Nation's Fastest-Growing Pizza Company Remains Unstoppable with Funding Sources, Superior Product
September 17, 2010 // Franchising.com // TOLEDO, OHIO - Marco's Pizza, with more than 220 locations in 17 states, continues its run as the nation's fastest-growing pizza company, announcing that it has secured agreements so far this year for 246 new locations, with plans to finalize additional development deals in the Fourth Quarter.
"We're now passing last year's records in terms of new stores opened and new stores sold into development at this point in the calendar, so while the economy has not been doing favors for the country, things are healthy in the Marco's Pizza world," said Jack Butorac, Marco's Chief Executive Officer. "We attribute the growth to a number of factors, one of which is creating new funding sources that have helped new franchise partners secure necessary capital to join our system."
Butorac was referring to recent news that Marco's Pizza was approved to receive up to $7.5 million in funding from Main Street Bank that allows franchisees who own at least one Marco's Pizza, or one unit of another franchise brand, with access to funds for opening new Marco's locations. This fund complements three additional Marco's Pizza financing programs created during the recession: a leasing program that will finance up to $200,000 in opening costs; a $5 million private equity fund for new stores in which Marco's invests up to $100,000 per restaurant; and the formation of a subsidiary called Marco's Assurance that provides a limited guarantee of bank loans to franchisees and pays to relocate certain stores.
Marco's Pizza, with more than 220 stores in 17 states and in the Bahamas, already is on the fast track for growth with 1,100 stores in development and approximately 50 new locations set to open in 2010 alone. Founded in 1978 by Pasquale "Pat" Giammarco, an Italian immigrant, Marco's Pizza offers carryout, delivery, dine-in and online ordering services. The menu features the company's Ah! thentic Italian pizza, Cheezybread, chicken wings, fresh-baked subs, meatballs, salads, soft drinks and more.
Headquartered in Toledo, Ohio, Marco's Pizza (Marco's Franchising, LLC) is the fastest-growing pizza company in the U.S. (based on the number of stores signed into development since 2007). Marco's was founded in 1978 by Pasquale ("Pat") Giammarco and is committed to making Ah! thentic Italian pizza with fresh ingredients. The company has grown from its roots as a beloved Ohio brand to operate more than 220 stores in 17 states and the Bahamas.