Pinch A Penny Appoints New Chief Development Officer

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 company’s aggressive development efforts in key target markets, including Texas and Georgia, as well as drive new franchise recruitment.

“We know that an investment in our leadership is an investment in our future,” says John Thomas, president and chief executive officer of Pinch A Penny. “We know that Michael’s 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 Denny’s, Gloria Jean’s Coffee, Checkers & Rally’s and, most recently, as chief development officer of Captain D’s. His extensive understanding of the franchising industry has allowed him to achieve exceptional and sustained development and financial results for each company’s franchise system.

During his tenure with Captain D’s, Michael re-established the brand’s development organization and implemented growth strategies that resulted in the most successful period in the company’s 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.

“Pinch A Penny’s prosperity amid the changing retail landscape is clear evidence of the brand’s remarkable influence in the space, and I’m excited to be joining one of the most established names in the industry today,” Arrowsmith says. “The 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 brand’s unlimited potential as we implement new strategies to aggressively drive growth.”

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