The international pizza franchisor will add 49 new stores to its network.
Papa John’s International, Inc. has announced the signing of its largest traditional store development agreement in North America in over 20 years.
HB Restaurant Group, already the owner of 43 Papa John’s locations in the Mid-Atlantic area and a franchisee since April 2019, will open 49 new stores in Philadelphia and southern New Jersey between 2021 and 2028.
“Papa John’s has long offered franchise investors one of the fastest paybacks in our industry. Recent record sales have driven further gains in-store profitability,” said Amanda Clark, chief development officer for Papa John’s. “Combined with our resilient e-commerce and delivery model, a transforming brand and significant whitespace, Papa John’s today offers franchise investors a truly compelling opportunity. We’re excited to grow our partnership with HB Restaurant Group, already an important member of the Papa John’s family, as we accelerate our development activities at this unique moment for the brand.”
To date, Papa John’s has more than 5,000 restaurants worldwide, and despite the ongoing pandemic, the pizza brand saw an increase in system-wide comparable sales in May of this year, with growth of 4.3 per cent worldwide. Papa John’s shares have also increased this year, by around 46 per cent – hitting an all-time high in July 2020.
“We joined the Papa John’s system a year ago after seeing a tremendous opportunity to invest in and grow with a great brand,” said Stuart Hunt, president of HB Restaurant Group. “We are very excited to extend our growth strategy by developing new stores in a great market like Philadelphia and southern New Jersey. Papa John’s is built on supporting our neighbors where we are located, and we embrace these values. We look forward to becoming an integral part of our communities as we grow.”
We had the pleasure of speaking with Amanda Clark on a recent episode of the Global Franchise Podcast, about how Papa John’s has maintained its exponential growth in the face of ongoing industry challenges. To check out this conversation, as well as all of our other episodes with franchising experts, make sure to head on over to globalfranchisemagazine.com/podcast.