History Of Dominos
Ypsilanti, Michigan's 507 Cross Street, close to Eastern Michigan University, was an existing site of a small pizza restaurant franchise that had been owned by Dominick DeVarti. In 1960, Tom and Jim Monaghan assumed ownership of the business. The brothers borrowed $900 to finance the business, with a $500 down payment serving as collateral for the agreement. Jim was hesitant to leave his full-time job as a postman in order to support the new firm, even though the brothers intended to divide up the work hours fairly. Jim gave Tom 50% of the company in exchange for the VW Beetle they used to transport pizza within eight months.With the acquisition of two more pizzerias in 1965, Tom Monaghan had three establishments inside the same county. The previous owner banned Monaghan from using the DomiNick's name, even though he intended the businesses to have the same logo. Workers like Jim Kennedy came up with the moniker "Domino's" after returning after a pizza delivery one day. In1965, the logo included three dots to symbolize the three locations of the corporation.