Incredible Pizza Co. inks NASCAR sponsorship deal

The Springfield-based pizza parlor and family entertainment company announced March 31 that it had signed a 20-franchise deal with North Carolina investors Tony and Bryan Mullet.

The deal is not the largest the company has signed – Houston-based French Investments Inc. plans to open 30 stores by 2018, while Mexican franchisee Gonzalo Barrutieta is opening 20 stores south of the border.

But the deal with the Mullet brothers, who also own NASCAR racing team CJM Racing, may be Incredible Pizza’s most complicated.

Per the agreement, Incredible Pizza owner Rick Barsness and partners are investors in CJM’s franchise locations, which carry an estimated total price tag of $100 million.

The investors will take up to half of their profits from the stores and use the money to sponsor CJM’s NASCAR Nationwide Series vehicle, driven by Jason Keller. Incredible Pizza Co. also has a management deal to run the stores and a construction management agreement to build them.

CJM, in return, has agreed to take half of its profits and donate them to the Incredible Pizza Charitable Foundation, which funds Christian ministries around the world.

“I’ve worked on a lot of projects, but this is one of the more complex ones to get your arms around,” said Incredible Pizza Franchise Development Director Scott Axon, who also is an investor in the deal.

Higher purpose

Racing team co-owner Tony Mullet, who was looking for an investment opportunity with his brother after they sold a previous business, said Incredible Pizza’s Christian values system was a big draw.

“What we’re trying to establish with our race team is the same thing they’re trying to accomplish with Incredible Pizza Co.,” Mullet said.

“It felt like, on all fronts, everything lined up,” he added.

CJM stands for Christ Jesus Ministries. The brothers have opened several churches in their home state of Ohio, as well as an outreach center in their current base of Mooresville, NC.

Barsness said he has been a NASCAR fan since he was a kid.

“Some dads take their kids hunting and they become hunters,” he said. “My dad took me to NASCAR, and I became a NASCAR fan. I didn’t know any other sport. I wanted to get involved one way or another.”

The Incredible Pizza brand first appeared on the No. 11 car during the March 2 Nationwide race at Las Vegas, and Axon said the company has big plans for the team.

“We certainly think that with this additional investment in the team, we’ll have no problem finishing in the top 10 or the top 5 in the Nationwide series this year,” Axon said.

Driver Keller currently sits at No. 14 in the season standings in the Nationwide series, considered the top “minor league” circuit in NASCAR, just below the Sprint Cup.

“Our plan is to build a consistent Top 5 Nationwide team … but we will be in the (Sprint) Cup in five years” Axon said.

High Gear

As for the new Incredible Pizza franchise stores, located in Kentucky, Tennessee, the Virginias and the Carolinas, the plan is just as aggressive.

Axon said the goal is to have stores open in three markets before year’s end, with a goal of three stores a year for the remainder.

The 20 CJM stores bring the total of planned Incredible Pizza facilities to 113 – 25 corporately owned stores and 88 franchise locations. There are 14 currently open.[[In-content Ad]]