CiCi's Pizza plans equity partnership with franchisees
CiCi's Pizza will present information about its "equity partnership" program during the Restaurant Finance & Development Conference in Las Vegas Nov. 4-6.
The company's recently launched 2013 Franchisee Partner Investment program features incentives for potential franchisees to help stimulate new restaurant development. For qualified new and existing multiunit operators who sign a development agreement, CiCi's Pizza will commit $100,000 of equity per store; the franchisee is required to invest a minimum of $125,000 per store.
The program is available in select U.S. markets and applies only to new or existing multiunit franchisees that will develop two or more new restaurants within five years.
The Restaurant Finance & Development Conference will be held at the Wynn Las Vegas, and CiCi's Pizza will exhibit at booth 723.
"Every franchisee wants to know that their franchisor has skin in the game, and there is no better way to show how confident we are in our business model than to invest alongside our franchise partners," said Thomas McCord, VP of Real Estate and Franchise Development at CiCi's Pizza. "This program provides the franchisee the ability to secure financing with a 40 percent equity position."
CiCi's Pizza also offers an additional incentive to those franchisees who pay back the corporate investment early. In doing so, CiCi's will reinvest those funds with the franchisee in their next store.
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