Rita's Italian Ice
#94

Initial Investment

LOW: $140,500
HIGH: $414,200

Change in Units

+7.0% +42 UNITS (1 Year)
+7.5% +45 UNITS (3 Years)

Promoted Opportunities

Company Profile

Founded

1984

Franchising Since

1989 (27 Years)

Corporate Address

1210 Northbrook Dr., #310 Trevose, PA 19053

CEO

Jeffrey Moody

About Rita's Italian Ice

In 1984, former firefighter Bob Tumolo opened his first Italian ice store in Bensalem, Pennsylvania, naming it after his wife Rita. His mother helped him make the Italian ice, and his brother John helped him open three more stores over the next three years, all in the Philadelphia area. Customers began asking about how to open their own Rita's Italian Ice, so Tumolo began franchising in 1989. The franchise system was sold to private equity group McKnight Capital Partners in 2005. Then in late 2011, investment firm Falconhead Capital bought a controlling interest.

Financials

Financial Requirements

Initial Investment

$140,500 - $414,200

Net-worth Requirement

$300,000

Liquid Cash Requirement

$100,000

Ongoing Fees

Initial Franchise Fee

$30,000

Ongoing Royalty Fee

6.5%

Ad Royalty Fee

3%

Financing Options

Rita's Italian Ice has relationships with third-party sources which offer financing to cover the following: 
startup costs, equipment

Veteran Incentives


50% off franchise fee

Franchise 500® Rank History

Highest Rank: 76

Lowest Rank: 156

Units (Locations)

Where Seeking Franchisees:
Franchisor is seeking new franchise units worldwide.

Operations & Franchisor Support

Training at headquarters: 5 days

Additional Training: At certified training store

Ongoing Support
Purchasing Co-ops
Newsletter
Meetings
Toll-Free Line
Grand Opening
Internet
Security
Field Operations

Marketing Support
Co-op Advertising
Ad Slicks
Regional Media
National Media

Absentee Ownership Allowed

Number of employees required to run: 2 - 15

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Disclaimer

The Franchise 500 is not intended to endorse, advertise, or recommend any particular franchise. It is solely a research tool you can use to compare franchise operations. Entrepreneur stresses that you should always conduct your own independent investigation before investing money in a franchise.

Updated: December 14th, 2015

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