John Stetson is a familiar name in Southern Florida, becoming one of the leading serial entrepreneurs in the area with his sights set on expanding his markets. Stetson is the founder and owner of Sunset Bay Capital, a private equity firm.
His recent investment has been in Stoner’s Pizza Joint, with five locations having already been opened since the end of 2019. Stetson, having strong philanthropic roots, conveys the values of giving back to the local community in various ways. Stoner’s Pizza Joint is committed to not only the community but providing fresh high-quality takeout and delivery options in the form of pizzas, calzones, chicken wings, salads, and desserts.
Location determines franchise success
While Stetson attributes a portion of his success to the quality of the product they provide, he explains that one of the most important determining factors of success is based firmly on location.
Stetson shares, “It’s part of our secret sauce. We use different metrics when determining locations.” As many new business owners have probably heard, location can make or break your business. Stetson circles back and outlines that the process for landing on a particular location should not be taken lightly.
There are many different factors that should be considered when figuring out if a certain location is right for you. “In metropolitan areas, we focus on delivery addresses, competition, demographics with a focus on age range, rent rates, and the overall acceptance of our unique name”, Stetson further explains.
Flexibility is a competitive advantage
As a relatively new franchise, Stetson is proud to offer more flexibility than the competition. He states that this aspect, for any business, is pertinent. Location demographics may shift and, as an owner, you will need to be able to adapt to continue performing best business practices and provide the same level of quality to your customer.
Wavering on your level of commitment for even one location could spell out a downfall for the entire operation. Stetson explains, “We believe our brand experience and the unit economics make it very appealing to anyone looking to franchise in the Quick Service Restaurant space.” Franchisees are generally found by having enjoyed the experience in another area and think the brand will prosper where they are located.
Keep an eye on the market
Analyzing market competition across various areas has allowed Stoner’s Pizza Joint to keep upfront costs low for franchisees, presenting a lucrative business plan for those seeking to get into the industry and fostering expansion across multiple states.
A heavy emphasis on the value of location, as well as becoming an asset to the local community, has allowed Stoner’s Pizza Joint to glide seamlessly into their target markets. Without taking the time to research and employ ideas for different markets, success could waiver.
The future is bright for Stoner’s Pizza Joint, as they have seen unprecedented growth since conception and continue to bud. Stetson says that customers can soon expect, “More owners and more locations!” as the franchise continues to expand into the Denver market.
Melissa Moraes is a freelance writer covering startups, socially responsible brands, and the newest trends in the world around us. Based in South Florida, she enjoys sunny beach days and motorcycle rides in her spare time.
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