Papa John's Named Top-10 Franchisor by Entreprenuer Magazine
Louisville, Ky., (BUSINESS WIRE) -- Papa John's International, Inc. (NASDAQ: PZZA) has earned another industry honor, this time being named the number 10 global franchise for 2009 by Entrepreneur magazine in its annual Franchise 500 rankings.
"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."
Entrepreneur magazine's Franchise 500 rankings are among the most comprehensive franchise 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.
Papa John's strength and stability enable the company to offer industry-leading franchise incentives such as its domestic Enterprise Zone Program. The program 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 less 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.
Headquartered in Louisville, Kentucky, and celebrating its 25th anniversary in 2009, Papa John's is the world's third largest pizza company. For nine years running, consumers have rated Papa John's No. 1 in customer satisfaction among all national pizza chains in the highly regarded American Customer Satisfaction Index (ACSI). Papa John's also ranks first among pizza companies in the 2008 Brand Keys Customer Loyalty Engagement Index, was honored by Restaurants & Institutions Magazine (R&I) with the 2008 Silver Award for Consumers' Choice in Chains in the pizza segment, and was named 2007 Pizza Today Chain of the Year.
SOURCE: Papa John's International, Inc.