Are you looking for a franchise opportunity in the food industry that would incorporate traditional Italian foods with a twist? Then, it will be worth trying Goodfellas Pizza. Well-known as one of the most genuine New York pizza places, Goodfellas focused on genuine pizza and the Master chef’s approach to pizza. Discover price plans, revenue, and requirements for joining the Goodfellas Pizza Franchise team in 2024.
Table of Contents
About Goodfellas Pizza: A Classic Pizza Brand
| Brand Name: Goodfellas Pizza |
| Owned By: Independent Franchisees |
| Established Year: 1993 |
| Goodfellas Headquarters: Staten Island, New York, USA |
| First Store: Staten Island, New York |
| Number of Outlets: 25+ across the USA |
| Store Expansion Plans for 2024-2025: More than 20 new outlets |
| Goodfellas Franchise Model: FOFO (Franchise Owned, Franchise Operated) |
| Goodfellas Revenue (2023): $15 million |
| Official Website: Goodfellas |
The Goodfellas Pizza mainly specializes in thin-crust pizzas and uses fresh ingredients alongside fire ovens. The menu is inspired by New York-style pizza and includes massive slices of cheese, pepperoni, or plain as well as a selection of original gourmet toppings. Consumers like to describe its taste as getting ‘old-world’ and point to the easygoing comfort of its outlets.
About Goodfellas Pizza chain
The restaurant opened its first store in 1993 in Staten Island and has since been very popular because of its real New York Style Pizza and Italian-American cuisine. Since then, Goodfellas has grown across the United States of America and opened more than 25+ restaurants in 2023. The chain has largely located itself in urban centers and given its emphasis on food quality, it has created a niche for itself.
Goodfellas Pizza is a FOFO (Franchise Owned, Franchise Operated) format, the franchisee is the owner of the point of sale but works according to the instructions of the vendor. This type of model gives franchisees more local manager control over their business but does require them to keep brand standards consistent.
Key Facts about Goodfellas Pizza Franchise
| Company Name: Goodfellas Pizza |
| Established Year: 1993 |
| Number of Outlets: 25+ (as of 2023) |
| Franchise Model: FOFO |
| Franchise Fee: $30,000 |
| Total Investment: $350,000 – $500,000 |
| Profit Margin: 18-25% |
| Space Required: 1,500 – 3,000 sq. ft. |
| Franchise Agreement Period: 10 years, renewable |
| Official Website: |
What Is the Cost of Goodfellas Pizza Franchise?
Opening a Goodfellas Pizza franchise involves multiple costs:
| Franchise Fee | $30,000 |
| Setup Cost | 200,000 to 300,000 |
| Initial Inventory | $20,000 – $30,000 |
| Equipment Cost | $100,000 – $150,000 |
| Royalty Fees | 6% of gross sales |
| Marketing Fees | 2% of gross sales |
| Working Capital | $50,000 to $100,000 |
| Miscellaneous Costs | $20,000 to $50,000 |
| Franchise Agreement Period | 5 to 10 years |
| Initial Investment | $350,000 to $500,000 |
Breakdown of Goodfellas Franchise Costs:
Franchise Fee: An initial investment fee of $30000 is required for a company interested in operating under the Goodfellas.
Royalty Fee: To support Goodfellas in the long term and ensure that its brand and products remain relevant to the market, it is necessary to provide a royalty of 6% of sales.
Marketing Fee: A marketing fee of 2% of the sales is used to cover expenses on the regional and national adverts.
Store Build-Out: Based on geographical area, the initial installation of the store such as store fixtures, preparation kitchen, facilities, and signs will go for between $200,000 and $300,000.
Inventory: The starting food procurement and storage equipment required to fill the kitchen cost approximately $30,000.
Miscellaneous Costs: Other costs include the cost of training, insurance, permit, and license which is estimated to be in a range of say $20000 to $50000.
Total Investment: To start the Goodfellas Pizza franchise requires an initial investment of between $350,000 to $500,000 including franchise fees, initial inventory, working capital, setup costs, and others.
A Pizza Shop Business: For-profit analysis of a Goodfellas Pizza Franchise in the USA.
The main areas of location, the performance of operations, and the level of market saturation are decisive for profitability. In general, Goodfellas Pizza franchises possess reasonable and stable gross and net profit margins.
| Monthly Revenue: $60,000- $120000 depending on the area of the country the business is situated. |
| Profit Margin: 18-25% |
| Average ROI: 3-4 years |
Adecoded premium input and New York-style pizza, in general, makes Goodfellas Pizza appealing and appealing hence endearing it to a clientele that is willing to spend more. The break-even analysis reveals that franchisees may generate high returns within 3 to 4 years.
Conditions for the Opening of Goodfellas Pizza Franchise
Financial Requirements:
Net Worth: $500,000
Liquid Assets: $150,000
Goodfellas seeks business people who are financially capable of satisfying all financial demands needed for the franchise business. Experience in the food service industry is desirable, but not required, for the applicants. ds on factors such as location, operational efficiency, and market demand. On average, Goodfellas Pizza franchises have healthy profit margins.
Requirements to Open a Goodfellas Pizza Franchise
Financial Requirements: Goodfellas looks for financially stable individuals who can meet the financial requirements of opening and operating the franchise.
Experience:
Although previous experience in food service is preferred, it’s not mandatory. Goodfellas assists the franchisees in training hence regardless of whether the person is a novice in the pizza market she or he can make it.
Goodfellas is very selective about people handing over the franchise since the passion for the brand as well as operation excellence is sought in candidates.
The space requirement for a Goodfellas outlet is one and a half thousand square feet at the very least. ability depends on factors such as location, operational efficiency, and market demand. On average, Goodfellas Pizza franchises have healthy profit margins.
Documents for Goodfellas Pizza Franchise
The permission from health department to ensure that all the foods sold meet all the set required hygienic standards.
Contract papers to seal the business relationship for Goodfellas Company.
If the franchise plans to sell beer or wine, then maybe a liquor license is needed depending on the franchise’s location and the laws of that particular area.
Make sure that the area is permitted for restaurants and food preparation businesses.
How to Open Goodfellas Pizza Franchise?
Official Website: Go to Goodfellas Pizza’s official website and complete the franchise inquiry form with your details and previously received experience.
Goodfellas needs to examine your application form and your qualifications financially or otherwise. If you meet the criteria, an invitation for the first meeting will be issued to you.
After the first review, Goodfellas will disclose the FDD that lists the fees contributions, and experiences of other outlets.
Visit a Goodfellas’ corporate or one of the chain stores or centers on a “Discovery Day”. This is your opportunity to speak with leadership come through a live working franchise and ask as many questions as you like.
You and the franchisors will have your negotiations where after, you shall be required to sign the franchise agreement which makes you one franchised business of Goodfellas Pizza.
Select a proper place and obtain all the required authorization and permission. In this case, Goodfellas will play a major role in helping with locations and designing the site.
Training: Complete an extensive training course which includes the skill of making pizzas and other related foods and customer relations and other business aspects.
Grand Opening: Once the store is constructed then when the staff is trained the store opens for business. There is always promotional support from Goodfellas for the products to guarantee a good marketing outcome.
Pros and Cons of Goodfellas Pizza Franchise
| Pros | Cons |
| Brand Recognition: Goodfellas is manufacturing a known product, which is extremely popular among consumers. | High Initial Investment: The initial costs vary between $350, 000 and $ 500, 000, which is relatively high for most investors. |
| Authenticity: The essence of the brand is to use quality ingredients and prepare the pizza the conventional way, unlike other pizza franchises. | Location Dependence: Like with any food service business, the key is location which determines the amount of revenues to expect. Inadequate selection of the sites to develop leads to low rates of sales. |
| Training and Support: Goodfellas provides an extensive training program as well as constant activity assistance. | Competition: There are a lot of players in this market, including national chains and independent operators. |
| Marketing Support: The marketing fee allows franchisees to tap into the national and or regional advertising funded by it. | |
| Strong Profit Margins: Overall, franchises’ profit margin is 18-25% consequently, a franchisee can count on the revenues within the period of 3-4 years. |
Market Analysis of Goodfellas Pizza Franchise in India
Competitive Landscape
Goodfellas Pizza would be operating in the pizza and fast-food industry of India, where strong players both international and domestic like Domino’s, Pizza Hut, La Pino’z, and a few more pizza outlets exist. Not only this, even fast food restaurants like McDonald’s, KFC, Burger King, etc also have tailored products according to the Indian taste buds.
Yet, being oriented to the specific New York pizza with the use of high-quality ingredients and certain recipes, Goodfellas may have a great chance to become a successful story since most consumers can easily get bored with the same ordinary kind of pizza.
Consumer Preferences
There has been growing concern with the quality, convenience, and value for money, especially amongst the Indian fast food consumers. Trends also include the increasing popularity of plain pizzas as well as the extraordinary tastes of different types of toppings.
These preferences can easily be addressed by Goodfellas Pizza through a variety of foods on pizza that will suit the Indians by introducing vegetarian varieties and also foods that are native to India. Also, the idea of introducing value meals and combo offers may appeal to a more diverse audience, including the young, who are more aware of cost savings in good value for their money.
Growth Potential
The current trend reveals that the fast food industry in India is on the right track due to factors like Urbanization, higher disposable income of the middle-income group, young population, and changing lifestyle. Pizza consumption is gradually on the rise, particularly among the working population and the growing middle class within the urban areas.
The general growth prospects for Goodfellas Pizza are large in India because of the brand appeal and quality of the product which will make the chain effective in catering for the Metropolitan cities as well as the expanding secondary cities that are showing a rising demand for such style foods. Expanding units in the malls, food courts and other busy areas may serve the same purpose of reaching out to more consumers for Goodfellas.
Challenges and Opportunities
Challenges:
There are a few risks that Goodfellas Pizza would encounter as soon as it plans to venture into the other country market such as high operating costs, price sensitivity in India, and stiff market competition with leading players with high brand awareness. Further, to cater to changing tastes and preferences in the market such as consumers now shifting towards vegetarian or even vegan diets this will also be required. Adherence to local food safety and hygiene laws will also help the company uphold Goodfellas’ quality standards to increase customers’ trust.
Opportunities:
Hence the following are some of the opportunities that Goodfellas Pizza can exploit, A young and increasing population in USA along with increased use of technological solutions offers potential opportunities for making orders online, delivery services, and interacting with the target audience via the Internet. It allows expanding the circle of consumers, as well as the creation of new unique flavors that could fit the local population’s preferences and adding Indian-inspired food options to the menu. Further, connections with well-known food delivery services could add potential customers to Goodfellas’ database and increase brand recognition nationwide.
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Conclusion
In conclusion, Goodfellas Pizza Franchise Cost, Profit & How to Apply in 2024. The business Goodfellas Pizza franchise opportunity is relatively good for those who wish to invest in the Food Service Industry, especially in the pizza industry. The minimum franchise purchase amount is between $350,000 and $500,000, and the business model has shown that attractive profit margins and ROI could be achieved within the 3-4 years period. Because of the high recalls of its brand as well as the support structures in place; the franchise is ideal for businessmen willing to venture into the pizza-selling business in the year 2024.
Goodfellas Pizza Franchise Image Gallery
FAQ
1. How much is the Goodfellas Pizza Franchise?
The cost of owning a Goodfellas Pizza franchise differs depending on the location and is between $ 350,000 and $ 500, 000 which includes the franchise fee cost of setting up and stocking.
2. How much profit on sales does a Goodfellas Pizza franchise make?
As for the Goodfellas Pizza franchise, the average net profit margin is in the range of 18-25%.
3. How can one get to secure a franchise for the Goodfellas Pizza restaurant?
Franchisees can contact the Goodfellas through its official website where they have provided a franchise inquiry form.
4. How much space do Goodfellas Pizza franchisees need?
This equals a minimum of 1,500 sq ft of space, with the best area being between
