Early Life
Tony Townley was born on June 13, 1960, in Statesboro, Georgia. He met Zach McLeroy in middle school, and they became lifelong friends. Townley graduated from Georgia Southern University. Before founding Zaxby's, Townley served as the CEO and president of Southern Mortgage & Lending Corporation in Athens, Georgia.
Rise to Success
In 1990, Townley and McLeroy co-founded Zaxby's, with each investing $8,000. They opened their first restaurant near the campus of Georgia Southern University. The chain focused on chicken fingers, wings, and unique sauces, which quickly gained popularity. Townley played a key role in the fiscal management and strategic direction of Zaxby's, contributing to its rapid expansion. In 2020, Townley sold his stake in Zaxby's to Goldman Sachs for nearly $1 billion. As part of the deal, he became one of the chain's largest franchisees, with over 140 locations.
Key Business Strategies
Key to Zaxby's success was its focus on college campuses, initially targeting locations near universities like Valdosta State and the University of Alabama. The chain expanded through franchising starting in 1994, which helped accelerate its growth. Townley's background in financial strategy was crucial to the company’s expansion, ensuring efficient operations and strategic financial planning.
Philanthropy
While specific amounts are unavailable, Townley and his wife, Elizabeth, have dedicated a portion of their earnings to conservation efforts, investing in over 35,000 acres of timberland and farmland around Georgia. In addition to conservation efforts, Zaxby's is also a supporter of Make-A-Wish.