DQ Grill and Chill Franchise
Greg Todd got his start as an employee at McDonalds serving burgers. “It felt right; I always knew one day I would own a fast food restaurant!” said Todd. Years later, Greg’s career in the travel agent business was declining and he decided to start looking for opportunities to change careers.
In 2006, while attending a family reunion, he saw a DQ Grill and Chill thought “why not?” Greg decided to look further into the DQ Corporation for opportunities to bring the burgers and dairy treats to Alaska.
Greg worked with DQ corporate headquarters to put a business plan together and then started making the rounds to local lenders in Anchorage to find financing to open his first restaurant. Finding nothing, he discovered that DQ nationally works with the United Parcel Service (UPS) financing division, to finance some of their stores.
UPS brought the SBA’s 504 loan program to Greg’s attention, and Greg was able to obtain the financing he needed. His new store broke DQ’s all-time day, week and month sales records since DQ’s inception in 1940.
Following this huge success another opportunity to open a second store surfaced just four months later. Greg once again used the SBA’s 504 loan program to back the new store. “The lower interest rate and longer terms helped put us in a better cash position and gave strength to both stores by allowing us to have better working capital,” said Greg Todd. Shortly thereafter yet another store was opened, again using a 504 loan, in the Diamond Center mall. This time the stimulus incentives helped reduce fees on the federal backed loan saving Greg approximately $25,000 in the first year helping the sustainability of the new location by providing a more positive cash flow.
Greg now employs over 100 individuals spread over four DQ Grill and Chill’s throughout the greater Anchorage area.