Papa Johns 2001 Annual Report Download - page 20

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16
International Franchised Papa John’s Restaurants
Number of
Restaurants
Alaska..................................................................................................................... 3
Canada.................................................................................................................... 5
Costa Rica .............................................................................................................. 9
Guatemala .............................................................................................................. 8
Hawaii .................................................................................................................... 15
Honduras ................................................................................................................ 4
Mexico.................................................................................................................... 29
Puerto Rico............................................................................................................. 9
Saudi Arabia........................................................................................................... 13
Venezuela............................................................................................................... 20
United Kingdom..................................................................................................... 15
Total International Franchised Papa John’s Restaurants............................... 130
Effective January 1, 2001, for restaurant unit purposes, “domestic” operations includes only those units
located in the contiguous United States.
Most Papa John’s restaurants are located in leased space. The initial term of most restaurant leases is five
years or less with most leases providing for one or more options to renew for at least one additional term.
Virtually all of our leases specify a fixed annual rent. Generally, the leases are triple net leases, which
require us to pay all, or a portion of the cost of insurance, taxes and utilities. Certain leases further
provide that the lease payments may be increased annually, with a small number of escalations based on
changes in the Consumer Price Index.
Approximately 145 Company-owned restaurants are located in buildings we own on land either owned or
leased by us. These restaurants range from 1,200 to 2,200 square feet. Eleven of the restaurants are
located in multi-bay facilities we own. These multi-bay facilities contain from 2,800 to 5,000 square feet,
and the space not utilized by the Papa John’s restaurant in each facility is leased or held for lease to third
party tenants.
We have 218 restaurants located in the United Kingdom (190 franchised and three Company-owned
Perfect Pizza restaurants and 10 Company-owned and 15 franchised Papa John’s restaurants). In addition
to leasing the 13 Company-owned restaurant sites, we lease and sublease to franchisees 170 of the 205
franchised restaurant sites. The initial lease terms on the Company and franchised sites are generally 10 to
15 years. The initial lease terms of the franchisee subleases are generally five to ten years.
Information with respect to our leased QC Centers and other facilities as of December 30, 2001 is set
forth below.
Facility Square Footage
Jackson, MS 30,000
Raleigh, NC 27,000
Denver, CO 32,000
Phoenix, AZ 57,000
Des Moines, IA 31,000
Rotterdam, NY 45,000
Portland, OR 37,000
Pittsburgh, PA 52,000