Papa John's Franchise Review
Papa John's Franchise Review
In 1984, the now-world famous pizza brand Papa John's had opened its first restaurant and from 1986 it had started franchising. Papa Johns franchises stands at more than 3,000 restaurants worldwide all of which are committed to fulfill the promise of the brand "Better Ingredients. Better Pizza." Want to become a part of this growing Papa John's franchising network which is spread over China, United Kingdom, United Arab Emirates, Malaysia, Canada, and many more countries?
Financial Requirements
The development agreements of Papa John's usually require a franchisee to be having in operation in a specific location, a minimum number of restaurants within a time limit of three to seven years. To make this happen, prospective franchisees should have supply of significant cash and net worth. Papa John's usually requires, a minimum net worth of US$2,000,000 with extra cash/liquid assets requirements as well.
Ownership Requirements
At least, one partner of the group applying for franchise should be from a business background and one partner should have sufficient, experience in retail or restaurant management.
All throughout the time of the existence of the franchise group, the Principal Operator will have to stay in the area going to be developed and he should have previous experience in management relative, to the amount of units that are to be developed.
For each member making up the proposed franchise group, a personal resume and financial statement must be submitted as well as the resume of the Principal Operator candidate.
Global Franchise Fees
For a Papa John's standard restaurant, the franchise fee stands at US$25,000 per unit.
On a monthly basis, 5% of net sales royalty or ongoing management service fee is applicable.
It is the requirement of Papa John's that each franchisee should spent minimum 6% of net monthly sales for marketing purposes. The percentage distribution should be 5.5% must be spent on local marketing and 0.5% should be paid, to a fund involved in global marketing.
Global Franchise Agreements
Intent Letter: This letter is non-binding and it outlines, our knowledge of the territory and amount of units to be built in the specific territory and this needs a deposit. If a Development Agreement or a Master Franchise is signed then it is against, the exclusivity fee that the deposit will be credited.
Development Agreement: This is a binding agreement which states down, all development obligations and rights as well as the development and territory schedule. We will consider only under certain conditions, a Master Franchise Agreement that will allow sub-franchising.
Unit License Agreement: This agreement is signed when; a particular restaurant is stated to open. The agreement governs the operations and terms of the unit.
Papa John's Int'l. Inc. is growing fast in the franchise business. It shows a marked improvement in the fact that it has become the #29 fastest growing franchise of 2010, compared to its #55 ranking in 2009. If you have that zeal to make it big, Papa John's Int'l. Inc. franchise is the right choice for you. Growth of medical tourism in India The Hottest False Nails Of 2011 Spring Pizza Hut Franchise Review Servpro Franchise Review Printable Christmas Cards For the Custom Holiday Look Neon Genesis Evangelion Misato Katsuragi Halloween Cosplay C Stratus Building Solutions Franchise Review Package Deals - Holiday Bundles and More Subway Franchise Review Supercuts Franchise Review The UPS Store Mail Boxes Etc. Franchise Review Cartier Diamond Trinity Ring Gift Of Spring Vanguard Cleaning Systems Franchise Review