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EXHIBIT 11--STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
VOLUNTEER CAPITAL CORPORATION AND SUBSIDIARIES


<TABLE>
<CAPTION>
                                                                                         Years Ended
                                                                      ----------------------------------------------
                                                                      DECEMBER 31         January 1        January 2
                                                                          1995              1995             1994
                                                                      ------------   ----------------    -----------
<S>                                                                    <C>               <C>               <C> 
Earnings per common and dilutive common equivalent share            
                                                                    
  Net income.................................................          $5,016,000        $4,830,000        $4,301,000
                                                                       ==========        ==========        ========== 
   Adjustment of shares outstanding:                               
     Weighted average shares outstanding.....................           5,257,000         5,187,000         4,388,000
     Net additional shares issuable, based on the treasury           
         stock method........................................             221,000           194,000           218,000
                                                                       ----------        ----------        ---------- 
     Adjusted shares outstanding.............................           5,478,000         5,381,000         4,606,000
                                                                       ==========        ==========        ========== 
  Per share amount............................................         $      .92        $      .90        $      .93
                                                                       ==========        ==========        ==========
Earnings per common share, assuming full dilution                   
                                                                    
  Net income...............................................            $5,016,000        $4,830,000        $4,301,000
                                                                       ==========        ==========        ========== 
   Adjustment of shares outstanding:                               
     Weighted average shares outstanding....................            5,257,000         5,187,000         4,388,000
     Net additional shares issuable, based on the treasury         
       stock method.........................................              222,000           194,000           238,000
                                                                       ----------        ----------        ---------- 
     Adjusted shares outstanding............................            5,479,000         5,381,000         4,626,000
                                                                       ==========        ==========        ========== 
  Per share amount...........................................          $      .92        $      .90        $      .93
                                                                       ==========        ==========        ========== 
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(1) The computations of earnings per common and dilutive common equivalent share
    and earnings per common share, assuming full dilution, are base on the 
    weighted average number of common shares outstanding each period after 
    considering the effect of stock options using the treasury stock method.  
    Shares issuable upon the conversion of convertible subordinated debentures 
    have not been included as the effect of their inclusion would be 
    antidilutive.





