If you’re familiar with Russo’s New York Pizzeria, and our approach to business franchising, then you know we’re big proponents of starting a franchise in this growing industry. It’s a real winner right now, even amid economic uncertainty.
During 2021, while the pandemic restrictions were still severe, the pizza industry yielded over $45 billion in sales. There’s plenty of room for newcomers, but not all pizza businesses are created equal, which means you have to evaluate your options.
How do you identify the best fast-casual pizza franchise option in 2023?
Look for Growth Potential
If a company isn’t growing, it’s inevitably dying. That’s conventional wisdom across all industries, and it’s even more important in food service where many businesses fail within their first year of existence. For our part, Russo’s New York Pizzeria outpaces the revenue of other fast-casual pizza companies by more than $1 million a year. That puts us in the upper quartile of the industry, but we’re after more. The strongest companies, like ours, are the ones that replicate their business model far and wide, either in the domestic or international market space. That type of expansion is the key to growth, nowadays, and a particular emphasis of ours.
Find Franchises with Outstanding Training & Development
The whole point of entering a franchise agreement is to leverage an existing system, not to invent your own concepts. If you’re innovative enough to do things on your own, then more power to you. However, it’s often faster, and more fail-proof, to find a franchisor who already has a winning strategy, learn from them, and apply it. Granted, this only works if the company offers extensive training and continuous support. So, if you’re considering investing in a franchise business, you should scrutinize potential franchisors on this. Always make sure that they’ll show you the ropes, supply all the restaurant equipment, help you with marketing, and so forth. You can learn more about how we do it by reading our section on franchise support.
Ready to Sign an Agreement? Review All Documentation with an Attorney
Above all else, always take your time with the selection process. Once you reach the pivotal point, where you think you’ve found a match, comb through all the details carefully before signing anything. It’s well worth your time to review the Franchise Disclosure Document (FDD) and then the Franchise Agreement with an attorney. That’s the best way to avoid surprises or to misunderstand the “fine print” of a business contract.
These are the basics of identifying a reputable pizza franchise if you’re serious about running your own profitable enterprise.
Russo’s New York Pizzeria offers the best opportunity to operate a successful restaurant franchise, and we have multiple ways to do so. Whether you wish to run a full-scale Italian restaurant or something smaller like a fast-casual service, we can help you succeed. Call (832) 477-7597 to learn more about franchising with us or fill out the form below.