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HoneyBaked Ham Co. and Café CEO Adds Franchisee to Resume Buys Two Corporate Stores to be Willed to his Children

By: The Honey Baked Ham Company |  46 Shares     808 Reads

'Will' to Franchise

November 14, 2007 // Franchising.com // ATLANTA – HoneyBaked Ham Co. and Café's Chuck Bengochea already wears the brand on his sleeve as the CEO of the company. Now, though, his actions will speak just as loud as his words as he has invested into the brand with the purchase of two currently operating company locations.

"This is a huge statement and validation for the greatness of our brand," said Ken Caldwell, Vice-President of Retail and Franchise Operations for HoneyBaked, the nation's leading legendary specialty food retail franchise. "To have your CEO as a franchisee showcases not only the power of our brand but its popularity among people who are already successful in business."

Bengochea's reason to invest in these the two HoneyBaked stores located in Gainesville, GA, and Athens, GA, stems from his personal philosophy regarding unnecessary monetary assistance for his children, much similar to that of the great Warren Buffet. Along those lines, he is in willing the locations to his four children to manage and run.

Bengochea said he feels he and his family have been blessed financially and spiritually, so instead of planning to will his wealth directly to his children, he plans to donate and invest in other causes and philanthropic organizations that benefit the less fortunate. He believes in giving his children every opportunity in the world, but would rather give them the necessary foundation and challenges they can build upon to become successful long-term, thus building strong values in business and in life.

Bengochea will oversee the operation for the next few years, but his oldest son Matt will run the daily operations. Once Bengochea's younger son Michael, a US Marine who has served in Iraq, retires from military service, both brothers will become partners and will eventually take control of this new family business venture.

Matt, who has been involved with HoneyBaked for eight years, started at age 16 working as an hourly associate. Soon after graduating college with a degree in marketing, he became a national sales representative for HoneyBaked corporate, a role that eventually propelled him to district manager in Atlanta, responsible for overseeing nine locations.

"My father always told us that money is not what he desired for us," Matt said. "He always stressed the importance of taking on challenges to build character, creativity, and strong work ethic. Our father has given us an opportunity to bring our family together, take risks, and be one step ahead of the game. It's not every job where you can work with the people that you love and care about. If we all promise to work hard, then there is no limit to the impact we can make for the brand."

The business deal includes an equal distribution of investment for all four of Bengochea's children, while compensation for each child is based on performance.

"The greatest part is that I'm giving my children the chance to run a successful family business that not only can be passed down from generation to generation, but can open doors for new business opportunities and other interests my children might have," Bengochea said. "My relationship with my children is so strong that after I am gone I know the family will maintain a close-knit connection. HoneyBaked and its proven operational structure will keep my family together."

ABOUT
Founded with its first store in 1957 in Detroit, Mich., HoneyBaked Ham has grown to become the most recognizable and trusted brand in America in the specialty food retail category. Today, nearly 400 HoneyBaked stores operate nationwide, with plans to open HoneyBaked Ham and Café locations in more than 100 new markets through franchise expansion in selective towns around the country. In addition to sales of its famous spiral-sliced, tender HoneyBaked Hams and other quality special meats for holidays and everyday occasions, HoneyBaked franchise stores also offer a Café menu, business catering, and corporate gifting. For more information, visit www.honeybakedfranchising.com.

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