Papa John’s succeeded because of freedom and opportunity, not destructive Bidenomics
South Carolina business forced to close over inflation, labor shortages
Restaurant owner Cherie Castellucci joined ‘Fox & Friends First’ to discuss what forced her to close Philly’s in Summerville after 32 years in business.
The story of Papa John’s is the story of the American Dream. With hard work, drive, and ambition, my team and I were able to turn a pizza-making whim based in a broom closet in my dad’s tavern into a global pizza delivery business. But I had something else, too, when I started out — favorable economic conditions.
While I often get credit for Papa John’s success, the journey was much bigger than me. Sure, people with the true entrepreneurial spirit are often successful, but that doesn’t necessarily mean they will end up taking a small operation and building it into a 5,000-store brand.
I was fortunate enough to start out when Reaganomics was fueling countless American dreams. Entrepreneurs trying to build their businesses today are not so fortunate, and if I had to start Papa John’s in 2022 the way I did back in 1984, I’d likely be bankrupt within a year. I know what it's like to survive as a small business – the stress, the uncertainty, the endless hours, failure one day and success another – and I could never have built a global pizza delivery business under the current conditions of Bidenomics.
Inflation remains near a four-decade high, coming in at 8.2% in September and dashing hopes that price increases had begun easing. This year, we’ve seen several 40-year highs, including a 9.1% inflation rate in June. Prior to that, we saw a brief but negligible dip in the inflation rate, creating a sense of false hope that was quickly dashed.