Pivotal Growth Partners, a holding company that focuses on accelerating small, emerging brands to scale for private equity, announced it has added another high-potential company to its portfolio of flourishing franchisors.
Jeremiah’s Italian Ice, a Florida-based frozen treats franchise that focuses on providing delicious and refreshing Gelatis, Soft Ice Cream and Italian Ice, teams up with PGP, which will provide Jeremiah’s with the necessary franchise insight and guidance to reach their next level in the competitive space. With the addition of Jeremiah’s Italian Ice, PGP expands its portfolio holdings in the food concept market, which already includes Vitality Bowls and Conrad’s Grill.
“PGP is an ideal partner for Jeremiah’s at our pivotal stage of growth,” said Jeremy Litwack, CEO and founder of Jeremiah’s Italian Ice. “Their senior management team comes with a proven record of success and years of experience in franchising and brand building. They have already set us up with a strong foundation to expand and grow Jeremiah’s Italian Ice around the country.”
Jeremiah’s Italian Ice currently has 23 locations throughout the state of Florida and has been recognized as one of Orlando Business Journal’s ‘Fast 50 of Central Florida,’ one of the Orlando Sentinel’s ‘Best Bets’ 8 years consecutively, and received the Orlando Foodie’s award for ‘Best Frozen Treats’ for the 10th year in a row. The brand is a prime example of a high-potential brand that matches perfectly with PGP’s growing portfolio – concepts that create demand for their products by exceeding market expectations, creating a memorable brand and effortlessly delivering high-quality products.
Pivotal Growth Partners will work with Jeremiah’s Italian Ice to facilitate nationwide growth by focusing on the 5 Pillars of Franchise Excellence: Unit Level Economics, Franchisee Relationships, Consumer Marketing & Advertising, Technology Platforms and Organizational Culture.
“Working with Jeremy has been an outstanding experience and we are looking forward to adding Jeremiah’s Italian Ice to our family,” PGP co-founder Cameron Cummins said. “He has a tremendous energy and passion for his business. His desire for sustainable expansion meshed perfectly with our desire to help brands below $5 million EBITDA grow and find their niche in the marketplace.”
Launched last year by longtime franchise industry/brand development experts Bryon Stephens and Cummins, PGP provides a growth platform that serves as a “farm system” for emerging brands to thrive. Collectively, PGP has a combined 50+ years of franchising experience and a network of expert financial, operational, marketing and growth and development partners.
Stephens and Cummins are known for leading powerful growth results at franchise brands including Marco’s Pizza, A&W Restaurants and Yum! Brands. Under Stephens’ leadership as President of Marco’s Pizza, the brand grew from 139 units to over 800 by the end of 2017; unit profitability increased significantly, and system-wide sales increased to nearly $600 million annually.
According to a 2017 FRANdata report, 75 percent of new franchisors do not have experience in franchising. Many turn to business consultants, franchise brokers or firms that are simply outsourced franchise sales teams. PGP differs by implementing hands-on, proven methods to achieve operational excellence and a healthy environment to maximize an emerging brand’s value for shareholders.
“Our process utilizes systems that help franchisors feel comfortable moving forward with the growth of their emerging brand,” Stephens says. “We walk with them every step of the way to make sure they feel supported and ready for the next level.”
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