The Hummus & Pita Co. updated its Franchise Disclosure Document (“FDD”) to include Item 19 financial information. Item 19 shows restaurants between only 930 square feet—1,850 square feet generating between $1.3—$2.1million in annual sales. The New York City-based popular Mediterranean fast casual has proven their great unit economics and is now franchising nationwide.
“We want potential franchisees to see how well we’re doing in our Item 19,” says Jan Axelrod, founder of The Hummus and Pita Co. “Franchisees care about sales per square feet since they pay rent per square feet, so we want to be transparent with how we perform.”
Since opening in 2011, The Hummus and Pita Co. has introduced New York City to real, authentic Mediterranean food. The company now has 4 stores located throughout Manhattan with strong unit economics. The financial strength of the restaurant encouraged early stage investment group Kitchen Fund to invest in the concept in early 2017.
“The Mediterranean fast casual segment is growing quickly with no national leader, and The Hummus & Pita Co. enjoys 2x the sales-per-square-foot found in the better burger, fresh burrito, and designer pizza concepts which only average $500—$600psf in sales,” says Dan Rowe, CEO, Fransmart.
The Hummus & Pita Co. is looking for franchise partners to help introduce its menu to customers in major media markets across the country. Fransmart serves as The Hummus & Pita Co.’s exclusive franchise development partner and is the franchise development partner behind the explosive growth of brands like Five Guys Burgers and Fries.