Pinch A Penny announced Michael Arrowsmith has joined the company as chief development officer. An industry veteran, Arrowsmith has spent his professional career growing franchise brands and will leverage more than 25 years of experience to spearhead the companyās aggressive development efforts in key target markets, including Texas and Georgia, as well as drive new franchise recruitment.
āWe know that an investment in our leadership is an investment in our future,ā says John Thomas, president and chief executive officer of Pinch A Penny. āWe know that Michaelās expertise will be a tremendous asset in helping us achieve our growth goals and taking the brand to new heights."
Throughout his distinguished career, Arrowsmith has held senior level executive positions at several leading franchise brands including Dennyās, Gloria Jeanās Coffee, Checkers & Rallyās and, most recently, as chief development officer of Captain Dās. His extensive understanding of the franchising industry has allowed him to achieve exceptional and sustained development and financial results for each companyās franchise system.
During his tenure with Captain Dās, Michael re-established the brandās development organization and implemented growth strategies that resulted in the most successful period in the companyās history, building a pipeline of more than 100 locations with consistent double-digit openings as well as achieving a 225 percent increase in new store openings and six consecutive years of positive growth.
āPinch A Pennyās prosperity amid the changing retail landscape is clear evidence of the brandās remarkable influence in the space, and Iām excited to be joining one of the most established names in the industry today,ā Arrowsmith says. āThe consistent success Pinch A Penny has achieved over the past several years coupled with my franchising experience will make an unstoppable force, and I look forward to tapping into the brandās unlimited potential as we implement new strategies to aggressively drive growth.ā
