Domino's Pizza, headquartered in Ann Arbor, Michigan, built its business on delivery and carryout rather than dine-in restaurants. It operates as a franchisor, food manufacturer and technology platform at once: it designs the menu and digital ordering, makes and ships dough, and collects royalties from franchisees who run the stores. That combination made it the largest pizza company in the world by global retail sales.
Domino's runs a heavily franchised, asset-light model. Independent franchisees own almost all stores, and the corporate company earns money in three main ways: (1) supply-chain sales, where regional dough-manufacturing and distribution centers sell dough, cheese, other food, equipment and supplies to U.S. and Canadian stores, which is the largest revenue line but lower-margin; (2) royalties and fees from U.S. and international franchisees, calculated as a percentage of store retail sales, which drive most of the profit; and (3) U.S. franchise advertising contributions and revenue from a small base of company-owned stores. Franchisees also pay technology fees for the ordering platform. International markets are mostly run by master franchisees, such as Domino's Pizza Enterprises and Jubilant FoodWorks, which pay royalties to Domino's.