About Figaro's / Nick-N-Willy's Franchise
Figaro's Italian Pizza, Inc.
is the franchisor of the Figaro's and Nick-N-Willy's pizza franchise concepts.
Franchisees operate retail food facilities offering a limited menu of pizzas, calzones, lasagna, salads, desserts, beverage products, and other Italian food items prepared using proprietary trade secret food products and processes.
Figaro's / Nick-N-Willy's Franchise Cost & Fees
Minimum Investment
$87K
Average Investment
$318K
Maximum Investment
$549K
| Fee Type | Amount | Notes |
|---|---|---|
| Initial Franchise Fee | $39,000 | One-time payment upon signing |
| Royalty Fee | 6% of Gross Receipts of gross sales | Ongoing; paid monthly |
| Marketing/Ad Fund | 3% of Gross Receipts (Branding Fee); may increase to 4% for non-compliance | National brand fund |
| Total Investment Range | $86,500 – $549,000 | Includes build-out, inventory, working capital |
The investment range of $87K–$549K reflects variability in build-out costs, store size, lease terms, and market. The combined royalty (6% of Gross Receipts) and marketing fee (3% of Gross Receipts (Branding Fee); may increase to 4% for non-compliance) are ongoing costs paid as a percentage of gross sales.
Investment Breakdown (Item 7)
| Item | Low | High |
|---|---|---|
| Initial Franchise Fee | $0 | $39,000 |
| Franchise Coordination Fee | $0 | $10,000 |
| Grand Opening Advertising | $0 | $12,500 |
| Lease Acquisition | $2,000 | $20,000 |
| Leasehold Improvements | $10,000 | $215,000 |
| Equipment & Fixtures | $20,000 | $150,000 |
| Opening Inventory | $5,000 | $8,500 |
| Employees | $500 | $3,000 |
| Training | $500 | $5,000 |
| Signs | $4,500 | $10,000 |
| Delivery Vehicles | $0 | $0 |
| Additional Funds (3 months) | $15,000 | $50,000 |
| Miscellaneous | $16,500 | $40,000 |
Additional Fees (Item 6)
| Fee Type | Amount |
|---|---|
| Transfer Fee | Greater of $16,000 or 2% of gross proceeds from sale |
| Renewal Fee | None (late renewal fee of $250/month if renewal not signed by deadline) |
| Audit Fee | Cost of audit plus interest on underpayment, estimated up to $20,000 |
| Local Advertising | 3% of Gross Receipts (can increase to 4%) |
| Cooperative Advertising | Up to 4% of Gross Receipts |
| Promotional Items | Cost-plus markup, estimated $1,000-$12,000/year |
| Multi-Area Marketing Programs | $800-$5,000/year |
| Late Fee for Reports/Payments | $50 per incident |
| Late Payment Interest | Up to 1.5% per month |
| Additional Training | $3,000-$7,000 |
| Additional Manager Training | $900/week per individual |
| Insurance Policies | $500-$8,000/year |
| Mystery Shopper Fee | Up to $1,200 |
| Cure Fee | $2,500 per breach |
| Operation in Case of Absence/Death | Up to $2,500/month |
| Operation in Case of Default | $400/day plus expenses |
| Supplier/Supply Approval | $6,000-$9,000 |
| Lost Operations Manual | $500 |
Training Program (Item 11)
| Detail | Information |
|---|---|
| Total Duration | Minimum of two six-day weeks (12 days) classroom and on-the-job training, plus 9-14 days on-site opening assistance |
| Classroom Training | 55 hours |
| On-the-Job Training | 59 hours |
| Training Location | Existing store designated by franchisor |
| Additional Training | 9-14 days on-site assistance during first 1-2 months of operation for first store; annual refresher programs not exceeding 4 days; manager training at $900/week per individual |
Territory Rights (Item 12)
| Detail | Information |
|---|---|
| Territory Type | Protected with exceptions |
| Exclusive Territory | No |
| Territory Size | One-mile radius from authorized store address |
| Description | Standard Figaro's or Nick-N-Willy's franchise receives a one-mile radius Designated Area from the authorized store address. Franchisor will not establish nor license another franchise of the same brand within the Designated Area while franchisee is not in default. However, franchisor reserves rights to: purchase or merge with competing businesses; operate within schools, airports, hospitals, military bases, sports complexes, grocery stores, hotels, and 100+ unit chains; sell through alternative distribution channels including Internet, catalog, and telemarketing. Schmizza outlets may operate within the Designated Area. Express, Co-Branding, and Retail Premises franchises normally have no geographic area. |
Renewal, Termination & Transfer (Item 17)
| Detail | Information |
|---|---|
| Initial Term | 10 years (negotiable from 5 to 20 years) |
| Renewal Term | Successive 10-year terms (negotiable from 5 to 20 years) |
| Renewal Fee | None (late renewal fee of $250/month if not signed by deadline) |
| Renewal Conditions | Must comply with all franchise agreement provisions; bring store into compliance with current standards; give timely notice of renewal (9-15 months before expiration); satisfy all monetary obligations; meet current training requirements; sign mutual general release; sign then-current franchise agreement form which may have materially different terms |
| Transfer Fee | Greater of $16,000 or 2% of gross proceeds from sale; reduced to $8,000 for management team or compliant franchisee transfers with no training needed; reduced to $500 for immediate family or affiliated entity transfers with no training needed |
| Transfer Conditions | Transferee must meet franchisor qualifications; successfully complete training; sign current franchise agreement; all sums owed must be paid; sign general release; franchisor has right of first refusal for 30 days; store must be open and operating before transfer |
| Termination for Cause | Non-curable defaults include: failure to commence business or complete training; material misrepresentation; felony conviction; unauthorized use of operations manual; abandonment for 5+ consecutive business days; surrender of control; understating fees by 2%+ totaling 3+ weeks more than twice; late reports on 2 occasions in 12 months; insolvency/bankruptcy; health/safety violations; failure to pay fees after 5-day notice. Curable defaults: 30-day notice and opportunity to cure for other breaches. |
| Non-Compete Period | 2 years after termination or expiration |
| Non-Compete Details | Franchisee may not directly or indirectly own or operate a business selling prepared food products similar to the System for 2 years within: the franchise premises; the Designated Area; a 10-mile radius of the Franchised Store; a 10-mile radius of any other System business; or within a reasonable distance of any location where franchisor could reasonably establish a territory or company store during the 2-year period. |
Operations & Supply (Items 8 & 15)
| Detail | Information |
|---|---|
| Owner-Operator Required | Yes |
| Participation Details | Each franchised store must be at all times under direct on-premises supervision of the franchisee or a trained and competent manager. Franchisee (or owner of 50.1%+ of any franchisee entity, or any general partner, or full-time manager) must devote full-time energy and best efforts to management and operation. Absentee ownership without express written consent is grounds for termination. This requirement may be waived for Express, Co-Branding, and Retail Premises franchises. |
| Required Suppliers | Trade Secret Food Products (proprietary pizza dough starter mix, pizza sauce spice mix, calzone spice mix) must be purchased from franchisor or designated supplier Roma. Pepsi-Cola Company is designated soft drink supplier. Signs must be purchased from franchisor-specified vendors. |
| Supply Restrictions | All menu items, food products, containers, packaging, uniforms, and other materials must conform to franchisor specifications. Estimated 85-95% of total purchases must be from specified or approved sources. |
| Franchisor Revenue from Suppliers | Approximately $147,200 in rebates (10.31% of total revenue of $1,427,490) in fiscal year 2021. Approximately 0% of total revenues from products purchased directly from franchisor. |
Financing (Item 10)
| Detail | Information |
|---|---|
| Financing Available | No |
| Description | Franchisor does not offer direct or indirect financing and does not guarantee notes, leases, or obligations. Franchisees are eligible for expedited SBA loan processing through the SBA Franchise Registry Program. |
Figaro's / Nick-N-Willy's Franchise Earnings — Item 19
Revenue Range
$62K – $1.3M
Sample Size
28 units
Past financial performance does not guarantee future results. Individual results will vary.
Figaro's / Nick-N-Willy's Litigation & Risk Flags
Clean Litigation RecordFigaro's / Nick-N-Willy's has no pending litigation actions listed in their FDD. There is also no bankruptcy history disclosed.
Litigation and bankruptcy data is sourced from Items 3 and 4 of the FDD. Always verify current status directly from the most recent FDD.
Figaro's / Nick-N-Willy's System Growth
Total Units
32
Franchised
32
Company-Owned
0
Figaro's / Nick-N-Willy's currently operates 32 franchised locations and 0 company-owned units. Unit count data is sourced from Item 20 of the FDD.
Unit History (Item 20)
| Year | Opened | Closed | Total |
|---|---|---|---|
| 2019 | 1 | 3 | 36 |
| 2020 | 1 | 5 | 32 |
| 2021 | 0 | 0 | 32 |
Transfers: 2 | Closures: 0
State Registrations
Registered in 23 states: CA, CT, FL, HI, IL, IN, KY, ME, MD, MI, MN, NE, NY, NC, ND, RI, SC, SD, TX, UT, VA, WA, WI
Franchisor Financials (Item 21)
Revenue
$1.4M
Figaro's / Nick-N-Willy's Franchise — FAQ
The total investment to open a Figaro's / Nick-N-Willy's franchise ranges from $86,500 to $549,000, per their Franchise Disclosure Document. This includes the initial franchise fee of $39,000. The investment covers build-out, inventory, equipment, signage, working capital, and other startup costs.
Figaro's / Nick-N-Willy's charges a royalty fee of 6% of Gross Receipts of gross sales, plus a 3% of Gross Receipts (Branding Fee); may increase to 4% for non-compliance contribution to the marketing/advertising fund. These fees are paid on an ongoing basis.
You can download the Figaro's / Nick-N-Willy's Franchise Disclosure Document free on this page. The FDD is a public document filed with state franchise registries. Always also request the current FDD directly from Figaro's / Nick-N-Willy's to ensure you have the most up-to-date version.
According to the Item 19 financial performance representation in their FDD, Figaro's / Nick-N-Willy's franchise owners report . This is based on a sample of 28 units. Past performance does not guarantee future results.
Figaro's / Nick-N-Willy's has been franchising since 1986. The FDD shows an investment range of $86,500-$549,000, a 6% of Gross Receipts royalty, and includes an Item 19 earnings disclosure. There is no pending litigation. Review the full FDD and contact current franchisees listed in Item 20 before making any investment decision.
The franchise fee is $39,000 and the total investment ranges from $86,500 to $549,000 depending on location size and market. Contact the franchisor directly for current net worth and liquid capital requirements, territory availability, and application details.
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Data Source & Disclaimer: This website is for informational purposes only. It is not an offer to sell or buy a franchise. This profile is based on publicly available FDD data sourced from state franchise registry filings. All information is for research purposes only and does not constitute legal, financial, or investment advice. Data may be outdated or contain errors. Always obtain the current FDD directly from Figaro's / Nick-N-Willy's and consult a qualified franchise attorney before making any investment decision. FranchiseOverview.com is operated by Franchising Compliance, LLC and is not affiliated with Figaro's / Nick-N-Willy's or any of its subsidiaries. To report an inaccuracy: info@franchiseoverview.com