Pie Five

Last updated

Pie Five Pizza Company
Pie Five Pizza
Company type Subsidiary
IndustryFast Casual
FoundedJune 2, 2011;12 years ago (2011-06-02) in Fort Worth, Texas [1]
Headquarters The Colony, Texas, United States
Number of locations
33 (Jul 2021)
Area served
United States
Key people
  • Brandon Solano, CEO RAVE Restaurant Group
  • Mike Burns, COO RAVE Restaurant Group
  • Douglas Kwong, VP of Marketing RAVE Restaurant Group
  • Aaron Archuleta, Director of Operations Pie Five Pizza
ProductsHandcrafted personal pizza, fresh salads, desserts, drinks
Parent Rave Restaurant Group
Website piefivepizza.com

Pie Five Pizza is an American fast casual restaurant chain specializing in personal pizza. The brand is owned by Rave Restaurant Group, which also owns Pizza Inn. As of July 2021, Pie Five operates 33 restaurants[ citation needed ] with locations in the following states: Arkansas, California, Illinois, Iowa, Kansas, Kentucky, Mississippi, Missouri, Oklahoma, Oregon, and Texas. [2]

Contents

Concept

Pie Five was named for the concept of preparing a customized pizza in five minutes. [1] The menu offers standard and made-to-order personal pizzas, salads, calzones, bread, and dessert. Many locations serve beer.

History

Original logo 33456 P5 Logo.png
Original logo

On June 3, 2011, the company Pizza Inn opened the first Pie Five Pizza in Fort Worth, Texas. [3] [4] They had five locations within the Fort Worth area by the end of the year, and as of January 2015, they had 31 locations. [4]

Former PepsiCo and Yum! Brands executive Randy Gier joined the company in 2012. He was CEO until 2016. [5] [6]

On January 9, 2015, the parent company Pizza Inn Holdings (ticker symbol: "PZZI") was rebranded as a portfolio company named Rave Restaurant Group (ticker symbol: "RAVE") as Pie Five Pizza locations began to increase. [4]

In March 2017, Pie Five announced that all but one of the nine Chicago locations were closing, with only one more opening. Pie Five closed several midwestern stores in March 2017, including two locations in the Twin Cities metro in Eden Prairie and Woodbury and several Chicago area locations, to focus on its other markets. Later that year, they opened their first West Coast store in San Francisco, California.[ citation needed ]

Three locations opened in south central Pennsylvania in early 2017, before converting to a regional franchise and ultimately closing in early 2018. [7] [8]

In October 2019, RAVE Restaurant Group announced that its board of directors has named Brandon L. Solano as chief executive officer. [9]

In end-of-quarter/fiscal-year reporting as of October 2020, Pive Five comparable store retail sales had decreased 15.7 percent from the previous year, with most of the 42 locations said to be using third-party delivery services. [10]

A January 2021 analysis of the chain's struggles identified reasons such as a highly competitive market, very fast location growth and franchising, accustomizing pizza customers to the fast-casual individual experience, mixed reviews at individual locations that may have kept customers from returning, poor marketing investment, potential impending Nasdaq delisting, and a 2018 credit card security breach. [11]

In March 2021, Pie Five had announced a new Panzano Pan Crust. The company says it is uniquely positioned against its competitors to make this product because of the types of ovens they use. [12]

Awards

Pie Five Pizza is considered a pioneer of the first fast casual pizza category and has twice been named among Fast Casual's Top 15 "Movers & Shakers" (2013/2014). Pie Five has also been recognized as a 2012 Hot Concepts winner [13] by Nation's Restaurant News and one of "10 Hot New Restaurant Chains from Established Brands" [14] by Forbes.com.

See also

Related Research Articles

<span class="mw-page-title-main">Pizza Hut</span> American multinational restaurant chain

Pizza Hut, LLC is an American multinational pizza restaurant chain and international franchise founded in 1958 in Wichita, Kansas by Dan and Frank Carney. The chain, headquartered in Plano, Texas, operates 19,866 restaurants worldwide as of 2023.

<span class="mw-page-title-main">Yum! Brands</span> American multinational fast food corporation

Yum! Brands, Inc., formerly Tricon Global Restaurants, Inc., is an American multinational fast food corporation listed on the Fortune 1000. Yum! operates the brands KFC, Pizza Hut, Taco Bell, and The Habit Burger Grill, except in China, where the brands are operated by a separate company, Yum China. Yum! previously also owned Long John Silver's and A&W Restaurants. The company was created as a spin-off of PepsiCo in 1997.

<span class="mw-page-title-main">Chuck E. Cheese</span> US arcade / themed pizza entertainment chain

Chuck E. Cheese is a chain of American family entertainment centers and restaurants founded in 1977 by Atari's co-founder Nolan Bushnell. Headquartered in Irving, Texas, each location features arcade games, amusement rides and musical shows in addition to serving pizza and other food items; former mainstays included ball pits, crawl tubes, and animatronic shows. The chain's name is taken from its main character and mascot, Chuck E. Cheese. The first location opened as Chuck E. Cheese's Pizza Time Theatre in San Jose, California. It was the first family restaurant to integrate food with arcade games and animated entertainment, thus being one of the pioneers for the "family entertainment center" concept.

<span class="mw-page-title-main">Fazoli's</span> American-Italian fast food company

Fazoli's System Management, LLC., doing business as Fazoli's, is an American fast casual restaurant chain headquartered in Lexington, Kentucky. It was founded in 1988 and is now owned by FAT Brands. As of September 2023, there are 211 Fazoli's located nationwide. The restaurant chain specializes in Italian-American cuisine and dishes.

<span class="mw-page-title-main">Sbarro</span> American pizzeria chain

Sbarro, LLC is an American fast food restaurant that specializes in New York–style pizza sold by the slice and other Italian-American cuisine. In 2011, the company was ranked 15th in foreign sales among U.S.-based quick-serve and fast-casual companies by QSR Magazine. In 2008, Sbarro was rated the No. 1 Quick Service Restaurant in the Italian segment by Entrepreneur magazine. However, diners and critics have criticized the quality of the food, with some suggesting a link between food quality and the company's two bankruptcies. Sbarro has over 600 locations in 28 countries. Sbarro stores are located in shopping malls, airports, service areas, and college campuses, as well as in The Pentagon, American naval bases, and casinos.

<span class="mw-page-title-main">Pizza Inn</span> American pizza chain

Pizza Inn is a Dallas-based restaurant chain and international food franchise, specializing in American-style pan pizza, pasta, and side dishes, owned by Rave Restaurant Group.

<span class="mw-page-title-main">Daphne's Greek Cafe</span>

Daphne's Greek Cafe or, Daphne's California Greek is an American fast-casual Greek restaurant operating in California. The restaurant name refers to Daphne of Greek mythology whom the god Apollo desired.

<span class="mw-page-title-main">Marco's Pizza</span> American pizza restaurant chain

Marco's Pizza, operated by Marco's Franchising, LLC, is an American restaurant chain and interstate franchise based in Toledo, Ohio, that specializes in Italian-American cuisine. The first store was opened in Oregon, Ohio, on Starr Avenue. It was founded by Italian immigrant Pasquale "Pat" Giammarco on February 18, 1978.

<span class="mw-page-title-main">Shane's Rib Shack</span> American fast casual BBQ franchise

Shane's Rib Shack is an American fast casual BBQ franchise, serving slow-cooked baby back ribs, hand-chopped chicken and pork, and Southern style side dishes. As of January, 2024, they are located in eight states, with most of their restaurants located in the state of Georgia.

<span class="mw-page-title-main">Your Pie</span> Restaurant in the United States

Your Pie is an American fast-casual pizza concept, that was started in Athens, Georgia in 2008 by Drew French, and operates as a restaurant franchise with 70 locations across 19 states. Your Pie has customizable 10-inch pizzas, pasta bowls, and salads. The restaurant uses brick ovens to cook their pizzas. Gelato, craft beer and wine are also available.

<span class="mw-page-title-main">The Habit Burger Grill</span> American fast casual restaurant chain

The Habit Burger Grill is a California-based fast casual restaurant chain that specializes in chargrilled hamburgers. The company also sells other typical fast-casual fare. It was founded in 1969 at Santa Barbara, California, and its headquarters are in Irvine, California.

<span class="mw-page-title-main">MOD Pizza</span> American fast-casual pizza chain

MOD Pizza is an American fast-casual pizza restaurant chain based in Seattle, Washington. Founded in 2008, MOD has more than 560 locations as of December 2023 in the United States and two locations in Canada.

<span class="mw-page-title-main">Dickey's Barbecue Pit</span> American barbecue restaurant chain

Dickey's Barbecue Pit is an American family-owned barbecue restaurant chain based in Dallas, Texas, and is a subsidiary of Dickey's Capital Group.

<span class="mw-page-title-main">Blaze Pizza</span> American fast-casual pizza chain

Blaze Pizza is a Pasadena, California–based fast-casual pizza restaurant chain. Founded in 2011 by Elise and Rick Wetzel of Wetzel's Pretzels, the chain is known for serving made-to-order pizzas.

Mooyah is an American fast casual restaurant chain headquartered in Plano, Texas. The chain reached over 100 locations in 20 U.S. states and nine countries in 2016 in North America and the Middle East. They specialize in hamburgers, french fries, and shakes. They are known for their beef hamburgers which use Angus beef and their French-fries.

<span class="mw-page-title-main">Pieology</span> American pizza restaurant chain

Pieology Pizzeria is a Tustin, California-based pizza chain within the fast-casual dining restaurants category. Founded in 2011 by Carl Chang, the brother of former tennis player Michael Chang, Pieology's mission is to "turn one of America's favorite food into an affordable and interactive experience". Pieology's main rivals are Blaze Pizza and MOD Pizza. By October 2018, Pieology had a single unit in Mexico plus approximately 140 units in 23 American states and territories with more than half of those restaurants located in the state of California.

Rosati's Authentic Chicago Pizza, doing business as Rosati's Pizza, is an American casual dining restaurant chain specializing in Chicago-style pizza. Its headquarters is in Elgin, Illinois. There are more than 200 locations across the United States, with more than a third of them in Illinois. Rosati's has over $211 million in revenue and was founded in 1926 by Saverio Rosati at the corner of Pulaski and Madison in Chicago's west side. That location closed down and in 1964 reopened in Mount Prospect, IL. In 1995 Saverio's five sons, Fred, Richard, Al, Bill and Ronald grew the company to be the fourth largest pizza chain in the Chicago area behind Pizza Hut, Domino's and Little Caesars, in 2018 they were listed as number 21 on Pizza Today's list of the top 100 pizzerias.

References

  1. 1 2 "Company". Pie Five Pizza. Retrieved August 3, 2020.
  2. ↑ "Locations". Pie Five Pizza. Retrieved July 2, 2021.
  3. ↑ Thompson, Steven R. (September 20, 2011). "Pizza Inn to expand Pie Five concept". Dallas Business Journal . Retrieved December 30, 2020.
  4. 1 2 3 "Pizza Inn parent becomes Rave Restaurant Group as sister brand, Pie Five, grows". Dallas News . January 9, 2015. Retrieved December 30, 2020.
  5. ↑ Hunter, Glenn (March 2016). "A Tale of Two Pies". D Magazine. Retrieved January 18, 2021.
  6. ↑ Kezar, Korri (July 21, 2016). "Rave Restaurant Group names interim CEO as top exec steps down". www.bizjournals.com. Retrieved January 18, 2021.
  7. ↑ O'Connor, David (April 10, 2017). "Route 30 location first of two York County locations to open in early 2017". Central Penn Business Journal. Retrieved September 29, 2020.
  8. ↑ Machcinski, Anthony J. (February 12, 2018). "Six months after debut, Willy's Originals closes last pizza shops in York, Chambersburg" . York Daily Record. Retrieved September 29, 2020.
  9. ↑ Inc, RAVE Restaurant Group. "RAVE Restaurant Group, Inc. Names Brandon Solano CEO". www.prnewswire.com (Press release). Retrieved January 18, 2021.{{cite press release}}: |last= has generic name (help)
  10. ↑ "Q4 revenues down near 40% at Pie Five, Pizza Inn". Fast Casual. October 1, 2020. Retrieved January 28, 2021.
  11. ↑ "Here's Why Pie Five Is Struggling To Stay In Business". Mashable . January 21, 2021. Retrieved January 30, 2021.
  12. ↑ "Pie Five Pizza Adds Craft Panzano Pan Pizza to Its Menu". www.prnewswire.com (Press release). Retrieved April 8, 2021.
  13. ↑ "NRN names 2012 Hot Concepts winners" . Nation's Restaurant News. October 25, 2012. Retrieved July 28, 2012.
  14. ↑ "10 Hot New Restaurant Chains from Established Brands". Forbes. Archived from the original on December 20, 2018.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.