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Papa John's named to Top 10 Franchisor list
January 13, 2009
LOUISVILLE, Ky. -- Papa John's International Inc. has been named the No. 10 global franchise for 2009 by Entrepreneur magazine in its annual Franchise 500 rankings.
According to its Web site, the magazine looks at many factors in determining its rankings including financial strength and stability, growth rate, system size and start-up costs.
"This ranking is a testament to the strength of the Papa John's system and our growing presence not only in the U.S., but throughout the world," said John Schnatter, Papa John's founder and interim chief executive officer. "We're honored that the hard work of our franchisees and all of our team members has resulted in this ranking by Entrepreneur magazine."
Papa John's offers incentives such as its domestic Enterprise Zone Program, which allows franchisees who qualify to pay no up-front franchise fee - normally $25,000 - for development of restaurants in certain markets, including Boston, Chicago, Pittsburgh, Upstate New York, California, Connecticut, Michigan and New Jersey.
Additionally, franchisees agreeing to build five or more units in these areas pay a reduced royalty through 2011, and those building fewer than five restaurants will pay no royalty during Papa John's 2009 fiscal year. The program is available through Sept. 30, 2009.
"Our Enterprise Zone Program, which is one of the most aggressive development incentives in the industry, has proven to be popular with franchisees and continues to fuel our growth despite the challenging economic environment," said Thomas Flaherty, Papa John's vice president of new business development.
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