Franchising

Capriotti's inks 12-unit Florida deal

December 29, 2020

Las Vegas-based Capriotti's Sandwich Shop is opening 12 locations in the Miami area over the next decade. Hotel developers and father-son duo, Marco and M.J. Roca of Reveille Hospitality, are spearheading the development, which includes a mixture of brick-and-mortar units and ghost kitchens, according to a company press release.

Marco Roca Sr. has completed more than 1,500 hotel deals throughout his nearly 40 years of industry experience, while M.J. (Marco Junior) brings extensive real estate finance knowledge and a deep understanding of the South Florida real estate markets. While the recently signed deal includes 12 Capriotti's locations, the goal is to achieve 30x30: 30 open locations by 2030.

"We're starting with Miami because the area is already incredibly receptive to gourmet hospitality culture," said Marco Roca Sr., who was the former chief development officer for both Hard Rock Hotels and Caesars Entertainment. "Miami is quickly growing into a global gateway, and we believe it's the perfect match for Capriotti's sophisticated yet affordable sandwiches and menu."

The Las Vegas-based brand has inked deals for five franchised locations for a total of seven under development. With goals to open 15 more shops by the end of 2020, Capriotti's has 112 open locations and more than 180 in progress.

"The Capriotti's brand is in a position to grow, even amid a pandemic, and that's a testament to our value proposition to both loyal CAPaddicts and franchise partners," David Bloom, VP of Franchise Development, said in the release. "We're so grateful to have connected with Marco and M.J. to capitalize on our nationwide growth momentum and bring it to Southern Florida."

With the top 25% of shops averaging $1.1 million average unit volume and an initial average investment of $376,000 with high growth potential, Capriotti's is a profitable and rewarding franchise investment, Bloom said.