, /PRNewswire/ - P. Terry's Burger Stand, the Austin-based restaurant chain established in 2005 and recognized for its employee-focused approach and dedication to the community, today revealed its move to employee ownership via an Employee Ownership Trust, supporting its 1,800 team members at 38 sites.

Through the shift to an Employee Ownership Trust (EOT), the firm creates a framework enabling staff to participate in the enduring worth of the enterprise. The EOT will manage ownership stakes for workers while safeguarding the business's autonomy, purpose, and values for coming eras. This method also supports P. Terry's ongoing focus on the principles established at its start, such as providing top-grade meals at costs accessible to households.

Alongside the change, the firm has launched a firm-wide profit-sharing initiative for staff with over two years of service. Starting right away, 5% of operating income will go to qualifying employees, with intentions to raise the share steadily to 20% in the future.

The choice to adopt an EOT came from co-founders Kathy and Patrick Terry, who grew P. Terry's from one small 527-square-foot stand in Austin into a cherished Texas dining brand now running 38 outlets statewide.

With this shift, Patrick and Kathy Terry will keep guiding the company and stay engaged in its path ahead. The adoption of an Employee Ownership Trust aims to bolster P. Terry's lasting steadiness while upholding its values, direction, and goals for the long term.

To advance this plan, P. Terry's worked with Common Trust, an organization expert in guiding firms toward employee ownership that maintains their heritage and aims.

"At the outset, we held that supporting people and creating a strong enterprise were aligned goals," said Kathy Terry, co-founder of P. Terry's Burger Stand. "This change represents the clearest demonstration of that view we have offered. P. Terry's has always been shaped by those who arrive daily. Now, that reality is formalized."

"We are creating something enduring," said Patrick Terry, co-founder and CEO of P. Terry's Burger Stand. "We aimed for our staff to gain from ownership in a tangible and sustained manner, which is the reason we are introducing profit sharing with this move."

P. Terry's has earned notice for its work environment, competitive pay, and focus on local support. Since launch, the company has given millions to charitable groups across Central Texas, San Antonio, and Houston.

About P. Terry's Burger Stand:

Top-grade meals at reasonable costs. These form the foundation on which Patrick and Kathy Terry have developed their family-run operation. After drawing early ideas from a neighborhood eatery in his Abilene, Texas, roots, Patrick aimed to revive the appeal of burger stands from the 1950s and 1960s with their classic style. While Patrick shaped the restaurant vision, his wife Kathy drew from the book Fast Food Nation to offer improved fare from responsible sources. This led to the birth of P. Terry's Burger Stand on July 5th, 2005, in Austin, TX. Backed by local support, P. Terry's has expanded quickly through Central Texas while holding to its main aims of quality meals at fair prices.

Its natural burgers are prepared fresh to order without added hormones or antibiotics. It uses only Idaho Burbank potatoes cut by hand daily for freshness. Its lemonade comes freshly pressed, milkshakes are blended by hand, and baked items are prepared daily from basic ingredients.

Beyond fresh offerings and community giving, P. Terry's stresses staff support via growth paths within the business, pay above typical levels, interest-free loans during difficulties, and dedicated bakers to create each worker's chosen birthday cake. To find out more about P. Terry's Burger Stand, check the company site or follow on Facebook, Instagram, X and LinkedIn.

About Common Trust

Common Trust assists owners focused on continuity in moving to employee ownership, safeguarding the firm's heritage, culture and principles during the process, while allowing staff to gain from the company's achievements across generations.

SOURCE Common Trust