Benetrends, a trailblazing architect of multiple franchise funding solutions, has established a new $20 million proprietary funding program through a new partnership with Mountain Mike's Pizza franchising.
LANSDALE, Pa., April 11, 2023 /PRNewswire-PRWeb/ -- Benetrends, a trailblazing architect of multiple franchise funding solutions, has established a new $20 million proprietary funding program through a new partnership with Mountain Mike's Pizza franchising. Founded in 1978, the California based family-style pizza purveyor has been franchising their concept for four decades, with nearly 270 units established across several states in the western U.S. In just the last three years, Mountain Mike's Pizza has seen a 21.8% increase in unit sales, good enough to earn them a top-100 spot (92nd) in Entrepreneur's 2023 Franchise 500 rankings – their fifth consecutive appearance on this prestigious list. Thanks to the brand's continued success and growth potential, they've been selected to participate in Benetrends' proprietary funding program. This influx of capital offers prospective franchisees and current owners with direct access to funding earmarked for future brand growth and expansion, making Mountain Mike's Pizza an attractive option for lenders.
"One thing you can always count on in America is the popularity of pizza, which is why we're excited to announce $20 million in proprietary funding for Mountain Mike's Pizza," said Rocco Fiorentino, CEO of Benetrends. "This allocation should spur additional growth for this successful fast casual brand, as they increase their market share through new franchises and the expansion of existing locations."
With a tagline stating, "Pizza the Way it Oughta Be!" Mountain Mike's delicious, oven-hot pizza pies are made with fresh dough, 100% whole milk mozzarella cheese, and a wide variety of custom toppings piled as high as a mountain. But pizza isn't the only scrumptious item on the menu, as the franchisor also offers crowd-pleasing favorites such as bone-in chicken wings, savory sandwiches, fresh salads, sides, desserts, and beverages including both beer and wine. Mountain Mike's also offers onsite game rooms for kids and a collection of big-screen TVs, ensuring fun for the whole family. According to the brand's most recent FDD, Mountain Mike's franchise locations generated a systemwide average unit volume of $1.1 million, with the top 25% of all restaurants each averaging $1.6 million in sales.
Benetrends' generous $20 million funding allocation should go a long way towards helping the brand achieve its expansion goals, a fact echoed by Mountain Mike's principal owners. "We're proud of our success in expanding our brand footprint, but we believe there's still plenty of room for additional franchise growth," stated Chris Britt, principal and co-CEO of Mountain Mike's Pizza. "We've set an ambitious goal to award another 200 or more units in the next five years and our candidates can now bank on this direct access to capital from our partners at Benetrends." Principal and co-CEO Ed St. Geme concurs, stating, "Annually, the pizza market is a $46 billion industry, and franchise operations account for more than half of this revenue. Mountain Mike's Pizza is an attractive business opportunity for candidates looking to establish an entrepreneurial future, an audience we hope to capture with this new funding arrangement."
Franchisors, and by association their franchisees, stand to benefit from Benetrends' new proprietary funding program in multiple ways. These advantages include direct access to capital for qualified candidates, a simplified application process, a dedicated Benetrends representative for turnkey loan servicing, document preparation in as little as 48 hours, and commitments within 10 business days of lender receiving the completed loan package. For future proprietary brand funding announcements and more information on Benetrends, please visit http://www.benetrends.com.
About Benetrends:
Benetrends is the authority in franchise and small business financing and is acclaimed for its Rainmaker Plan® that enables entrepreneurs to use their qualified retirement plan to purchase, or recapitalize a business or franchise, tax deferred and penalty free. Benetrends originated the 401(k)/IRA rollover, funding nearly 30,000 entrepreneurs in the last 40 years. Benetrends provides a comprehensive suite of small business funding options and business service solutions. For more information, please visit Benetrends and connect on Facebook, Twitter, YouTube, and LinkedIn.
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