A Wise Man

Jim was a man with impeccable integrity, fair minded, and of high moral character. He was a competitive  golfer and focused on the challenges of each shot and the game at hand. I had a low single-digit handicap, but I never beat Jim.

Jim took these positive traits to the business world and became a winner and leader in that arena. I opened my first Burger King in Texas in 1963; and several more a short time later. We were not making money and I was faced with the situation of not being able to pay my bills. The purveyors agreed to carry me for a length of time, but I was confronted with the hard decision of what to pay: banks, rent, utilities, payroll or royalties. I was embarrassed when I called Jim and Dave and explained my financial plight. I requested to delay paying royalties and advertising until I became profitable. They were agreeable and gave me words of advice and hope. Jim and Dave had created a unique restaurant concept that was durable, had legs, and would be viable for over 60 years. Each of us franchisees would benefit and build our restaurants using this triad: inside seating, the broiler, and of course the famous “Whopper.”

In the early 1970s, there were several companies interested in buying our Texas restaurants and development agreement.One day I received a call from Jim and Dave. They said they knew I had other interested buyers for my Texas restaurants, but they wished I would sell to Pillsbury. I was conflicted, because others were ahead of them in their due diligence to buy our company. We agreed to share numbers and quickly work through the process.

In the early 1970’s, I was young and inexperienced in selling companies with the size and development potential of our stores. My choices were to continue building Burger Kings in Texas and Connecticut; or sell one or both companies.. I decided to sell the Texas Burger Kings. In those days, a seven figure number multiplied many times over was a lot of money to a newly married father with a son to educate and send to college. 

Pillsbury was not the highest bidder for our restaurants - not close. But I remembered hanging up the phone and being embarrassed for not being able to pay my royalties. I remembered the support and encouragement I received from Jim and Dave and went with them because they had invested in our relationship.

Pete McGuire, Burger King Franchisee