TL;DR
MOD Pizza is expanding its fast-casual pizza chain with 98 locations across 15 states, expecting $60 million in revenue for 2015. The brand was founded by Ally and Scott Svenson in 2008 and is looking for franchisees with a strong business sense and multi-unit experience.
There’s no shortage of pizza chains across the country, but that didn’t stop Ally and Scott Svenson from throwing their concept into the mix.
Cofounders of MOD Pizza , a wood-fired pizza chain, the Svensons are taking a large slice of the fast-casual marketplace.
After opening their first location in Seattle in 2008, the brand plans to have 98 locations across 15 states by the end of the year. According to Business Insider , MOD—which stands for “made on demand”—saw $20 million in revenue in 2014 and expects to see those figures rise to $60 million for 2015.
The brand states that an ideal franchisee will have a track record of establishing strong teams and successful multi-unit organizations. Along with having a strong business sense, the brand expects potential operators to surround themselves with strong and capable operating talent, and a conservative capital structure.
MOD's website states that candidates must have a net worth of at least $5 million, $3 million in liquid assets, experience in real estate development in given market, and an experience as a multi-unit restauranteur dedicated solely to the brand.
In this story
This story was originally published in 1851 Franchise on October 30, 2015. Burnaze summarizes and links to the original reporting.
Read the full story at 1851 FranchiseLiked this? Get the week's franchise news, explained
- Sunday 8 AM ET weekly + a monthly deep dive
- Sections picked for the industries you follow
- Every claim linked to its source. Free.