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MOD Pizza

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MOD Super Fast Pizza LLC
MOD Pizza
Company typePrivate
IndustryRestaurants
GenreFast casual
Founded2008; 17 years ago (2008) in Seattle, Washington
Founders
  • Scott Svenson
  • Ally Svenson
  • James Markham
Headquarters
Bellevue, Washington
,
United States
Number of locations
500+[1] (2021)
Areas served
  • United States
  • United Kingdom (until 2020)
  • Canada
Key people
  • Scott Svenson (Executive Chairperson)
  • Ally Svenson (Protector of the Purpose)
ProductsPizza, Salad
Revenue$398 million (2019)[2]
ParentElite Restaurant Group (2024-present)
Websitemodpizza.com

MOD Pizza is an American fast-casual pizza restaurant chain based in Seattle, Washington.[3][4] Founded in 2008, MOD has more than 460 locations as of December 2024 in the United States and 2 locations in Canada.[5][6]

Concept and products

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The company's name is an acronym which stands for "Made on Demand." MOD Pizza operates as a build-your-own style restaurant, where the food is made in front of the customer on-demand.[7]

The interior of a MOD Pizza restaurant, pictured in 2014

History

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MOD Pizza was established in 2008 in Seattle, Washington, by co-founders Scott and Ally Svenson. The Svensons previously founded the Seattle Coffee Company, a coffee company based in the United Kingdom, which they sold to Starbucks in 1998.[8] Afterwards, Scott stayed on as president of Starbucks Europe.[citation needed]

The Svensons also helped found Carluccio's Ltd., an Italian restaurant in the U.K.[8] After moving back to their home town of Bellevue, Washington, the Svensons started MOD Pizza after being unable to find fast, affordable healthy meals for their four sons.[citation needed]

James Markham, who had previously started pizza parlors in San Diego, California and Shanghai, China, was also a part of the founding team and helped develop the house recipes used by MOD.[9] The restaurant's first location was in Union Square and was followed by additional Seattle locations.[10]

The first MOD Pizza location, at Union Square in Downtown Seattle, Washington

By 2010, Markham had left MOD Pizza due to what he later characterized as a dispute in direction with the Svensons. He subsequently started a California-based chain set on MOD's "DIY" pizza concept called Pieology.[9]

Growth and expansion

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In 2013, the restaurant chain was named one of the United States' "Top 50 Breakout Brands" by Nation's Restaurant News.[11]

By 2014, MOD Pizza had 31 locations in Washington, Oregon, California, Arizona, Colorado, and Texas. The same year the company secured $15 million in private investment.[12]

In 2015, MOD Pizza raised $40 million in new funding for a total of $70 million in investment capital to fund an aggressive national growth strategy.[13] The main investor was the private equity fund PWP Growth Equity. MOD's growth is also accelerated by the addition of several franchise partnerships.[14] The business reached the 1,700-employee milestone in August 2015.[15]

In March 2016, MOD Pizza announced that they had secured $32 million in a funding round and had plans to expand to 190 stores.[16] In June, the company opened their first international location in Leeds, United Kingdom.[17]

Additional expansion in the United Kingdom with joint venture partner Sir Charles Dunstone and his business partner, Roger Taylor, began in 2015.[18] MOD named John Nelson, formerly of Nando's, Ltd. (U.K.), as their CEO of U.K. operations in January 2016.[19] MOD Pizza closed all nine UK locations in 2020.[18]

In its tenth year of business, MOD announced the opening of its 300th location in 2018.[20]

Closures and acquisition

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On January 9, 2024 It was announced that founder Scott Svenson would be stepping down to a new role as Executive Chairperson, and Beth Scott, previously of Cooper's Hawk Winery & Restaurants would take over as CEO.[21]

In April 2024, MOD Pizza abruptly shuttered 27 restaurants permanently as part of a mass downsizing.[22]

In July 2024, rumors circulated of a potential Chapter 11 bankruptcy filing, though this never occurred. By this time, the company had closed 44 restaurants.[23] The company blamed closures on declining sales caused by the COVID-19 pandemic and rising interest costs as part of the decision.[24][25] A spokesperson said the closed stores were experiencing "sustained under-performance" and "were closed due to unfavorable lease and site decisions made during a period of rapid expansion prior to the pandemic".[23]

On July 10, 2024, MOD reached an agreement to sell itself to Elite Restaurant Group. Terms of the agreement were not disclosed.[26]

See also

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References

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  1. ^ "MOD Surpasses 500-Store Milestone". 17 May 2021.
  2. ^ "Mod Pizza's CEO on How to Manage Purpose and Profit". 14 September 2020.
  3. ^ "Eastside Entrepreneurs Create a Family Business - 425 Magazine". 425 Magazine. 7 December 2015. Retrieved January 15, 2016.
  4. ^ "Eastside Fastest-Growing: MOD Pizza grabs slice of quick-service pie - Puget Sound Business Journal". Puget Sound Business Journal. Retrieved January 15, 2016.
  5. ^ "MOD Surpasses 500-Store Milestone". May 17, 2021.,
  6. ^ "Store Locations". April 9, 2025.
  7. ^ "Top-your-own pizza chains emerging fast". Pizza Marketplace. January 29, 2011. Retrieved January 14, 2015.
  8. ^ a b Canal, Emily (23 January 2018). "This Married Couple Sold Their Company to Starbucks for $90 Million, and Then Built a $131 Million Pizza Empire". Inc. Retrieved 23 January 2024.
  9. ^ a b Hynum, Rick (October 2013). "Fast-casual pioneer James Markham blazes a bold new trail into pizza's future". Pizza Magazine. Retrieved January 18, 2015.
  10. ^ "Eastside Fastest-Growing: MOD Pizza grabs slice of quick-service pie". Puget Sound Business Journal. July 19, 2013. Retrieved January 14, 2015.
  11. ^ Caley, Nora (January 28, 2013). "Breakout Brands: MOD Pizza". Nation's Restaurant News.
  12. ^ "MOD Pizza raising $15M in expansion effort". The Seattle Times. March 18, 2014. Retrieved September 26, 2024.
  13. ^ "MOD Pizza snags $40 million for plan to go national". The Seattle Times. March 5, 2015. Retrieved January 15, 2016.
  14. ^ Mod Pizza c.2014 CNTV, November 4, 2014, retrieved January 15, 2016
  15. ^ "MOD Pizza Reaches Hiring Milestone and Continues to Spread Its Unique Culture Across the Country". Yahoo Finance. 12 August 2015. Retrieved January 15, 2016.
  16. ^ Garnick, Coral (March 16, 2016). "Mod Pizza brings in another $32M, plans to double store count". Puget Sound Business Journal. Retrieved June 8, 2016.
  17. ^ Garnick, Coral (June 8, 2016). "Mod Pizza continues its rapid rise, makes international debut". Puget Sound Business Journal. Retrieved June 8, 2016.
  18. ^ a b Witts, Sophie (22 October 2020). "MOD Pizza closes its UK restaurants". The Caterer. Retrieved 24 January 2022.
  19. ^ "MOD Pizza appoints new UK CEO". www.fastcasual.com. 8 December 2015. Retrieved January 18, 2016.
  20. ^ Gelski, Jeff (January 9, 2018). "Funding to Help MOD Pizza Open More Locations". Retrieved 2024-07-11.
  21. ^ "MOD Pizza Appoints Beth Scott as Its New CEO, Welcoming the Restaurant & Hospitality Veteran". Business Wire. January 8, 2024. Retrieved September 26, 2024.
  22. ^ Lesseos, Sophia (April 3, 2024). "Mod Pizza shuts down 27 stores nationwide: Wage hike suspected for California closures". KMPH. Retrieved July 3, 2024.
  23. ^ a b Bartiromo, Michael (2024-07-08). "MOD Pizza "exploring all options" amid bankruptcy rumors". Retrieved 2024-09-26.
  24. ^ Basu, Reshmi (July 3, 2024). "Restaurant Chain Mod Pizza Prepares Potential Bankruptcy". Bloomberg. Retrieved July 3, 2024.
  25. ^ Maze, Jonathan (July 3, 2024). "MOD Pizza is reportedly considering a bankruptcy filing". Restaurant Business Online. Retrieved July 4, 2024.
  26. ^ "It's a MOD world: Pizza company saved from bankruptcy, for the moment". 2024-07-11. Retrieved 2024-07-11.
[edit]
  • Media related to MOD Pizza at Wikimedia Commons
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