Six Questions To Ask Before You Buy a Pizza Franchise
Thinking about buying a pizza franchise that is for sale? Make sure you ask these questions before you invest.
Why Should I Buy a Franchise?
If you are passionate about getting into the pizza business, one of the first questions you will likely consider is whether you should open your own restaurant or join a franchise. There are benefits to each, but the upsides of franchising are immediate, consistent, and long-lasting. Franchises have built-in reputations, experience, and marketing know-how that independent pizzerias must develop on the fly. Because of this, franchises generally have higher success rates.
Since you are partnering with a brand, it is important that you do your research and identify the franchise that best aligns with your values and goals, providing you with a model that you are proud to represent. Just as with an independent venture, you will own your own business and act as such, but you will benefit from a proven system, successful track record, and level of support that is not guaranteed when you go it alone.
How Much Is My Initial Investment and What Does It Cover?
A common misconception about franchising is that you are simply paying to use a brand’s name. But the best pizza franchises offer so much more than the backing of an established name. Initial pizza franchise costs will include the franchise fee, marketing fees, training, real estate consultations, and more. Your Pie’s investment costs are laid out plainly for prospective franchisees to consider, with itemized descriptions of how and where your money will be spent to help build your restaurant.
How Much Money Can I Expect To Make?
It’s reasonable to assume that a franchise investment should provide a return for both the money and the work invested in the business, so calculations are much more complicated than they would be with a passive investment. And the expected return is likely to be much higher. You want to see your hard work pay off.
One of the best ways to determine a franchise’s potential profitability is by analyzing Item 19 of the FDD, which outlines the business’s financial performance. Also known as “The Earnings Claim,” Item 19 is an optional disclosure under the Federal Trade Commission. Keep in mind that it can be extremely difficult for a franchisor to predict net profit, since each franchisee is an independent operator and both reporting methods and the types of expenses taken will vary. Speaking with other franchisees is a good way to gain a fuller sense of the kind of return on investment you can anticipate.
Do I Need to Have Previous Industry Experience?
Many of the best franchisors care less about your industry background and more about whether you possess an entrepreneurial spirit, a passion for quality products and customer service, and a willingness to learn.
Your Pie is a full support brand, which means that your engagement, ambition, and dedication for building a business with a positive impact is all you are required to bring to the table—our team of experts will fill in the gaps by providing you with all of the training and preparation to make your restaurant a success.
What Type of Training and Ongoing Support Do You Provide?
Since you are looking to buy a proven system, proper training in that system is essential to your success as a franchisee. This includes not only operational training, but also training in how to hire and train employees, financial management, and attract and retain customers.
Your Pie supports franchisees through every step of the process, from site selection and build out, to training, through grand opening and beyond. Your Pie franchisees attend Your Pie University to learn everything from the history of the brand to our unique pizza building process, to local marketing techniques, and more. One of the greatest benefits of owing a franchise versus operating an independent store is the wealth of resources available to you. Ongoing support is in place long after you open your doors to provide you with any assistance you need.
Why Your Pie?
Your Pie opened its doors in 2008 as the nation’s first fast casual pizza restaurant concept that lets diners customize their pizzas with the freshest ingredients in a fun and vibrant setting. This level of creativity and engagement, not to mention the delicious pie, is unlike any other dining experience. Your Pie enthusiasts are created every day, fostering ongoing relationships and sustainable success.
Just as dining at Your Pie is a collaborative experience, so is the relationship between executive leadership and franchisee teams. Through every step of the way, Your Pie provides unparalleled support with training, advertising, restaurant design, and more. As a franchise, Your Pie is unique in its personalized and enthusiastic approach to the restaurant experience, for both customers and franchisees.
Learn more about franchising opportunities with Your Pie today.