CiCi's Pizza announced plans to open up to 15 new restaurants in the New York City/Northern New Jersey area over the next five years. Executives with the company have targeted Long Island, Staten Island, and Jersey City among potential communities for development with the goal of finding the right franchise partners to operate the restaurants.
After conducting extensive research, including area demographics and other factors, CiCi's Pizza executives found NYC/Northern New Jersey to be an ideal selection for expansion of the brand. "We're 100 percent committed to building our brand presence in the New York City and New Jersey areas and believe the specific territories we've identified for development are ripe for sustained success," says Thomas McCord, vice president of real estate and franchise development at CiCi's Pizza. "We've thoroughly examined the market and found that the demand for our pizza buffet concept continues to grow. We're eager to find franchise owners who are passionate about delivering on our promise to consistently serve delicious food in a welcoming environment."
Within the greater NYC/Northern New Jersey area, executives with CiCi's Pizza find the following communities to be viable options for expansion: Union, Yonkers, Harrison, Clifton, Elmwood Park, Staten Island, Patchogue, Trumbull, Watchung, Bay Shore, Jersey City, Elizabeth, Garden City, Linded, Piscataway, Somerset, Woodbridge, Valley Stream, and Ocean. To jumpstart the development, company executives are meeting with prospective single and multi-unit franchise owners while also searching for additional well-qualified franchisees.
Each new CiCi's Pizza will positively impact the local economy by creating about 40 to 50 new jobs and awarding roughly $280,000 in local development contracts. From an investor's perspective, CiCi's Pizza offers four distinct revenue streams: the custom buffet, catering, To Go orders, and the game room. Moreover, multiple prototypes are available to new franchisees designed to maximize profits for the owner and allow for penetration for improved brand availability. Restaurant design options include the traditional buffet model, To Go units, and an Express prototype currently under test.
The NYC/Northern New Jersey development is part of a much larger company mission to aggressively grow the brand in the coming years. To help augment brand growth in new and mature markets, CiCi's Pizza has developed several financing and incentive programs, including its Patriot Program that offers veterans a better path to business ownership, to assist prospective franchisees with funding options. During 2013, the company will also explore growth potential internationally, as well as in nontraditional venues such as airports, casinos, military bases, and universities.
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