Net Worth and Capital Requirements
New York Pizzeria’s net worth and capital requirements for new franchisees are as follows:
|
1-3 units |
- Minimum net worth of US$450,000; and
- US$170,000 to US$500,000 per restaurant in cash, liquid assets, or available financing.
|
|
4-7 units |
- Minimum net worth of US$1,250,000; and
- US$170,000 to US$500,000 per restaurant in cash, liquid assets, or available financing.
|
|
8 or more |
- Minimum net worth of US$3,000,000; and
- US$170,000 to US$500,000 per restaurant in cash, liquid assets, or available financing.
|
These are minimum requirements and do not represent the total potential costs to open and operate one or more New York Pizzeria units.
Ownership
- The prospective franchisee should have a management team that has the listed requirements: Business Management experience, Restaurant or Retail experience – minimum 2 years
- The Owner/Operator must be actively involved in the day to day operation of the business.
- A personal financial statement and resume must be submitted for the principal operator.
International Franchise Fees
- The initial franchise fee is US$45,500 per unit for a standard New York Pizzeria restaurant.
- An ongoing management service fee (or royalty) of 7% of gross sales is due on a monthly basis.
- New York Pizzeria’s requires that a minimum of 2% of gross monthly sales be spent by each franchisee for local marketing.
International Franchise Agreements
- Letter of Intent: This letter outlines our understanding of the territory and the number of units to be developed in such territory, and requires a deposit. The deposit will be credited against the Territorial Fee, which is due when the Area Development Agreement is signed.
*THESE FRANCHISE REQUIREMENTS DO NOT CONSTITUTE AN OFFER TO AWARD A FRANCHISE. SUCH AN OFFER MAY BE MADE ONLY IN COMPLIANCE WITH APPLICABLE DISCLOSURE LAWS, IF ANY.
|
