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This story is available exclusively to Insider subscribers. Become an Insider and start reading now. P. Terry s first location opened in July 2005 in Austin, and now it has 20 locations across Texas. Cofounders Patrick and Kathy Terry and CEO Todd Coerver focus on high-quality, low-cost burgers. P. Terry s employees enjoy perks like access to loans, Christmas bonuses, and a $15 per hour wage.  Patrick and Kathy Terry, cofounders of Texas-based burger chain P. Terry s Burger Stand, aren t afraid of their competitors even in a bovine-saturated state like Texas.  In fact, when the couple opened their first P. Terry s location in July 2005 in Austin, they were across the street from long-standing corporate giants McDonald s, Jack In The Box, Wendy s, Taco Cabana, and Taco Bell.

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