Papa John's Introduces Unprecedented Franchise Development Incentive to Celebrate 25th Anniversary
Company Offers Zero Franchise Fee, No Royalties for First Year and $10,000 Early Opening Award
Louisville, Ky.--(BUSINESS WIRE)-- During an economic downturn in 1984, "Papa" John Schnatter tossed conventional wisdom aside to pursue his passion for delivering superior-quality pizza to the residents of southern Indiana. With the money received from selling his beloved '72 Z28 Camaro, Schnatter knocked out the broom closet of his father's tavern, purchased the necessary restaurant equipment…and got to work.
Twenty-five years later, Papa John's is the third-largest pizza company in the world with more than 3,400 restaurants and 80,000 system-wide employees, all living Schnatter's founding principle of "Better Ingredients. Better Pizza." This year, in celebration of Papa John's 25th anniversary, the company is rewarding others with Schnatter's entrepreneurial spirit by offering a groundbreaking development incentive to aspiring restaurant franchisees.
This best-in-class franchise program offers new and existing franchise owners:
- no franchise fee ($25,000 value);
- no royalty for 12 months; and
- a $10,000 early opening award.
"We see the current economy as an opportunity for growth," said Jude Thompson, Papa John's President and Chief Operating Officer. "We know we have a franchise model that works, and we are excited to launch this new incentive program to potential business owners who would like to join the Papa John's family."
The 25th Anniversary Development Incentive Program – valid for all approved franchisees who sign a development agreement before Dec. 27, 2009 – only adds to the appeal of owning a Papa John's franchise. Earlier this year, Papa John's was ranked No. 10 in the "Franchise 500" by Entrepreneur Magazine, No. 10 in "America's Top Global Brands" by Entrepreneur Magazine and one of the "Fastest Growing Franchises" by Entrepreneur Magazine. In 2007 and 2008, the company was named one of the "50 Top Franchises for Minorities" by the National Minority Franchising Initiative.
Headquartered in Louisville, Kentucky, Papa John's International, Inc. (NASDAQ: PZZA) 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.