In this FDD Talk post, you’ll learn the following:
- Section I – Background information on the Pie Five Pizza Co. franchise opportunity, including relevant news updates
- Section II – Estimated initial investment for a Pie Five Pizza Co. franchise, based on Item 7 of the company’s 2015 FDD
- Section III – Presentation and analysis of Pie Five Pizza Co.’s financial performance representations, based on Item 19 of the company’s 2015 FDD, including information on the:
- 2014 average annual net sales, food cost, total payroll cost, operating expense, and EBITDAR for company-owned Pie Five Pizza Co. restaurants with less than $15,000 in average weekly net sales; from $15,000 to $20,000 in average weekly net sales; and greater than $20,000 in average weekly net sales, respectively
Section I – Background Information
Pie Five Pizza Co. Targets Swift Growth
As a relatively new pizza brand, Pie Five Pizza Co. has kept firing up exponential growth. The fast-casual restaurant chain, whose specialty is handcrafted individual pizzas, was launched in June 2011 in Fort Worth, Texas, and has steadily increased locations while also putting aggressive expansion plans in motion that include both adding locations and entering new markets.
Several honors have reflected this swift growth, along with the ability for a customer to get a personal pizza for an affordable and predictable price while also having robust choices for toppings.
The chain was named 2015 Best Franchise Deal by QSR Magazine in July 2015. At the time, Pie Five had 54 locations with plans to add nearly 400 restaurants through its aggressive franchise growth. Currently, the chain has more than 80 locations in 16 states and in Washington, D.C., with 500 locations in development. December 2015 saw Pie Five enter West Texas, Delaware, and Colorado.
Nearly 50 Restaurants Planned in Florida
Pie Five announced in September 2015 that it would bring 28 locations to South Florida through an agreement with DPS Investments, and then announced in November that DPS would add 20 more locations to the Tampa, Florida, market.
Parent Group’s CEO Receives High Honor
Pie Five is owned by Rave Restaurant Group, also the owner of Pizza Inn. Randy Gier, CEO of Rave Restaurant Group, was in June 2015 named a 2015 EY Entrepreneur of the Year for the Southwest region in the Hospitality category.
Quick, Custom Service
Customers get their personal pizzas extremely quickly, as the custom ovens bake the pies in 145 seconds. Four crusts – classic pan, artisan thin, whole-wheat grain Neapolitan and gluten-free – are available, along with seven sauces and 28 toppings. Customers can build their own pizzas from scratch or pick a specialty recipe, all for the same affordable price.
Mix and Match Sauces
To get started on building a custom pizza, a customer picks a crust and adds one (or more) of the seven sauces – Tuscan Marinara, Spicy Sriracha Marinara, BBQ, Buffalo Ranch, Ranch, Olive Oil, and Alfredo – and chooses mozzarella, cheddar, parmesan or ricotta cheese. Available meat toppings are pepperoni, grilled chicken, ham, beef, Italian sausage, bacon and meatballs.
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Veggies: Classic and Classy
Customers can go to town on the veggies, featuring classics such as mushrooms, bell peppers and pineapple side by side with options like Kalamata olives and marinated artichoke hearts that you don’t see at all pizza places.
Specialty Pizza for Those Who Can’t Decide
Those who don’t want to make all those decisions can opt for a preselected pizza: Chicken Carbonara, which starts with Alfredo sauce and features grilled chicken and parmesan cheese; Athenian, which takes that same grilled chicken and treats it to olive oil with Kalamata olives, feta and more; High Five, a classic with Tuscan Marinara sauce, cheddar cheese and a five-meat combo; Pesto Chicken Alfredo, which begins with Alfredo sauce, combines grilled chicken, roasted tomatoes and caramelized onions, and ends with a basil drizzle; Buffalo Chicken, with grilled chicken, cheddar cheese and banana peppers atop Buffalo Ranch sauce; and for vegetarians and tomato lovers alike, the Margherita, which combines olive oil, Roma tomatoes, minced garlic and basil.
Specialty pizzas are available in certain cities. The Jack Stack BBQ is only and aptly available in Kansas City, while Chicago diners can order the Windy City Works and those in St. Louis can try out the St. Louis Supreme, all featuring ingredients near and dear to those cities.
Sweets and Salads, Too
Pie Five offers hand-tossed salads served in baked pizza-dough bowls. Choose from whole-meal salads in classic Italian, Greek, spinach or chicken Caesar, or get a classic Italian, garden or Caesar side salad. The restaurants also treat the sweet tooth with rich, chewy brownies and indulgent cookie pies (they are billed as “part cookie, part pie”).
Section II – Estimated Costs
- Please click here for detailed estimates of Pie Five Pizza Co. franchise costs, based on Item 7 of the company’s 2015 FDD (updated).