The steps below provide a guideline to the basic steps to our Master Franchise development process:
Step 1: Learn
You review the information contained here to understand the partner profile, available territories and basic financial requirements.
Step 2: Contact
Help us get to know you and your team by filling in the initial enquiry questionnaire here. After reviewing this, a member of the Pita Pit team will contact you with our initial response.
Step 3: Initial Call
Candidates who meet our initial criteria will be contacted by our Pita Pit development specialist to arrange an introductory call. This is an opportunity to share your vision and goals with us, as well as to have your initial questions answered.
Step 4: NDA and Initial Master Franchise Terms
Successful candidates will then be sent a non-disclosure agreement. When returned, we will send the initial one page term sheet. The term sheet will outline:
- Initial Franchise Fee
- Continuing royalty rates
- Agreement duration and renewal
- Territory specific details
Step 5: Candidate Review
You review the term sheet with your team. Pita Pit will be available for questions and clarifications.
Step 6: The Proposal
In lieu of a “standardized” application form, you will be asked to produce a proposal that will cover the key elements of your future plans. This will include:
- Ownership structure
- Company profile and /or leadership bio(s)
- Key team member(s) bio
- Available capital and sources
- 5-year location development schedule and location (city level - not specific)
- Sub Franchising strategy: ratio of master franchise vs sub- franchised run locations including timing in 5-year plan
Step 7: Proposal Review
Pita Pit will review the proposal and respond. This may be an iterative process as we work to merge your vision with ours.
Step 8: Letter of Intent (LOI) and Deposit
Candidates whose vision is a fit with Pita Pit’s will be sent a Letter of Intent which contains the main agreed to business terms and conditions for your review, signature and return with the deposit.
Step 9: Due Diligence and Business Plan
Pita Pit conducts a thorough review of candidate company and / or principal(s). Candidate completes business plan.
Step 10: Master Franchise Agreement (MFA) and balance of initial fee
Candidate is sent the Master Franchise Agreement for legal review, signature and return with the balance of the Initial Franchise Fee.
Everyone celebrates before the hard work begins building the next fast casual powerhouse in your country!