Re-Energized Chain Used Incentive Program to Entice Franchisees in Tight Economy
THE COLONY, Texas, July 20, 2009 (GLOBE NEWSWIRE) -- Pizza Inn (Nasdaq:PZZI), an international pizza chain famous for its traditional and specialty pizzas, is defying recession-conservatism, having recently signed 13 new deals through its development incentive program. In addition, Pizza Inn, Inc. has one new corporate-owned location under construction in the city of Fort Worth, TX and has signed letters of intent for 2 additional locations in the Dallas - Fort Worth metroplex, continuing their commitment to growing the company.
Offered to both new and existing franchisees, the incentive program was designed to maximize potential for domestic growth and offer flexible alternatives for franchisees who may be discouraged by the current credit crisis. The benefits included 0% royalty for the first full year of operation and 2% royalty for the second full year, easing start-up costs during the first two years of a new restaurant's operation.
Existing Pizza Inn franchisees have signed on to develop additional locations, further demonstrating their dedication and re-investment in the brand. Two current franchisees have signed agreements to open five locations in the greater Spartanburg area, while other existing franchisees will be opening locations in southern North Carolina, Knoxville, TN, Ardmore, OK, and Pontotoc, MS.
Pizza Inn has also attracted veterans in the franchise industry who bring experience from such heavyweights as Subway, Hardees and Sonic, among others. Three new franchise groups have signed on to develop locations in Abilene and Ft. Worth, TX and Jesup, GA.
"The current economic environment presents an excellent growth opportunity for us, as families continue to seek more economical dining options," said Charlie Morrison, CEO of Pizza Inn. "We look forward to expanding our brand throughout these areas and serving up taste, quality and value with our family-oriented atmosphere. These new agreements are a result of our incentive program and the addition of Madison Jobe as Vice President of Development to the Pizza Inn team. Given his strong industry reputation and his ability to attract quality individual and multi-unit development partners to our system, these are the results we expected."
With more than 300 locations, Pizza Inn has benefited from America's increasing commitment to family-friendly dining, affordable pricing and freshly-made food items.
