Firenza Pizza Franchise Review (2024)
Firenza is a fast casual pizza concept featuring New York style pizzas, wings, meatballs, and salads committed to fast service with high quality ingredients.
Firenza Franchise Background
Firenza is unique in the fast casual pizza space as they allow the customer to fully customize their pizza. The made-to-order pizzas are prepared and served very quickly. Additionally, they are baked-from-scratch using very high quality ingredients
Management Team
Founded in 2014 by Domino’s veteran and expert operator, Dave Wood, CEO and founder, when he realized that his experience in the industry would enable him to offer a much superior product for a fast casual price point. Dave teamed up with his long time operating partner, Dave Baer, to create and launch the business.
Firenza has been able to grow remarkably quickly due to the management team’s vast industry experience and track record of success.
Recently, Firenza acquired another fast casual pizza company called Persona, which has added one of the top pizza chefs, Glenn Cybulski, to the management team
Franchise Strengths
- Very experienced franchise management team that has opened up locations in a wide variety of states
- Use of high quality ingredients leads to a superior tasting and healthier product that is evident to consumers
- High gross margin business
- Differentiated product offering at an affordable price point baked quickly through an innovative baking process
Franchise Weaknesses
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- Location and site selection are quite important in dictating the success of the business
- Margins have the potential to be eroded due to changes in price of ingredients and / or increase in labor costs
Franchise Opportunities
- Opportunity to grow with an emerging yet experienced franchisor that is rapidly growing all over the U.S.
- Huge industry that is continuing to grow – the pizza industry is worth over $38bn a year in the U.S.
- 93% of Americans go out for pizza or buy grocery-store pizza at least one a month(1)
- The majority of people prefer New York style pizza(2)
- Opportunity to differentiate from competitors through quick service pizza at an affordable price point. Also offers gluten-free products
Franchise Threats
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- Operating in a large, competitive market
- Potential for more consumers to choose to cook and eat meals at home
- Potential for food tastes to change and failure to adapt to those changes
- Profits can be negatively impacted due to close proximity of a similar competitor
How much is a Firenza Franchise?
Firenza Franchise cost ranges from $256,450 to $546,000 according to the 2020 FDD
Estimated Initial Investment
| Cost Types | Amount (in USD) | To Whom Payment is to Be Made | |
|---|---|---|---|
| Low | High | ||
| Franchise Fee | $40.000 | $40.000 | Franchisor |
| Travel and Living Expenses while Training | 1.000 | 4.000 | Various Vendors |
| Real Estate / Rent and Deposit | 3.750 | 20.000 | Landlord |
| Leasehold Improvements | 55.000 | 210.000 | Various Vendors |
| Buildout Management | 0 | 15.000 | An Approved Vendor |
| Equipment and Small Wares | 70.000 | 90.000 | Various Suppliers |
| Mill Works and Furniture | 40.000 | 52.000 | Various Designated Suppliers |
| Signage | 3.000 | 15.000 | Vendor |
| Computer System | 4.000 | 7.000 | Designated Vendor |
| Office | 500 | 2.000 | Various Suppliers |
| Licenses and Permits | 500 | 5.000 | Licensing and Permit Authorities |
| Legal and Accounting | 2.000 | 5.000 | Attorney, Accountant |
| Dues and Subscriptions | 200 | 500 | Various Vendors |
| Utility Deposits | 0 | 2.500 | Utility Companies |
| Insurance | 500 | 3.000 | Insurance Company |
| Initial Inventory | 3.500 | 5.000 | Designated and Approved Suppliers |
| Grand Opening Marketing | 2.500 | 10.000 | Designated and Approved Suppliers |
| Additional Funds (3 months) | 30.000 | 60.000 | Suppliers and Employees |
| Total | $256,450 | $546,000 | |
Take out and delivery model
| Cost Types | Amount (in USD) | To Whom Payment is to Be Made | |
|---|---|---|---|
| Low | High | ||
| Franchise Fee | $40.000 | $40.000 | Franchisor |
| Travel and Living Expenses while Training | 1.000 | 4.000 | Various Vendors |
| Real Estate / Rent and Deposit | 2.500 | 10.000 | Landlord |
| Leasehold Improvements | 25.000 | 110.000 | Various Vendors |
| Buildout Management | 0 | 15.000 | An Approved Vendor |
| Equipment and Small Wares | 70.000 | 90.000 | Various Suppliers |
| Mill Works and Furniture | 10.000 | 22.000 | Various Designated Suppliers |
| Signage | 3.000 | 15.000 | Vendor |
| Computer System | 4.000 | 7.000 | Designated Vendor |
| Office | 500 | 2.000 | Various Suppliers |
| Licenses and Permits | 500 | 5.000 | Licensing and Permit Authorities |
| Legal and Accounting | 2.000 | 5.000 | Attorney, Accountant |
| Dues and Subscriptions | 200 | 500 | Various Vendors |
| Utility Deposits | 0 | 2.500 | Utility Companies |
| Insurance | 500 | 3.000 | Insurance Company |
| Initial Inventory | 3.500 | 5.000 | Designated and Approved Suppliers |
| Grand Opening Marketing | 2.500 | 10.000 | Designated and Approved Suppliers |
| Additional Funds (3 months) | 20.000 | 40.000 | Suppliers and Employees |
| Total | $185,200 | $386,000 | |
| Royalty | Ad-Fund | Local Ad-Fund |
| 6,0% | 2,0% | 2,0% |
