfully brought the company out of bankruptcy.
Today, the franchise system has experienced dramatic growth. Their strategy has been to acquire competing franchise companies in the quick print industry. The successful acquisition of three companies in the last seven years have driven system sales from approximately $185 million in 2001 to a projected $300+ million in 2002.
In October of 2000, the corporate name was changed from American Speedy Printing Centers Inc. to Allegra Network LLC. Less than a month later, the company was purchased by an investment group led by McIntyre, other members of Allegra Network management and Domino’s Pizza founder and former CEO Thomas Monaghan.
Is their goal simply to be the biggest? “Our goal is to be the best, not necessarily the biggest, print and graphic communications provider in North America,” says McIntyre in an interview with WhatTheyThink.com.
Known in recent years for their consecutive increases in revenue year over year, McIntyre says the franchise participated in the 2001 downturn as all businesses did. “Last year posed difficult economic times for all, creating obstacles prohibiting us from obtaining a record system-wide sales increase.”
Still, per center sales increased from $549,000 in 2000 to an average $567,000 in 2001.
As for the economy in 2002, McIntyre is optimistic. “I believe the economy is beginning to improve and will help our industry as a whole. We recommend that our franchise members continue a strong marketing effort at all times. They should also be positioned to take advantage of our Franchise Acquisition program. There are plenty of opportunities to grow for those who consistently follow a well-designed plan.”
Considering the dire conditions facing this company in the early 90’s, McIntyre has already set an example for a “well-designed plan”. In a comprehensive interview posted today at www.whattheythink.com, McIntyre discusses:
- Allegra’s acquisition program and strategy for 2002
- Update on the integration of their most recent acquisition, Insty-Prints
- State of the franchise concept and their “pitch” to qualified prospects
- The Internet and Allegra’s view of web based solutions
- Equipment: what an Allegra looks like today vs. 5 years ago
- Implementing computer-to-plate technology
WhatTheyThink is the global printing industry's leading independent media organization with both print and digital offerings, including WhatTheyThink.com, PrintingNews.com and WhatTheyThink magazine versioned with a Printing News and Wide-Format & Signage edition. Our mission is to provide cogent news and analysis about trends, technologies, operations, and events in all the markets that comprise today’s printing and sign industries including commercial, in-plant, mailing, finishing, sign, display, textile, industrial, finishing, labels, packaging, marketing technology, software and workflow.