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Frankfort, KY - October 13, 2009 - G. Lynn Rice, President, Super Quik, Inc. based in Flatwoods, KY has been honored as 2009 convenience store of the Year during the Kentucky Grocers Association/Kentucky Association of convenience stores (KGA/KACS) 68th Celebration & annual meeting.
Lynn Rice accepted the Kentucky Grocers Association & Kentucky Association of Convenience Stores (KGA/KACS) Convenience Store of the Year Award on behalf of all Super Quik employees.
During his acceptance speech he told the 230 attendees of the 2009 KGA/KACS Celebration that, “People will make you or break you. I personally feel that this industry’s future is bright and that our employees are willing and able to take on any challenge that we may face.”
Lynn’s remarks focused on how smaller convenience store operators have to be “on their game plan” everyday to avoid the many pitfalls in front of them. He also believes that big operators can’t get it all and smaller independent operators can do well if they are quick on their feet and flexible in their thinking and planning.
Lynn Rice began his working career on the CSX railroad before even graduating from high school. He worked part time and then full time until going to work for then Ashland Petroleum Company in the early 1970`s. As Ashland was developing its Save Mart Convenient Store Division, Lynn transferred there and worked as a Supervisor until 1979.
A long time friend of the family, Jerald Witten, had recently sold his 100 store chain in Texas and was starting the Super Quik convenience stores in the Ashland area. Lynn left Ashland Petroleum and began a new career running the Super Quik stores. At that time there were three Super Quik stores and two Laundromats.
Since that time, the company has grown to 15 high volume convenience stores and seven branded food service operations. In June of 2005 Mr. Witten sold the company to the employees creating a 100% Employee Stock Ownership Plan (ESOP) organization. Every full time employee that works 500 hours per year qualifies for a stock allocation that year.
As President of Super Quik Inc., Lynn has delivered remarkable changes for the employees. The level of execution and employee responsiveness has improved dramatically. The company is now able to implement and run programs that were not possible before and are now taking the company to higher levels of performance. Lynn Rice stated, “An ESOP cannot make a bad company good; rather they can make a good company better.”
As the company has continued to pay down debt incurred for the ESOP, it will be looking to acquire profitable retail or food service operations. There are some unique advantages an ESOP company can offer to a seller that other non-ESOP businesses cannot. With the right people in the right place, Super Quik will experience substantial growth in the years to come. The ESOP structure is functioning very well for Super Quik and the company has made a profit every year since its beginning 30 years ago. The company annually raises money to fund scholarship programs for local youth to advance their education.
Lynn graduated from the University of Kentucky and is married to his high school sweetheart, Sandy. They live in Russell, Kentucky. Together they have one daughter Leann, who is married and has three daughters and lives in Danville, Kentucky. Lynn believes that everyone should perform service to their community in one way or another and has served on the Ramey-Estep Children’s Home Board of Directors. He is presently serving on the Board of Directors at Kings Daughters Medical Center in Ashland and he also serves on various committees at his church.
Kentucky Grocers Association (KGA)/Kentucky Association of Convenience Stores (KACS)
512 Capitol Avenue, Frankfort, KY 40601, Phone: 502-696-9153, Fax: 502-875-1595 Email: email@example.com
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