Following his sporting career, Schoenbaum went on to found the
Shoney's restaurant chain, a regional organization which is one of the largest businesses to have originated in
West Virginia and was at one time one of the largest family owned restaurant chains in the United States. In 1947 Schoenbaum opened his first
drive-in restaurant, Parkette, in
Charleston. In 1952, Schoenbaum obtained the regional marketing rights to the
Big Boy trademark, two years later Parkette being renamed Shoney's. Besides being an operator, Schoenbaum also aggressively subfranchised to others, many as Shoney's and some in the 1950s using their own name. In 1971, Nashville–based Shoney's operator
Raymond L. Danner acquired Shoenbaum's company to form Shoney's Big Boy Enterprises, Inc., a
publicly held company. With Danner as president and CEO, Schoenbaum became chairman of the board of directors. When Shoney's original franchise agreement with Big Boy expired in 1976,
Big Boy Enterprises was dropped from the name. In 1982, Shoney's opened two non–Big Boy restaurants (called ''Shoney's Towne and Country'') in Tallahassee, Florida, Big Boy territory assigned to
Frisch's Restaurants, causing Frisch's to sue for unfair competition. In 1984, Shoney's–now the largest regional franchisee–left the Big Boy system removing over a third of the American units. Shoney's prevailed in the Frisch's lawsuit, the final appeal adjudicated after separation from Big Boy. With Schoenbaum as chairman, the Shoney's organization also developed and operated the
Captain D's fast food seafood chain,
Lee's Famous Recipe Chicken fast-food chain, now part of
Mrs. Winner's and three casual dining chains, The Sailmaker, Pargo's, and the
Fifth Quarter Steakhouses. In 1976, the company started a lodging chain, with properties branded as "Shoney's Inn" motels. By the 1990s, the company operated over 1,000 restaurants. == Legacy ==