This story appears in the
August 1999 issue of
Entrepreneur.
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Cici Enterprises Inc., franchisor of 300 Cici's Pizza
restaurants in 15 states, receives franchisee applications all the
time. What the company looks for in prospects is the will to
succeed--"a fire-breathing, run-through-walls, great
attitude," says Joe Flanigan, Cici's vice president of
marketing.
That's a tall order for every applicant to fill. And those
who fit the bill don't always have the $253,000 to $389,500 it
takes to open a Cici's Pizza.
On the other hand, there are also those who would like to invest
in Cici's, but don't necessarily want to manage the
restaurant themselves. Thus was born the Cici's Investor
Program in 1997.
"We try to marry the two areas: those who have the money
and would like to make the investment in Cici's, and those with
that fire and attitude who just don't have the kind of money it
takes to invest themselves," says Flanigan.
Cici's program requires the franchisee to contribute
$10,000, while the investor covers the rest of the initial cash
payment. The investor then receives 6 percent of the top line sales
for the life of the business--the rest goes to the operator.
"The beauty is, there's no picking and pulling over the
[finances] in terms of expenses and so forth," Flanigan
explains.
With about one-sixth of Cici's Pizzas participating in the
program, there's one sure sign it's a success: In 11 years
of franchising, no Cici's Pizza has ever closed.
Contact Source
Cici Enterprises Inc., (972) 389-2424
