Romeo’s Chief Franchising Officer, Ryan Rao, was highlighted by 1851 Franchise in their “Franchising Development Players 2021” series. In the interview, 1851’s Chris LaMorte asked Ryan a series of questions about his role here at Romeo’s Pizza, how he got involved in franchise development and how he and the Romeo’s Team plan to continue taking the business to new heights in 2021.
During the interview, Chris LaMorte asks how COVID-19 has impacted Romeo’s business and growth strategy. Rao answers, “I think like anything else, COVID has either positively impacted your business or negatively impacted your business. I don’t see much in between.
Sophisticated franchisees are taking a look at two things. One is consumer behaviors. Are consumer behaviors going to stay as they are today? Or will consumers shift back to how they were behaving before COVID? If so, I think there’s a large opportunity in the acquisition market right now, both for new territories, and distressed assets of brands and concepts negatively impacted by COVID.
On the other side is, if your concept is doing really well, it’s an attractive time to continue to bring on new quality franchisees in the system, especially if it’s a retail concept. We’re seeing a lot of opportunity to negotiate from a real estate perspective on better terms than we saw before.”
The full interview is available on 1851 Franchise’s website. Thank you to the team at 1851 Franchise for include us in the Franchise Development Players series.