Little Caesars wants to open 70+ new stores in the Philly area, where it sees ‘significant demand’
The announcement comes as the larger fast-food industry sees consumers cutting back.
Little Caesars Pizza hopes to open dozens of new restaurants in the Philadelphia region in the coming years, according to an executive at the national chain.
The Detroit-based company already has 45 restaurants in the Philly metro area, but it sees room for at least 70 more, including in the Western suburbs and South Jersey, vice president of development and construction Basil Kazepis said Tuesday.
This effort in Philadelphia is part of a larger national push to attract more franchisees in certain “priority markets,” where Kazepis said there is “significant demand.”
Little Caesars is a private company, meaning it doesn’t have to publicly share financial information. But three of its publicly held competitors — Domino’s, Papa John’s, and Pizza Hut — have recorded an up-and-down year so far as wary consumers cut back and prioritize value.
All three of those publicly owned chains reported negative sales in the first quarter. Domino’s recovered in the second, posting a more than 3% increase, with boosts for both delivery and carryout. But Pizza Hut’s sales fell, and Papa John’s announced plans to close dozens of U.S. stores this year (its second-quarter earnings report is set to be released Thursday).
These developments follow larger trends in the fast-food industry, with chains like McDonald’s and Starbucks seeing a drop-off in low- and middle-income customers amid economic uncertainty.
Little Caesars’ executives, however, are optimistic.
“The pizza industry is experiencing significant growth,” Kazepis said, “and we aim to capitalize on this momentum to expand our footprint and serve more customers.”
The company, known for its “Pizza! Pizza!” slogan and “hot-n-ready” pies, has been holding local information sessions and webinars for potential franchisees. Kazepis said franchisees can expect to spend between $446,500 and $1.8 million to open a new location.
“We welcome candidates of all sizes, from single-unit owners looking to expand to multiunit operators ready to develop several locations,” Kazepis said.
“Ideal candidates possess business leadership experience, a sales-oriented mindset, and a passion for the food service industry,” he added. “They should also demonstrate involvement in daily operations, sufficient liquidity, and a commitment to long-term growth and community relations.”
He said interested entrepreneurs can connect with the company at franchise.littlecaesars.com.