LevelUp eliminates merchant fees

Mobile payment startup LevelUp is throwing down the gauntlet to other payment networks. It's eliminating all transaction fees charged to merchants who accept its payment method.

Papa John's franchisee receives $6.7M credit facility

GE Capital, Franchise Finance recently provided a $6.7 million credit facility to Pizzerias LLC, a Papa John's franchisee that operates 31 locations in the Miami market.

Franchise lending up 6 percent year over year

Lending to franchise businesses saw a drop of about 0.5 percent from April to May, according to the monthly Franchise Lending Index from the International Franchise Association (IFA) and BoeFly, an online marketplace connecting small business borrowers with lenders. Despite...

Pie Five concept showing store level progress

Pizza Inn Holdings Inc.'s third fiscal quarter ended March 25 and included a net income decrease of $0.4 million year-over-year to $52 thousand, compared to net income of $0.4 million for the same quarter of the prior fiscal year. The...

Heartland Payment Systems launches SmartLink for restaurants

Heartland Payment Systems has launched its SmartLink for Restaurants, a managed network service that provides secure, high-speed transport of card transaction data and back office information. SmartLink for Restaurants is designed to let restaurateurs break free of IT chores and...

Chuck E. Cheese's plans marketing makeover to reverse slipping sales

CEC Entertainment Inc., parent company of Chuck E. Cheese's, reported its Q1 financial results Thursday, which included a drop in revenues and profit. Total revenues for the quarter decreased 3.8 percent, or $9.6 million, to $246.8 million from $256.4 million for the first quarter of 2011.

Yum! Brands names new president and CFO

Louisville, Ky.-based Yum! Brands Inc. has announced the promotion of Rick Carucci, 54, to president, reporting to chairman and CEO David C. Novak. The company also announced the promotion of Patrick Grismer, 50, to chief financial officer, reporting to Carucci. Carucci has served as the company's CFO since 2005.

Restaurant industry turns in strongest post-recession quarter

Driven by solid same-store sales and traffic results and an increasingly bullish outlook among restaurant operators, the National Restaurant Association's Restaurant Performance Index (RPI) reached its post-recession high in March. The RPI – a monthly composite index that tracks the...

Papa John's buying bankrupt franchises

Papa John's will pay a total of $5.25 million to buy Colorado and Minnesota franchises currently owned by Baltimore-based PJCOMN Acquisition Corp., which is operating under bankruptcy protection. According to the Denver Business Journal, the franchisee filed for Chapter 11...

Franchise lending on a steady upswing

Franchise lending has steadily increased throughout the past 12 months, according to the new monthly Franchise Lending Index from the International Franchise Association (IFA) and BoeFly, an online marketplace connecting small business borrowers with lenders. According to the data, throughout...

Restaurants add 560,000 jobs, NRA partners with CareerBuilder

The National Restaurant Association reports that restaurants have added more than 560,000 jobs since the beginning of the employment recovery, with more than 200,000 of those positions created in the last six months. "The restaurant industry strongly contributes to the...

Papa Bello Enterprises secures $20M in financing

Papa Bello Enterprises, parent company of Papa Bello Pizza, Kebab Café, Royal India Express and Pastore's Italian Bistro, has received $20,000,000 in financing from AGS Capital Group LLC. The money will be used for reserve equity financing. "REF is an...

CiCi's Pizza allocates $5 million for franchise funding

CiCi's Pizza has announced its new investment and financing programs to help existing and prospective franchisees with funding options to further address the challenges of today's lending environment. The new programs are part of the CiCi's "Build the Brand" initiative...

USDA projects temporary rise in chicken prices

A shortage of poultry is expected to drive up chicken prices for consumers, according to the recently released USDA Agricultural Projections to 2021 report, which was also featured in the February issue of Food Nutrition & Science. The USDA predicts...

Pizza Hut franchisee acquires 36 more units

Kansas-based NPC International Inc. has completed the acquisition of 36 Pizza Hut units, including five fee-owned properties located primarily in and around Jacksonville, Fla., for $18.8 million from Pizza Hut Inc. Thirty of the units acquired generated $27.8 million in...

Private equity firm buys stake in Anthony's Coal Fired Pizza

GE Capital, Franchise Finance has provided a $25 million credit facility to an affiliate of private equity firm The Quilvest Group to purchase a stake in Anthony's Coal Fired Pizza Inc. The financing includes a $17 million term loan and...

Pizza Inn profits drop on Pie Five investment

Pizza Inn Holdings Inc. reported results for the second quarter of fiscal year 2012, including a decrease in net income – from $0.3 million to $0.1 million – due to the investment costs of opening its new Pie Five concept.

Sbarro names new president and CEO in turnaround bid

The Board of Directors of Melville, N.Y.-based Sbarro Inc. has announced that James Greco, 54, has been named president and chief executive officer, effective immediately. Greco joins Sbarro from Bruegger's Enterprises, where he also served as CEO and led the bagel-bakery chain through strong performances and growth.

Epic Programs Group expands liability coverage for pizza delivery

Epic Programs Group, a managing underwriter and program administrator providing risk management and insurance solutions, has announced an expansion of coverage available in its newest program for delivery operators. Dubbed "SLICE" (safety, loss control, insurance, coverage, expertise), the program now...

Boston Pizza adds seven new restaurants to royalty fund

Vancouver, British Columbia-based Boston Pizza International Inc. has adjusted its Royalties Income Fund to include the royalties from seven new restaurants which opened across Canada in 2011. All of the restaurants are full service. Also during that time period, from Jan.

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