About Papa John's Pizza
At this time, Papa John's pizza franchise is the third largest in the United States, but its origin started in 1984 when owner John Schnatter bought a small building and opened his first shop. A year later, the first Papa John's franchise was born and have been growing ever since. Today, more than 3,000 locations worldwide in over 27 countries and counting.
- Like most other pizza franchises nationwide, the cost of buying a pizza franchise like Papa John's is similar. You must have a minimum of $ 50,000 in cash or liquid assets, you must have a minimum net worth of $150,000 and a good credit history to obtain funding for another $ 200,000 or more.
- The total investment is usually between $ 200,000 and $ 400,000. The initial franchise fee is $ 25,000 per restaurant. The fee is 5 percent of turnover, but the franchise also requires that 7 percent of monthly net sales to be used for advertising initiatives, including national advertising campaign.
- A very interesting thing about Papa John's is that they sell more franchises by offering incentives. In 2011, they offer a free series of pizza ovens without franchise fees and charges 0 percent for 12 months. It is actually a very big incentive because they are obviously selling more franchises during this difficult economic period. This is the kind of creative thinking that Papa John's is known for.
- Papa John's Pizza is a heavy contributor to philanthropic causes and community involvement. They participate in programs such as Junior Achievement, Boy Scouts, YMCA, and many others.