CiCi's Pizza Selects BoeFly to Assist Its Franchisees in Obtaining Bank Financing
Leading pizza franchisor to offer BoeFly's Concierge Team Services to its franchisees nationwide
New York, NY, February 24, 2011 --(PR.com)-- BoeFly, the premier online marketplace connecting lenders with business borrowers, announced today that CiCi's Pizza, an award-winning pizza franchise, has selected BoeFly to assist its franchisees in obtaining bank financing.
Nearly half (49.2%) of the respondents in a recent member survey by the International Franchise Association (IFA) identified "financing/access to credit" as the top issue of concern to franchise business leaders. In response to this concern, and bolstered by its success in helping many individual franchisees obtain financing, BoeFly created a portfolio of services for the franchisor market. Through BoeFly, franchisors can offer franchisees access to a network of lenders through the posting of a single loan request on BoeFly's Internet-based loan exchange, assistance in creating an effective loan request and support managing lender inquiries. BoeFly uses proprietary matching technology to connect franchisees with lenders that their loan package meets specific lending criteria, increasing franchise revenue by helping franchisees connect with the capital they need to open their businesses.
CiCi's offers an endless buffet of fresh salad, savory pasta, delicious desserts and fresh-from-the-oven pizzas at a great price, all across the country. CiCi's was recently ranked No. 1 in its category by Entrepreneur Magazine's 2011 Franchise 500. In 2008, CiCi's was ranked No. 1 in the pizza industry by Franchising Business Review and Parents magazine named CiCi's one of the best family restaurants in America in 2010.
"CiCi's goal for 2011 is strategic and sustainable growth," said Bill Spae, CiCi's Pizza Chief Development Officer. "We're working with a number of industry leaders like BoeFly to connect future franchisees with top-notch services to ensure business success."
"Today even top franchisors face a significant challenge – converting otherwise qualified franchisee candidates into ongoing, paying customers because of the difficulty they have accessing capital," said Robert Tannenhauser, CEO of BoeFly. "Franchise lending has been down by as much as 40 percent in the past two years due in part to the inefficiencies in the lending process that have been exposed by the financial crisis. BoeFly eliminates these inefficiencies by connecting franchisees with banks that are ready and willing to lend."
About CiCi's Pizza
Coppell-based CiCi's Pizza opened its first restaurant in Plano, Texas in 1985. The family-oriented restaurant is known for its popular pizza, pasta, salad and dessert buffet featuring up to 20 varieties of pizza and fresh ingredients for $5 and change. Today, the expanding company has more than 600 restaurants in 35 states. CiCi's commitment to value was recently recognized in USA Today, Restaurants & Institutions and Nation's Restaurant News, which ranked CiCi's No. 1 in sales and unit growth among pizza chains for the past four years. In 2010, Parents magazine ranked CiCi's to its top family friendly list, and Entrepreneur magazine ranked CiCi's Pizza first in the Italian restaurant industry category in 2009 and 2007. Also a franchise veteran, CiCi's was named to a list of the top 25 performing brands in the Wall Street Journal's guide for entrepreneurs and a top 200 franchise concepts by Franchise Today.
For more information about CiCi's, visit www.cicispizza.com or www.facebook.com/cicis. For information about franchising, contact Bruce Evans at bevans@cicispizza.com or 972-745-4200.
About BoeFly
BoeFly is the only online marketplace harnessing technology to dramatically simplify the execution of commercial transactions, including all loan origination and sales. BoeFly revolutionizes how deals get done by seamlessly connecting all parties, including lenders, borrowers, franchisors, investors, buyers and sellers to a potential transaction and facilitating the efficient completion of these transactions. For small business lenders, BoeFly also provides the ability to sell loans to investors freeing up liquidity for even more small business lending. BoeFly is a subscription service and does not charge any transaction fees.
Key to the success of BoeFly is the site's dynamic compatibility technology which matches parties based on a specific set of criteria. Also, to help BoeFly subscribers complete transactions, BoeFly offers access to service providers in a wide variety of professions from appraisers, to closing attorneys, to environmental consultants.
BoeFly was founded by small business lending experts with extensive banking and secondary market experience. The company is privately-held and is based in New York City. www.boefly.com. Franchisors seeking to grow revenue by increasing the number of successfully financed franchisees please visit www.boefly.com/franchisor.
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