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Italian Ices Franchise Case Study

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Mr. Armetta is a graduate of St. John’s University where he obtained a BS in Accounting. He has held various positions with financial institutions and was last employed by JP Morgan Chase. Upon leaving a successful career at JP Morgan Chase in 2002 as an associate in Chase Auto Finance Financial Management Dept, Mr. Armetta committed his full time efforts to his Retail business, which was fully operational since 2001. In 1999, Mr. Armetta made a major investment in excess of $300,000 at 623 Horseblock Rd, Farmingville with the purchase of property, required build out and franchise fees. Since opening in 2001, the business has produced annual revenues of approximately $300,000. The Ralph’s Italian Ices Franchise has over 80 Franchisees in the New York metropolitan area, with a significant foothold in Nassau and Suffolk Counties. Mr. Armetta’s store operates with an average of 10 employees from beginning of March to the middle of December and is consistily one of the top revenue Franchisees. In 2011, Mr. Armetta developed vacant land in Selden, New York and constructed a 2,000 sq. ft. facility to operate a second location as a Ralphs Italian Ices franchisee. In January of 2012, the franchise business and building were…show more content…
Armetta's received approval to Demo his existing building purchased in 1999 and reconstruct a 2,000 sq ft facility to operate a Ralphs Ices and Bagel Shop at 623 Horseblock Road, Farmingville. Although construction started in November of 2014 with a projected reopening in April of 2015, due to winter weather condition construction, was delayed and restarted in April and completed July of 2015. To date sales have remained strong and the business is in full operation. The construction of the bagel store has started and is projected to open the early part of 2016. Mr. Ametta will operate and own 100% of the company. In also should be noted the Mr. Armetta co owned and operated a successful Delicatessen from 2003 and sold in
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