Squisito Pizza
Squisito Pizza offers Italian cuisine including pizzas, pastas, salads, and sandwiches under two brand names: Squisito® Pizza and Pasta, and Squisito NY Pizza & Pasta Too. Known for customizable options, this franchise requires a significant investment of $264,600 to $837,500.
Squisito Pizza franchise FAQ
How much does it cost to open one — the total initial investment?
The total initial investment necessary to begin operation of a Squisito® Pizza and Pasta franchise ranges from $264,600 to $837,500. This includes a mandatory payment of $35,000 to the franchisor and/or its affiliate [p.1].
What is the initial franchise fee?
The initial franchise fee is $35,000 for each Restaurant to be developed under the agreement [p.11, p.74, p.150].
What are the ongoing royalty and advertising fees?
The ongoing royalty fee is 5% of Gross Sales [p.74], due each week based on the previous week's sales [p.74]. Advertising expenses are covered by costs incurred as they occur, with no specific ongoing fee mentioned in the provided excerpts [p.63]. This isn't specified in the excerpts for advertising fees beyond the establishment of a Creative Fund which has not yet been established [p.28].
How long is the initial franchise agreement, and can I renew it?
This isn't specified in the excerpts. The FDD does not provide details about the length of the initial franchise agreement or the renewal process beyond mentioning that a successor term may be granted under certain conditions [p.73].
Can I sell or transfer my franchise, and what does that require?
You can sell or transfer your franchise, but it requires payment of a transfer fee equal to fifty percent of the current initial franchise fee [p.157]. The transferee must also meet certain criteria as specified by the franchisor, including educational, managerial, and business standards; good moral character, business reputation, and credit rating; financial resources; and geographic proximity to existing franchises [p.101].
On what grounds can the franchisor terminate the agreement?
The franchisor may terminate the agreement on any grounds available by law [p.185]. However, termination or cancellation without reasonable cause is unlawful under Virginia Retail Franchising Act Section 13.1-564, unless specific grounds for default or termination stated in the franchise agreement are deemed to constitute 'reasonable cause' as defined by Virginia law [p.187].
What financial requirements — net worth and liquid capital — do I need to qualify?
This isn't specified in the excerpts. The FDD does not provide specific details on required net worth or liquid capital amounts for franchisee qualifications. [p.79] mentions maintaining sufficient working capital but does not specify a minimum amount.
Do I get an exclusive or protected territory?
The type and size of your territory depend on the location of your Restaurant. You will receive a non-exclusive site search area if you do not have an Accepted Location at the signing of the Franchise Agreement, but upon execution, you may be assigned an exclusive territory that is either a maximum of a two-mile radius in suburban areas or as little as one-eighth of a mile in densely populated urban areas [p.35, p.69]. This isn't specified in the excerpts for all scenarios, so the exact details can vary based on your specific location and agreement terms.
What training and ongoing support does the franchisor provide?
The franchisor provides initial training for the franchisee and their Managers at no additional cost, but the franchisee must cover expenses such as travel, lodging, meals, and wages. This initial training lasts approximately 28 days and is mandatory to be completed satisfactorily before opening the restaurant [p.31]. Additionally, the franchisor may offer refresher training programs or annual meetings at their expense, though attendance can be designated as mandatory for the franchisee and/or Managers [p.33].
How many franchised outlets are there, and how many have closed or been terminated?
This isn't specified in the excerpts.
Does the franchisor share any financial performance or earnings information?
The franchisor does not make any financial performance representations and does not authorize its employees or representatives to do so [p.50]. However, if you are purchasing an existing outlet, the franchisor may provide actual records of that outlet's performance [p.50]. Additionally, the franchisor is permitted to include financial performance information in the disclosure document only under specific conditions, such as providing actual records of an existing outlet or supplementing the information provided in Item 19 [p.48].
What am I restricted to selling, and where must I buy supplies?
You are required to sell only the menu items and other products and services expressly approved in writing by the franchisor [p.42]. You may not deviate from their standards and specifications without first obtaining written consent [p.42], and you must discontinue selling any items they disapprove of [p.42]. Regarding supplies, you may have to buy or lease certain items from the franchisor or a limited group of suppliers designated by them, which might be more expensive than other options [p.4].