Pita Pit highlighted in The Intelligencer

Pita Pit was recently interviewed in an article in The Intelligencer in Doylestown, PA about the measures they had adapted to attract potential entrepreneurs into the franchise system. The article states that Pita Pit has reduced their initial franchise fee by 40% of the $25k it once cost, and limits royalties for the first two years of operation. These measures allow potential entrepreneurs to enter into the system at lower costs and help give them stronger incentives to join into a franchising system. A portion of the story is shared below, and you can view the full article here.

Programs lure franchisees
By: CRISSA SHOEMAKER DEBREE

Owning a franchise has gotten a little bit easier, thanks to the still-slumping economy and tightened credit markets.

Franchise companies across the country are reducing their fees, crafting financing plans and, in some cases, temporarily eliminating royalty payments, all to help prospective owners open their own locations or expand with more franchise units.

Alisa Harrison, a spokeswoman for the International Franchise Association, said the industry typically sees rapid growth during economic downturns, as laid-off employees decide to go into business for themselves. But the difficulty of obtaining credit is holding some people back and spurring franchise companies to be more creative. (Read More).

Pita Pit Featured in Wall Street Journal

Recently Pita Pit was featured in The Wall Street Journal on April 8th in an article entitled, “Creativity on the Menu for Restaurant Financing.” The article was built from an interview with Corey Browman, Mike Brink, and Justin Kopleman. The article discusses different creative ways that franchisees are finding loans/financing options in the current economic climate. Below is a thumbnail of the article along with a link to the entire scanned article.

“Creativity on the Menu for Restaurant Financing.”
By Julie Bennett

Coeur d'Alene Press covers Pita Pit

COEUR d'ALENE - Pita Pit USA Inc., based in Coeur d'Alene, continues to see franchise growth while many other food franchises have been slowed by the continued weak economy.

Company representatives also said that the company has seen an increase in the number of applications for franchises, but the franchisor has been selective about new owners and franchise locations.

Many new Pita Pit franchise owners are recent college graduates, some of whom have had difficulty finding employment because of the economy, a trend which is expected to continue. Other new franchise owners are people who have lost their jobs in the economy and have become frustrated working for others, said Kevin Quinn, director of franchise development.

The recent college grads often partner with parents or others who can provide the financial backing, he said. "The young franchisees fit well in the college environment," said Quinn.

(READ MORE)

Pita Pit Franchisee Featured in Charlotte Business Journal

Charlotte Pita Pit Franchisee, Peter Keretsis, was featured in a Charlotte Business Journal article today. The article was built from an in-depth interview with Peter Keretsis about his experience as a small business owner. The article is a Q&A discussing Peter’s entrepreneur story as a business owner and how his journey landed him back in Charlotte. The article also discusses his success in the Charlotte market and new areas that would be a great fit for the Pita Pit brand.

Charlotte Pita Pit Franchisee, Peter Keretsis with his business partner and wife, Angela.

Cutback becomes recipe for success
by Adam O’Daniel

Peter Keretsis believes his quick-service restaurant franchise, The Pita Pit, has the potential to grow across the region.

But he also says it’s important to balance his hours at the uptown restaurant with time with his family at home. So for now, he’s focused on maintaining that equilibrium, instead of expanding the business.

You once owned Pita Pit stores in Athens, Ga., and Columbia, S.C., in addition to the uptown store. Why did you sell them?
I love my wife and my kids too much. I sold the other two so I could be at home more to spend more time with them.

It wasn’t a financial reason, both stores were doing great. But I was working too much. So I made the personal decision to cut back and spend more time here.
Things are going so well here at this store now that I’m afraid to try and branch out again and ruin a good thing that I’ve got going. But I guess you never say never.

Are there other areas of Charlotte where a Pita Pit would succeed?
I feel like a location at University City would be great. They’d get the best of both worlds because they could draw the business customer during the day and then also be attractive to students at UNCC. I think one would do good in Stonecrest or in Ballantyne. Maybe even SouthPark, if you could find the right place with the right rent.

(READ MORE)

Pita Pit Featured in Business Week

Recently, Pita Pit was highlighted in a Business Week article showcasing Pita Pit's unique and interactive training methods. Peter Riggs, VP for Pita Pit, brought in Jane Hammons, a local math teacher, to improve his franchisee training and make it fun and interactive. Below is a portion of the article including a link directing you to the article in its entirety.

Improve Your Employee Training Sessions
Make training engaging and interactive, not a lecture
By Carmine Gallo

If you dread leading employee training sessions, chances are your trainees share that lack of enthusiasm, making it much harder to transfer knowledge than it needs to be. One way to remedy this common problem is to make sure that the trainer—whether it's you or someone you select—is enthusiastic and knowledgeable.

Peter Riggs is vice-president for The Pita Pit, a quick-service sandwich chain with 180 stores across the country. Every month, new or existing franchisees assemble in Coeur d'Alene, Idaho, for several days of training. Riggs wanted to make sure they not only look forward to the training but share their experiences after it's completed. When he decided to hire a full-time trainer, he looked outside the industry and found Jane Hammons, a local math teacher with 19 years of experience and a reputation for keeping her classes engaged. Hammons had no experience in the restaurant business but had everything Riggs was looking for. "Anyone can learn systems, but if you don't have someone who is truly passionate about transferring that knowledge to eager minds, your training is going to be subpar," Riggs told me.

(READ MORE)

Pita Pit Franchising Featured In the Miami Herald

Recently, The Pita Pit was featured in an article about franchising and appealing to potential investors during a tough economy in the Miami Herald. Below is the first part of the article and a link to view the whole story, including the portion on Pita Pit and their efforts to appeal to potential franchisees.

Franchise Appeal Grows in Down Economy
By Bridget Carey

After being unemployed for a year, Pauline Hamian ditched the résumé and bought herself a job.

The former Burger King employee had no luck finding a job after being part of a corporate restructuring in 2008. While at an outplacement center, she stumbled on a webinar about franchising.

"I felt I had to do something,'' Hamian said. "It provided an opportunity for me to do something I've never done before and never really envisioned myself doing.''

With the help of a franchise broker, she decided to invest in ShelfGenie -- a company that installs sliding shelves for kitchen and bathroom cabinets. She didn't need to buy a storefront -- it all can be done from home. There were no fixed costs and her two part-time employees work on commission.

Jobs are still scarce, so the unemployed are reinventing themselves and becoming the majority of new franchise owners, industry sources say. The troubles in commercial real estate are making it easier by driving some landlords to negotiate -- sometimes offering several months' free rent or paying for remodeling.

While banks continue their tight grip on lending, some franchisors are seeing a dip in investors and are responding by lowering fees and offering internal financing deals. But without a loan, a home-based franchise like ShelfGenie becomes an affordable option for those wanting a fresh start on their careers. Areas that are expected to increase in popularity: quick-service restaurants, real estate, senior care, eco-friendly businesses and health.

(READ MORE)