Frank Steed began his industry career as the doorman at the second T.G.I. Friday’s unit and proceeded to rise to Executive VP. Today, he is a leading expert at developing and rolling out domestic and international franchise programs.
Steed is currently helping a Dallas-based RTS client organize its franchise business, the fastest-growing in the Southwest. Before joining RTS, Steed was CEO of Romacorp., franchisor of Tony Roma’s. Although the chain already had a base of domestic company and franchised units, Steed signed agreements for more than 60 new international restaurants in South America, Europe, and the Middle East. As President of the Bonanza and Ponderosa Restaurants for Metromedia Group, Steed created a centralized franchise system including Bennigan’s, which was not then franchised. Within three years, Bennigan’s was 50 percent franchised through seed market programs and new area growth. Steed has also been CEO of 300-unit Country Kitchen, where he repositioned the coffee shop chain to family casual-dining by overhauling building, décor, uniforms, and menu.