Papa John’s (PZZA) Plans to Open Over 200 New Franchises in 2012

November 20, 2012 11:13 AM EST Send to a Friend
Papa John’s International, Inc. (NASDAQ: PZZA) announced today that it will sign more than 200 North American franchise agreements in 2012. These franchisees, nearly half of whom represent individuals who are opening their first Papa John’s restaurant, expect to create more than 5,000 new jobs over the next three years.

Today’s announcement comes less than three months after the company communicated continuation of its industry-leading Papa John’s Franchise Development Incentive Program. The program offers zero franchise fee, 0% royalty for 18 months and $50,000 in restaurant equipment for new restaurants opened through 2013. In 2012, restaurant openings under this program created approximately 3,000 jobs in North America.

Under the company’s 2013 Development Incentive Program, franchisees signing development agreements in the U.S. now through 2013 under this program can receive:

* No franchise fee ($25,000 value);
* $50,000 in equipment, including two Middleby-Marshall ovens, which may be purchased by the franchisee for $50 after operating for three years;
* A royalty waiver for up to 18 months; and
* A $3,000 food credit with PJ Food Service, which operates Papa John’s fresh dough and food distribution quality control centers, for each restaurant that opens at least 30 days prior to the scheduled opening date.

The program is generally available for new U.S. unit development agreements signed by qualifying franchisees through Nov. 30, 2013, for new restaurant openings on or before Dec. 29, 2013. The incentives are subject to the complete rules and eligibility requirements of the program at the time of signing a development agreement


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