The Market Place owner and CEO, Luke Black, and his family.
The brand is calling for franchise owners in the Carolinas and nationwide to join in on the brand’s ground-floor franchise expansion.
Pinehurst, NC (RestaurantNews.com) The Market Place, a family owned and operated restaurant known for its gourmet sandwiches, iced tea spiced with cloves, and an experience that’s “Not Just a Sandwich”, is rolling out a franchise opportunity across the Carolinas and nationwide for the first time in its 40+ year history.
“This is an absolutely phenomenal opportunity for potential franchisees to invest in, because they are on the ground floor of a company that has big hopes and dreams for itself and, more importantly, for the success of the franchisees,” said Luke Black, owner and CEO of The Market Place. “Along with that, the startup cost can be as low as $150,000 and the profit margins are high — especially for a restaurant.”
Black shares that he and his team will work hard to keep costs low for their franchisees, including fee flexibility for select franchisees as a first movers advantage.
“We as a company will work diligently to get franchisees into spaces that were existing restaurants with low construction cost so they can start out as profitable as possible and, in return, can open more and more locations, because a franchisee with multiple locations is the biggest compliment to me as a franchisor,” he said. “ We love the idea of Multi-Unit deals because it is cheaper for the franchisee upfront and, with our low build out cost, much more affordable to do MUD than other franchises.”
Black, who purchased the company from his mom in 2020, said that he knew right away that The Market Place would be the perfect opportunity for entrepreneurs to grow on their own.
“When I purchased, franchising was already on my mind because The Market Place is such an easy model to duplicate. Ultimately, what led me to make the decision to franchise was the growth we had even amidst a pandemic,” he said. “We grew our sales 42% in 2021 and that is when I knew that if the business can withstand something like that, then we could franchise and provide businesses to people that need sustainability and would never have to be worried about losing their jobs ever again.”
The Market Place boasts an extensive menu of homemade and signature dishes. Franchisees gain all proprietary recipes, branding, and several other key areas of support.
“We are a family owned and operated company so franchisees will deal with me directly, and I will be there to support them in anything that they need,” said Black. “My goal is to create a franchise business that one or all of my three daughters can be a part of as they grow up, they can learn entrepreneurship, and work to be self-sufficient and create generational wealth for years to come. I want them to see how rewarding this all is. What better way to show them than making franchisees happy because they are so successful.”
Black, who is a North Carolina native and comes from a deep family history in the area, is seeking to add new franchisees right away within North Carolina and South Carolina, but is open to other locations. According to Black, The Market Place will do best in mid to high income markets and is an excellent addition to college towns.
“Location, location, location is huge. Raleigh, like the Cameron Village and NC State areas, Cary, Apex, Chapel Hill, Charlotte, Sanford, Boone, Asheville, and Wimlington, North Carolina or Greenville, Columbia, and Myrtle Beach, South Carolina are all examples of very strong markets for our concept,” stated Black. “We aren’t against any areas, though, by any means.”
The Market Place team is seeking to add new franchise partners at a safe pace, creating a network of franchises that are built to last and sustain any economic conditions. The future plan, says Black, is to be on par with some of the larger national competitors.
“We are here to support our franchise partners and make them successful, so much so that they own multiple Market Places and are the happiest they’ve ever been,” said Black. “My hope is for our franchisees to be even more successful than our flagship store because the backbone of a successful franchise company are happy and successful franchisees.”
To learn more information about The Market Place and to get started with you own restaurant, visit www.themprestaurant.com or email Luke Black at [email protected].
About The Market Place
The Market Place is a North Carolina-based restaurant where everyone is treated like family the moment they walk through the doors. Known for its gourmet sandwiches, delicious homemade fare, iced tea spiced with cloves, and experience that’s “Not Just a Sandwich”, The Market Place takes pride in making each and every visit unforgettable. Enjoy a hometown vibe with friendly, professional service all at an affordable price. Catering, online ordering, and event space are available. Learn more about The Market Place at www.themprestaurant.com.
Source : RestaurantNews