Are you interested in opening a Papa John's franchise? If you have the desire to start your own business, franchising is one way to realize this dream. Papa John's pizza offers franchising opportunities which may allow you to buy your own franchise. Before you make the final decision to pursue opening a Papa John's pizza franchise, however, you need to be sure you qualify. Papa John's offers detailed information for potential franchise owners on its official website, along with an online application to get you started. Information provided includes franchise requirements and fees, along with information about lending programs that can help alleviate the financial burden that may come with opening a franchise.http://company.papajohns.com/franchise_opps/index.shtm Read on to learn more about how to open a Papa John's franchise.

Papa John's is one of the most successful pizza restaurant chains in the world, with more than 3,000 restaurants located all over the world. Papa John's offers a variety of different kinds of pizza for take out or delivery, along with additional menu items such as appetizers, breadsticks, cheesesticks and buffalo chicken wings.

Papa John's operates more than 2,000 franchises in the United States and more than 600 elsewhere throughout the world. Papa John's franchises are consistently ranked among the most successful franchises by Entrepreneur magazine. In 2010, Entrepreneur listed Papa John's 26th on it's annual Franchise 500 rankings list. Papa John's is also listed in the top 30 among the fastest growing franchises in the world.http://www.entrepreneur.com/franchises/papajohnsintlinc/282662-0.html

Papa John's was founded in 1984 by John Schnatter. Schnatter worked during high school in a local pizza restaurant in his hometown of Jeffersonville, Indiana. He got the idea to open his own pizza restaurant that would offer great pizza delivered hot and fresh to customer's doors. Schnatter studied business at Ball State University and when he graduated, he returned home to Indiana and used his father's bar as a home base for making and delivering pizzas. Schnatter opened the first Papa John's restaurant a short time later.http://company.papajohns.com/about/index.shtm

The first Papa John's franchise opened in 1986. Today, Papa John's continues to expand its franchises, with potential new markets located throughout the world. Despite economic troubles in recent years, Papa John's continues its growth: in a regulatory filing in 2010, the company said it intended to open up to 80 new locations globally.http://www.businessweek.com/news/2010-03-22/dollar-stores-fast-food-to-add-space-in-2010-colliers-says.html To spur growth, Papa John's began offering a special U.S. Development Incentive Program in 2010. The program eliminates franchise fees and reduces royalty rates for the first year on new franchise restaurants. Credits are given for food purchases and a free oven is also included in the deal.http://company.papajohns.com/franchise_opps/index.shtm Additional details about the incentive program can be found on the Papa John's website.

Potential Papa John's pizza franchise owners must meet certain franchise requirements in order to be accepted as a franchisee. U.S. franchise requirements include business management experience. At least one partner in the franchise must have this kind of experience in order to be approved as a Papa John's franchisee.http://company.papajohns.com/franchise_opps/us_requirements.shtm All principal owners must attend mandatory franchise training at the company's headquarters in Louisville, Kentucky. This training includes both classroom instruction and hands-on training to enhance management abilities. Training may last six weeks or longer.http://company.papajohns.com/franchise_opps/us_faqs.shtm

In addition to training, potential franchise owners should be aware of the specific other franchise requirements.

• Franchise fees: In 2010, Papa John's began a special incentives program that eliminates the standard $25,000 franchise fee for U.S. franchise owners.http://company.papajohns.com/franchise_opps/int_requirements.shtm The franchise fee for international franchises remains at $25,000 and has not been waived.http://company.papajohns.com/franchise_opps/int_requirements.shtm

• Specific financial requirements: According to Entrepreneur magazine, Papa John's franchise owners must have a minimum net worth of $185,000. This includes a cash liquidity of approximately $100,000.http://www.entrepreneur.com/franchises/papajohnsintlinc/282662-0.html

• The total estimated investment financially is between $113,000 and $528,000. The amount of the investment will vary depending on the number of franchises and their locations and sales volume.http://www.entrepreneur.com/franchises/papajohnsintlinc/282662-0.html

• Agreement terms: All Papa John's franchise owners will be required to sign a 10 year, renewable term of agreement with the company. The royalty fee is approximately 5 percent, though it has been reduced for 2010.http://company.papajohns.com/franchise_opps/us_requirements.shtmhttp://company.papajohns.com/franchise_opps/int_requirements.shtm

One key element of the franchising process to consider is financing alternatives. Between franchise fees and start up costs, the expenses can add up quickly. Starting a new business is expensive, and if you don't have enough money on hand, there are ways to get the money. For potential franchise owners who might not meet the specific financial requirements, Papa John's will allow them to partner with someone else who does.http://company.papajohns.com/franchise_opps/us_faqs.shtm

Papa John's does not offer in-house financing, but the company does provide information on certain lending institutions that may be available to help potential Papa John's franchise owners. These companies include First Franchise Capital, Butler Capital Corporation and PNC Equipment Finance.http://company.papajohns.com/franchise_opps/us_lending.shtm These lending institutions may be available to help with financing to cover franchise fees, start up costs and equipment.

Potential Papa John's franchise owners may also want to check into personal loans, whether from banks or friends and/or family members who might want to help. In addition, potential franchisees should learn more about the numerous guaranteed loan programs that may be offered through the Small Business Administration.http://www.sba.gov/financialassistance/borrowers/guaranteed/index.html

The content in this page is not a substitute for professional financial advice. Please contact a finance professional before using the information presented here.