Pizza Factory has 110 locations and focuses on smaller-city locations, rather than major metropolitan areas.
On top of its fourth decade in franchising, Pizza Factory has another milestone to celebrate this year: Wonder Franchise bought the 110-unit franchise.
Wonder, formed in 2023, is the franchise investment leg of Tucker’s Farm Corporation. Pizza Factory CEO Mary Jane Riva said Wonder stood out to her from the get go.
“They’re down to earth, young and more than anything I think the biggest thing was they took the time to understand our culture and to understand what Pizza Factory was really about,” Riva said.
Pizza Factory wanted a partner to help modernize and improve the brand without taking away from its four-decade-long legacy.
Wonder CEO Adam Lewin said the firm’s goal is to find franchisors that are “great businesses and great value.” Casting that wide of a net makes for more opportunities for Wonder and it allows the company to find brands across all sectors.
Mary Jane Riva, CEO of Pizza Factory
“We’re always looking for brands that have been around a while and have a good underlying model,” Lewin said. “We’re not coming in to fundamentally change the business. We are looking to find brands that we can partner with and, through some operational efficiency and improvement, help them incrementally.”
Shared values and culture are another important part of Wonder’s vetting process. And the admiration, Riva said, is mutual.
“We genuinely like each other and we enjoy working together,” she said. “When you are interviewing people to join you in the journey of something that you’ve been doing for years, that means a lot to you. … I’m having a great time.”
Wonder’s other brand is Christmas Decor, which it acquired in November. The firm’s parent company Tucker’s Farm is a former minority owner of VIO Med Spa, which it sold in September.
The initial investment required to buy a Pizza Factory franchise ranges from $274,000 to $630,000, including the $25,000 franchise fee. In an ocean of pizza brands, Pizza Factory makes an effort to stand out with ingredients made in house, including hand-tossed dough and its signature sauce, Riva said.
The pizza category has giant players like Domino’s or Pizza Hut, with thousands of stores worldwide. But closer in size to Pizza Factory are Pizza Inn, which in 2023 did $115 million with 156 units, and Ledo Pizza, which ended 2023 with 118 restaurants and $140 million in system sales.
Following this acquisition, change isn’t on the horizon for Pizza Factory. Riva, who will remain at the helm of the franchise, said she’s focused on better serving franchisees—and she’ll use Wonder’s resources to do so.
Pizza Factory focuses primarily on smaller-city endeavors, rather than major metropolitan areas like Los Angeles.
Adam Lewin, CEO of Wonder Franchise
“We have models that work there, but we think the core of our business is being a part of the community and having whether it’s a great manager or a great owner-operator really be engaged with the community,” Lewin said. “We think we’re uniquely well positioned to serve a lot of these smaller towns where you have this community pizza place that people love going to.”
Community involvement is valuable to Pizza Factory. Most of the brand’s franchisees sign deals initially because of that factor, Riva said.
“We’re really looking for franchisees that understand that it’s really not just about opening your doors and expecting everybody’s going to walk in and you’re going to be the No. 1 store,” Riva said. “Like anything in life, you have to earn it and it’s hard work. You have to be ready for that.”