Frank Steed’s success within the Metromedia Group led to a variety of escalating leadership roles with both the Bonanza and Ponderosa organizations. It was his vision to create a centralized franchise development organization for all the Metromedia brands. That created his next assignment, which was to create and lead the group franchising division he envisioned.
While renewing the franchise growth of the two previously franchised brands, Ponderosa and Bonanza, Bennigan’s began franchising both domestically and internationally under Frank’s direction. In less than three years, Bennigan’s was 50% franchised through seed market programs and new area growth. As he had done at Friday’s, Steed guided Bennigan’s to become an international brand as well.
With such a unique background, it was only natural Steed would be approached by Romacorp, Inc, (better known as Tony Roma’s Famous for Ribs) to become its President and CEO. Although Roma’s already had a base of domestic company and franchised locations, during Frank’s tenure, agreements were signed for over 60 new restaurants in foreign locations such as the Middle East, England, Brazil, Spain, Trinidad and Tobago, Venezuela, and Chile, as well as domestically in Detroit, Miami, Austin, and Sioux City. Today there are Tony Roma’s in 27 countries and in 30 U.S. states making Romacorp a leading worldwide franchisor.
In 2003, recognizing the need among chain operators in a wide variety of industries for an outsourced solution to strategize, and develop a franchising capability both domestically and internationally, Frank Steed founded The Steed Consultancy.
The Steed Consultancy is a member of the International Franchise Association as well as the National Restaurant Association. Steed has served on the Board of Governors at the University of North Texas School of Hospitality, Board of Directors of Women’s Food Service Forum, Board of Directors of Dallas White Rock Marathon, Women’s Venture Franchise Program Advisory Board, the Board of the Corsicana Convention and Visitor’s Bureau, Board of the Corsicana Area Foundation, is Past Chairman of the Corsicana-Navarro County Chamber of Commerce and currently serves as President of the Navarro County Emergency Services District. He has also served on the Boards of Redstone American Grill and Hurricane Grill and Wings. He recently served the Republican Party of Texas State Executive Committee as Senate District 22 Committeeman and is past Chairman of the Republican Party of Navarro County.