Has the thought of Papa John’s net worth ever crossed your mind? Many are usually interested in knowing this value out of curiosity, while others might be potential investors. Whichever categories you fall under, you might be surprised when you discover the net worth of Papa John’s.
The company’s net worth is an estimated $2 billion, a value it generates from selling Pizza. Although Papa John started from a broom closet in Indiana, it boasts over 5,000 branches and 4,456 restaurants. You’ll find this pizza delivery restaurant in several places in the United States and other parts of the world.
What is Papa John’s?
‘Papa’ John Schnatter founded Papa John’s Pizza in 1984 in Jeffersonville, Indiana. John had to start by converting an old broom closet at the back of his father’s pub into a pizza business.
He sold his 1971 Z28 Camaro for $ 1600 and began selling pizzas to the customers of a local pub. In response to the demand for his pizzas, he moved his business from the closet to a new location next door. Soon, he came up with an original pizza dipping sauce which made him more popular.
After going public in 1993, the company opened its first 500 locations within a year. It opened 15,000 locations across the United States at such a fast pace within four years. Later in 2009, John repurchased his Camaro for $ 250,00, which he had previously sold to buy pizza equipment.
Papa John’s became the pizza sponsor of the NFL and Super Bowls in 2011. The company was also the official sponsor of the NFL in Canada, the United Kingdom, and Mexico. In 2012, Papa John’s became the official pizza partner of The Football League United Kingdom.
Papa John’s Net Worth
The estimated net worth of Papa John’s is $2 billion as of January 2021. When the company went public in 1993 with 500 outlets across the US, it became a multi-millionaire dollar industry.
Back then, John Schnatter, the former CEO, owned 30% of the company. Papa John’s restaurants can be found in over 5,300 locations worldwide. It also boasts of employing 16,000 people and generating $1.5 billion in annual revenue.
Conclusion
Like every other large and successful corporation, Papa John’s began on a small scale. It all started in 1984 when Schnatter, an ambitious entrepreneur, sold his favorite automobile for $1,600 to start his business. With $1.5 billion in yearly revenue, Papa John’s is now the third-largest pizza delivery business in the United States.
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