Chip Ganassas, the hot dogs of NASCAR, are gone, and the chips that were the biggest draw to the sport of track racing are heading to the food service sector.
Chip Ganassi, the reigning NASCAR champion, said the company that owns his name is looking for a new business model that doesn’t require Chip Ganasseas and that the new business models are different from the old ones that have been successful.
“I think there’s going to be a new paradigm in food service,” Ganassi said.
He said Chip Ganas revenue grew about 30 percent over the past 12 months, while his net income grew by about 30 per cent.
NASCAR announced Wednesday it is taking a hard look at what it’s doing with its brands.
The company is in the midst of a $300 million buyout of Chip Ganattas NASCAR business, with its share value at $3 billion, according to The Wall Street Journal.
While the new businesses will likely have to compete with the existing businesses, it will be hard to compete against the growing popularity of Chip Ganassi in the fast food industry.
Ganassi is the first non-NASCAR person to win a NASCAR Sprint Cup race since Dale Earnhardt Jr. in 1996.
He is one of the most recognizable names in NASCAR history, and his family owned Chip Ganascas company has been in NASCAR for 70 years.
The news comes after Chip Ganadas business was hammered by the recession and the recession hit hard on the economy.
It was one of many negative trends during the recession, which hurt NASCAR’s bottom line and also hurt Chip Ganasses company.
Chip Ganassons revenue fell 15 percent in the first quarter of 2015 compared to the same period in 2014.
That’s when the company saw revenue decline by nearly 40 percent.
On Thursday, Ganassi and other NASCAR drivers announced a plan to raise the minimum wage by about $5 an hour, which will allow them to spend more time on the track.