“Better ingredients, better pizza” is the mantra of Papa John’s Pizza, but these days they might also add better growth! Papa John’s is the third-largest pizza delivery company in the world and continues to show strong growth domestically and internationally. According to Yahoo Finance, Papa John’s has shown 12 solid years of domestic performance and 6 years of international growth.
Papa John’s Pizza was founded in 1983 by “Papa” John Schnatter in Jefferson, Indiana. Today, headquartered in Louisville, Kentucky; the company boasts 4700 restaurants worldwide with locations in all 50 states. Being the first company to introduce online ordering, in 2002, Papa John’s continues to dominate this category with over 55% of sales being digital.
Most Papa John’s restaurants are grab-and-go with carryout and delivery but some offer inside seating. Menu options vary beyond just pizza with side dishes such as breadsticks, cheese sticks, poppers, dessert items and beverages available. The restaurant chain has ongoing sponsorship agreements with ESPN and several of the national sports leagues.
With growth projections continuing in the 3 to 5% range, considering a franchise is a strong choice. Incentives to franchise with Papa John’s include a $25,000 franchise fee; a set of ovens for each store; a food credit where applicable; and reduced franchise royalties over the first four years. Typical estimated opening costs are $300,000 with average unit franchise sales exceeding $800,000. Entrepreneur Magazine lists Papa John’s as #4 in the Top 200 Global Franchises. A minimum net worth of $250,000 is required for franchise consideration and 8% of net monthly sales must be spent on advertising and marketing. The restaurant chain provides six to eight weeks of initial operator training and ongoing support after that.
At IRH Capital we provide Papa Johns financing that fits your budget. Installing new technology in your Papa John’s franchise or getting required upgrades can be expensive. We help finance new and used restaurant equipment and IT equipment including:
If you’re ready to make better pizza and need help with financing, IRH Capital is here for you. Apply Now with our fast and easy, free online application process to learn about our franchise financing options.