Company Launches Enterprise Zone Program to Spur Development
LOUISVILLE, Ky.–(BUSINESS WIRE)–Papa John’s International (NASDAQ:PZZA) was recently named one of the top 50 franchises for minorities by the National Minority Franchising Initiative (NMFI). NMFI made the selection based on many factors, including historical performance, brand identification, franchisee satisfaction, the level of initial training, on-going support and financial stability.
“We are honored to be included among the top 50 franchise opportunities for minorities,” commented Papa John’s president, USA, Bill Van Epps. “We believe our franchise base should reflect the diversity of the customers we serve and we are working to make this a reality.”
The selection also was based on the results of a detailed questionnaire that focused on the minority make-up of the existing franchisee base and at the senior management level within the franchisor, and development incentive programs offered to minority franchisees.
To that end, Papa John’s recently launched an Enterprise Zone Program allowing franchisees who qualify to pay no up-front franchise fees for developing restaurants in predominantly urban markets, including: Buffalo and Albany, N.Y.; Boston; Chicago; Detroit; California; Connecticut; and New Jersey. Additionally, franchisees agreeing to build five or more units pay a reduced royalty through 2010, and those building less than five restaurants will pay no royalty during 2008. The program is available through Sept. 28, 2008.
“We’re optimistic that our new Enterprise Zone Program, which is one of the most aggressive this industry has seen, will support our continued growth with minority franchisees,” said Thomas Flaherty, Papa John’s vice president of new business development. “We’ve placed a strong emphasis on recruiting minority franchisees to better reflect the neighborhoods we operate in, and the customers we serve. Minorities currently make up more than 20 percent of the Papa John’s system, and with programs like our new Enterprise Zone Program, we hope to substantially increase that number.”
Headquartered in Louisville, Kentucky, Papa John’s International, Inc. (NASDAQ:PZZA) is the world’s third largest pizza company. For eight years running, consumers have rated Papa John’s No. 1 in customer satisfaction among all national pizza chains in the highly regarded American Customer Satisfaction Index (ACSI). For more information about the company or to order pizza online, visit Papa John’s at www.papajohns.com.