Company Overview - John's Incredible Pizza
The origins of John's Incredible Pizza date back to its founder's early days in the restaurant industry working at KFC. Increasing the size of its locations and obtaining financing were key components of the company's growth. John's has 14 locations, offers a mix of food and entertainment services, is headquartered in Rancho Santa Margarita (California), and has over $77.2 million in revenue (estimated).
John's Incredible Pizza
1. Origins & History
- The origins of John's Incredible Pizza involve the company's founder, John Parlet.
- John worked in the restaurant industry long before he opened John's Incredible Pizza.
- He started off in the restaurant business by working in-store at KFC and then proceeded to climb the corporate ladder within the company thereafter.
- A number of years later, he bought a steakhouse and later become the manager.
- Despite the steakhouse's success, he ultimately wanted to own a pizza restaurant instead, so in order to learn that pizza, he volunteered at an Italian restaurant.
- After gaining that Italian-food experience, he relocated to Ridgecrest, California, in 1972, and opened John's Pizza Parlor.
- Throughout the 16 years that followed, he tested out similar types of business ideas in nearby areas. Those business experiments that John tried out were instrumental in laying the groundwork for what would later become the John's Incredible Pizza business model.
- The specific idea for launching John's Incredible Pizza came in 1995. That year, John went to see "a friend who owned a 300-store chain of pizza and game restaurants."
- Enamored by that idea, John analyzed his friend's business that operated on the premise of providing more than pizza to customers. While John used that premise for inspiration, he also added his own unique spin on it and together, the result was John's Incredible Pizza.
- The original John's Incredible Pizza opened its doors in 1997 in Victorville, California. At that time, John had already been in the restaurant business for 25 years.
2. How the Company Grew
- One key way that John's Incredible Pizza grew was by progressively expanding the square footage of its locations.
- The company's first location in Victorville was 16,000 square feet. The second John's location (in Bakersfield) spanned 26,000 square feet and opened one year after (1998) the first location (1997).
- The third John's location (in Fresno) was 53,000 square feet and opened in 2000. That Fresno location then "became the model footprint" used for John's Incredible Pizza locations that would open thereafter.
- The company's founder (John Parlet) described his business approach as offering a mix of "the best pizza buffet with rides and games" which clearly has been popular among consumers due to the company's growth over 20+ years.
- A key financial move that the company made occurred back in 2013 when it "recapitalized debt in a $30 million deal." The investors who took part in that debt recapitalization were Kemper Corporation, Brookside Mezzanine Partners, and Praesidian Capital.
- John's did not give up any equity as part of that recapitalization deal and John Parlet kept his ownership of the company. The decision by the company to recapitalize its debt was made to focus on growing in the future, as John Parlet stated: "The recapitalization offers the 10-unit chain the right financial structure for future growth."
- In 2015, the company obtained "a $39.5 million term loan" in financing so that it could achieve its goals.
- John's Incredible Pizza has aggressively pushed to expand its footprint each year. The company's stated goal was that three new locations would be opened each year.
- The company's overall goal is to be among "the most recognizable brands in the industry for family dining and entertainment."
- Other important elements of the company's growth, as noted by John Parlet, are the fact that he has "surround[ed] himself with good people and persever[ed] through difficult situations."
- All John's Incredible Pizza locations are in the U.S. and there are 14 locations in total.
- The 12 California locations are in the following cities: (1) Carson; (2) Buena Park; (3) Westminster; (4) Montclair; (5) Riverside; (6) Victorville; (7) Bakersfield; (8) San Diego; (9) Fresno; (10) Modesto; (11) Newark; and (12) Roseville.
- The two locations outside of California are in Beaverton, Oregon, and Las Vegas, Nevada.
4. Services Offered
- The following are the services that John's Incredible Pizza offers: (1) Buffets/food; (2) "Over 100 Games, Amusement Park Rides and More;" (3) Birthday parties; (4) Private events; (5) Field trips; (6) Fundraisers; (7) "Eat & Play Tours;" and (8) Business events.
- John's Incredible Pizza is headquartered in Rancho Santa Margarita, California.
- Estimated revenue for John's Incredible Pizza totals over $77.2 million.
- Back in 2013, John's Incredible Pizza reported annual revenue of approximately $56 million.
We began our research by reviewing the John's Incredible Pizza website. Therein, we compiled information about the company's history, how it grew into such a successful business, its locations, and the services it offers. We then looked for additional information about how the company has grown over the years in articles published about the company. Examples of sources that published those articles that we reviewed were Nation's Restaurant News and Citizens Bank. Lastly, the revenue information we found came from an article published by the Orange County Business Journal and the comprehensive company database BuzzFile.