Quick informal Pie 5, the pizza idea impressed by Chipotle, is receiving assist from sister chain Pizza Inn to construct quantity in its kitchens.
The model plans to package deal Pizza Inn as a digital idea in 5 places. Brandon Solano, CEO of mum or dad firm RAVE Restaurant Group, stated the pilot will “leverage Pizza Inn’s ‘latent model fairness’ in areas with out Pizza Inn protection to drive quantity and four-wall economics.” The take a look at will begin in the course of the firm’s second quarter, which is in the course of the fall season.
The transfer comes a couple of yr after RAVE unveiled essentially the most important menu transformation in Pie 5’s 12-year historical past. The replace centered on differentiated pizzas for people and the elimination of huge sizes. Solano on the time stated the quick informal was additionally “making operational and hospitality enhancements to personalize customers’ dine-in expertise whereas lowering third get together supply friction.”
Pie 5’s home same-store gross sales elevated 5.4 p.c in fiscal 2023 year-over-year and 0.6 p.c within the fourth quarter.
As of June 25, the chain had 27 eating places after closing 4 models and opening none all year long. RAVE stated the online lower was “primarily the results of the closure of poor-performing models.” That is the bottom Pie 5’s unit depend has been since Q1 2015 when it had 24 shops.
The chain as soon as had 100 models within the U.S. in early 2017, however retailer depend has been falling ever since. There is a practically 60-unit distinction between 2017 and 2023:
Finish of Fiscal 2023: 27
Finish of Fiscal 2022: 31
Finish of Fiscal 2021: 33
Finish of Fiscal 2020: 42
Finish of Fiscal 2019: 58
Finish of Fiscal 2018: 73
Finish of Fiscal 2017: 84
The primary Pie 5 restaurant opened in June 2011 in Fort Price, Texas. A couple of yr and a half later, the idea signed its first franchise improvement settlement. The model takes after Chipotle, by which pizzas are created on the path of shoppers in an meeting line format. Usually, Pie 5 shops are based mostly in endcap or in-line areas of between 1,800 to 2,400 sq. toes. Eating rooms can match 65–85 folks and there is patio seating when out there. Gross sales are primarily on-premises.
Regardless of the stunted progress, RAVE plans to maintain partaking operators.
“We intend to proceed creating franchised Pie 5 Models domestically,” the corporate stated in an SEC submitting. “The speed at which we will proceed to increase the Pie 5 idea via franchise improvement is decided partly by our success at deciding on certified franchisees, by our means to establish passable websites in applicable markets, and by our means to proceed coaching and monitoring our franchisees. We intend to proceed to concentrate on franchise improvement alternatives with skilled, well-capitalized restaurant operators.”
Pizza Inn completed its fiscal 2023 with 157 places. Of that, 123 have been within the U.S.—77 buffets, seven delco shops, and 5 Pizza Inn Categorical outlets. The chain’s comp gross sales grew 10.3 p.c in fiscal 2023 year-over-year and 9 p.c within the fourth quarter.
