Fifty-two years ago, Michael and Marian Ilitch put $10,000 in life savings into opening a small pizza shop in suburban Detroit. Today, there are thousands of Little Caesars pizza places across the globe.
When Little Caesars was first launched, the idea of a takeout pizza joint was an innovation. Michael added the two-for-one pizza deal in 1979 that was popularized with the catchphrase ''Pizza! Pizza!'' uttered by a small cartoon Caesar. Michael built a conveyor oven, so that he could have a constant stream of hot pizzas ready for customers.
Little Caesars estimates that startup costs are between $193,050 to $619,500. A new owner needs to have a net worth of $150,000, at least $50,000 in cash, and be able to obtain financing to cover the remaining costs.
Franchisees took out 103 SBA-backed loans and only one loan failed.
