Successful Five Guys franchisees will open up to eight locations of nation’s leading fast-casual pizza brand
Now they’ve identified Pie Five Pizza as “the next big thing.”
Pie Five Pizza Co., a subsidiary of Pizza Inn Holdings, Inc. (NASDAQ: PZZI), announced today that it has awarded up to eight franchise units to the Perceys, who will introduce the leading brand in the rapidly growing fast-casual pizza space to the Richmond, VA, market.
“We searched extensively for another exciting concept where we could replicate the success we have had with Five Guys, and we are extremely impressed with Pie Five’s business model,” said Percey. “The simplicity of their operations, the consistency of their product and their seasoned management team all add up to a winning formula. We’ve become big fans of Pie Five, and we know our friends in Richmond will soon be fans as well.”
Pie Five has been named a 2013 Top 50 Restaurant Brand of the Year, a 2012 Hot Concepts winner by Nation’s Restaurant News and one of “10 Hot New Restaurant Chains from Established Brands” by Forbes.com.
“When a successful franchise team like the Perceys say they want in on your concept, you know you’re onto something special,” said Madison Jobe, chief development officer for Pie Five. “We couldn’t ask for better partners to lead Pie Five into the Richmond market, and we look forward to the ideas they will surely bring back to us that will contribute even further to our growth across the country.”
Prior to becoming a Five Guys franchisee, Jeff Percey was Director of Franchise Development at Fransmart, Inc., where he represented young restaurant brands seeking to expand nationally and learned the inner workings of several successful franchise concepts. His immersion in real estate analysis, contract negotiations, infrastructure development, training and vendor relationships, to name a few, positioned him well for his move into the franchising arena.
The Perceys now operate six Five Guys locations in Richmond and Baltimore. They have won two of the chain’s top awards: “Top Franchisee – Highest Average Unit Volume” and “High Sales Volume in a Traditional Location,” as well as the “Best of Richmond” award based on consumer voting.
“Pie Five is focused on doing a few things really, really well, and it shows in the quality and consistency of their pizzas, salads and desserts,” said Percey. “With Pie Five, pizza lovers no longer have to compromise, because they can get their own ‘perfect pizza’ for one price, served hot and delicious in less than five minutes. We also like that their leadership team is investing in running their own restaurants as well as franchised locations.”
At Pie Five, guests can choose from more than a million combinations of handcrafted pizzas and a variety of specialty pie choices prepared in less than five minutes on one of four crusts. The rapidly growing chain is capitalizing on growing consumer demand for fresh dining options and artisan pizzas in stylish environments without the wait.
Pie Five currently has 10 locations in Texas and one location in Utah. The addition of the Richmond market brings the total announced franchise restaurants under contract to 72 in Florida, Missouri, North Carolina, Florida, Texas, Utah and Virginia.
The first Richmond-area restaurant is projected to open in early 2014.
Pie Five is a subsidiary of Pizza Inn Holdings, Inc., headquartered in the Dallas suburb of The Colony,Texas. Pizza Inn Holdings, Inc. is an owner, franchisor and supplier of a system of restaurants operating domestically and internationally. Pie Five Pizza Co. is a fast-casual concept offering individual pizzas made to order and cooked in less than five minutes. Founded in 1958, publicly traded Pizza Inn Holdings, Inc. (NASDAQ: PZZI) franchises approximately 300 restaurants and directly owns and operates 14 restaurants. For more information, please visit www.piefivepizza.com.
