Core Values Lead The Way For Capriotti's
Capriotti's Sandwich Shop is on a roll.
The beloved Las Vegas-based fast casual franchise, known for serving up award-winning, hand-crafted sandwiches, is on the road to becoming a national brand, experiencing record growth and investor interest.
Backed by strong leadership and a winning business blueprint, Capriotti's signed 50 franchise agreements last year, with no signs of slowing down. Franchise inquiries for the legacy brand are also soaring, up 300 percent in 2017, over the previous year, bolstered by strategic marketing initiatives and technology investment, notes David Bloom Capriotti's chief development officer.
"Our strategy of spending the last decade making the upfront investment developing the people, the systems, processes, and technology platforms in preparation of our planned national expansion is certainly paying off," Bloom says. "Many brands are always trying to catch up to their growth from a support standpoint, which often ends badly for everyone. Capriotti's has done just the opposite, thanks to the foresight, experience, and resource commitment of our investors, our board of directors and our senior management team."
While Capriotti's may look like an overnight success to some, the brand is built on a proven heritage of success, made famous for its 40-year nightly tradition of slow-roasting whole, all-natural turkeys in-house and hand-shredding them each morning to feature in a variety of fan-favorite subs. The chain, long boasting a loyal following in home markets of Las Vegas and the Mid-Atlantic, has expanded to more than 100 stores in 20 states.
In recent months, Capriotti's signed new development agreements in Delaware, Rhode Island, Colorado, and California, along with plans for additional restaurants underway by the chain's existing franchise partners.
"Capriotti's has a $1.1 million AUV (of the top 25 percent), a number that sets the brand high above typical "sub shops," Bloom says. "In addition, more than 70 percent of our system is multi-unit franchisees, proving that partners are reinvesting in the brand."
Looking ahead, Capriotti's projects expansion will extend "into mature and new markets nationwide" and select international markets, with an overall brand strategy to grow to 500 locations by 2025, through franchising. The five core values, Bloom outlines below, will always lead the way in order for Capriotti's to ensure the right franchise fit:
- Passion: This is a vital component when searching for franchise partners. Passion for the brand correlates with a successful, long-term relationship.
- Family: It is important to look at fellow franchise partners and the corporate team as the family you choose. Who will be the best team player? Who will support their fellow franchise partners? Who can you count on to be dedicated in their support to you?
- Integrity: Integrity is one of the hardest qualifications to look for in a potential franchisee. One tactic we use is to ask questions about the prospect's peer network, as the number of peers in their circle can align with integrity.
- Profitability: It goes without saying that your franchise partners should strive for profitability, in order to mutually benefit the relationship. We look for past business experience, knowledge, and drive in order to accomplish these criteria.
- Genuineness: The Capriotti's brand is genuine in itself. We seek partners who are authentic in their motives and eager to join the company for the right reasons.
Bloom says Capriotti's combination of new blood and energy, combined with a high degree of organic growth within the existing franchise partner base, is a great recipe for long-term success.
"I am proud to call our franchise partners part of the Capriotti's family," Bloom says. "They know that we respect them and care about them, which allows us all to have open and honest communications, as we build the brand forward."
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