COPPELL, Texas, May 16, 2013 (GLOBE NEWSWIRE) -- Today, CiCi's Pizza, home of the endless pizza buffet, set a precedent for creative "equity partnership" with the launch of the 2013 Franchisee Partner Investment program.
CiCi's Pizza created a special fund to break down the barriers of franchise financing and stimulate new restaurant development. For qualified new and existing multi-unit operators who sign a development agreement CiCi's Pizza will commit $100,000 of equity per store; the franchisee is required to invest a minimum of $125,000 per store. The program is available in select U.S. markets and applies only to new or existing multi-unit franchisees that will develop two or more new restaurants within five years.
"Every franchisee wants to know that their franchisor has skin in the game, and there is no better way to show how confident we are in our business model than to invest alongside our franchise partners," said Thomas McCord, VP of Real Estate and Franchise Development at CiCi's Pizza. "This program provides the franchisee the ability to secure financing with a 40 percent equity position."
CiCi's Pizza also offers an additional incentive to those franchisees who pay back the corporate investment early. In doing so, CiCi's will reinvest those funds with the franchisee in their next store.
The new investment program is part of the company's overall strategy to spur growth in new or underserved markets, including Los Angeles, San Diego, Salt Lake City, Washington D.C., Chicago, Miami and St. Louis. Looking to attract multi-unit operators with proven restaurant experience, CiCi's Pizza offers four distinct revenue streams: the custom buffet, catering, To Go and the game room. Varying business prototypes (ranging from 1,200 - 3,600 square feet) also allow franchisees to maximize their market penetration and profitability.
For franchising information or further details about the Franchisee Partner Investment program, contact Carrie Evans at cevans@cicispizza.com or 972.745.9313.
About CiCi's Pizza
Coppell, Texas-based CiCi's Pizza opened its first restaurant in Plano, Texas, in 1985 and now has more than 500 restaurants in 34 states. The family-oriented restaurant, known for its endless pizza, pasta, salad, soup and dessert buffet, was named America's favorite pizza chain in the 2012 Market Force survey and has been listed by Zagat and Parents magazine as a top family-friendly restaurant. Also in 2012, CiCi's fully redesigned website was honored as an outstanding website by WebAwards, CiCi's was recognized by G.I. Jobs as a Military Friendly Franchise®, and Entrepreneur named CiCi's to its Franchise 500 list. For more information about CiCi's, visit www.cicispizza.com or www.facebook.com/cicis.