ORLANDO Fla. Fazoli’s Inc., franchisor of the namesake fast-casual pasta chain, is reportedly looking to sell or sublease at least nine units in Florida as part of a shift in its franchising strategy.
The Orlando Business Journal reported Monday that the franchisor intends to refranchise company-operated units outside of the greater Louisville, Ky., area. The Florida units are apparently company-run.
The story did not indicate whether the nine stores in the Orlando region might be sold to franchisees. The article described the units as “up for grabs,” and said Fazoli’s is looking specifically to sell or sublease the properties.
The Journal quoted a local real estate office as saying the rents on the properties ranged from $30,000 to $115,000 per year.
Fazoli’s, which operates or franchises about 286 units, is a holding of Sun Capital Partners Inc., a private-equity firm based in Boca Raton, Fla.