Rave Restaurant Group Inc
raverg.comWhat Do They Do?
Franchises Pizza Inn buffet, delivery and express restaurants and Pie Five fast-casual pizza restaurants to restaurant operators.
10-K for FY2026, filed Sep 24, 2026Rave Restaurant Group, Inc., (www.raverestaurantgroup.com) through its subsidiaries (collectively, the “Company” or “we,” “us” or “our”)…View ↗
We operate and franchise restaurant concepts under two distinct brands: Pizza Inn and Pie Five.View ↗
We franchise Buffet Units, Delco Units, Express Units and Pizza Inn Ghost Kitchen Units under the Pizza Inn brand. Buffet Units and Delco…View ↗
Pie Five is a fast-casual pizza concept that creates individualized pizzas which are baked in our specially designed oven. Pizzas are…View ↗
How Do They Make Money?
Suppliers and distributors pay incentives when related goods change hands; restaurant franchisees pay royalties as their sales occur. Franchisees also contribute to advertising funds, collected weekly or monthly, and pay license or development fees.
10-K for FY2026, filed Sep 24, 2026Franchise royalties, which are based on a percentage of net retail sales, are recognized as sales occur.View ↗
Supplier and distributor incentive revenues are recognized when title to the underlying commodities transfer.View ↗
Franchise license fees are typically billed upon execution of the franchise agreement and amortized over the term of the franchise…View ↗
Area development exclusivity fees and foreign master license fees are typically billed upon execution of the area development and foreign…View ↗
Advertising fund contributions for Pizza Inn and Pie Five units represent contributions collected where we have control over the activities…View ↗
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10-K for FY2026, filed Sep 24, 2026
FY2026 revenue by product or service ↗
$12.9M
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10-K for FY2026, filed Sep 24, 2026
$12.9M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Franchise Royalties
Usage-based
10-K for FY2026, filed Sep 24, 2026 |
36%
FY2023: 42%
|
Franchise Royalties, FY2026
$4.7M Sources
|
Usage-based |
|
Supplier and Distributor Incentive Revenues
Sold outright
10-K for FY2026, filed Sep 24, 2026 |
44%
FY2023: 37%
|
Supplier and Distributor Incentive Revenues, FY2026
$5.7M Sources
|
Sold outright |
|
Franchise License Fees
Recurring
|
0.8%
FY2023: 1.3%
|
Franchise License Fees, FY2026
$106K Sources
|
Recurring |
|
Area Development Exclusivity Fees and Foreign Master License Fees
Licensed
|
0.1%
FY2023: 0.2%
|
Area Development Exclusivity Fees and Foreign Master License Fees, FY2026
$12K Sources
|
Licensed |
|
Advertising Fund Contributions
Usage-based
10-K for FY2026, filed Sep 24, 2026 |
17%
FY2023: 16%
|
Advertising Fund Contributions, FY2026
$2.2M Sources
|
Usage-based |
|
Supplier Convention Funds
Sold outright
|
1.6%
FY2023: 1.5%
|
Supplier Convention Funds, FY2026
$209K Sources
|
Sold outright |
|
Rental Income
|
0.0%
FY2023: 1.6%
|
Rental Income, FY2026
$0 Sources
|
|
|
Other Franchise Revenue
|
0.1%
FY2023: 0.2%
|
Other Franchise Revenue, FY2026
$15K Sources
|
Who Are Their Customers?
Restaurant operators buy Pizza Inn and Pie Five franchises and licenses. Franchisees and licensees purchase food and supplies directly from authorized distributors; some may also buy non-proprietary supplies from other suppliers that meet the company's requirements.
10-K for FY2026, filed Sep 24, 2026Franchise and development agreements. Since the Pizza Inn concept was first franchised in 1963, industry franchising concepts and…View ↗
We launched the franchise program for Pie Five in fiscal 2013. Our Pie Five franchise agreement requires that the franchisees: (i) follow…View ↗
We also offer master license rights to develop Pizza Inn and Pie Five restaurants in certain foreign countries, with negotiated fees…View ↗
Our franchisees and licensees purchase food and supplies directly from authorized, reputable, and experienced supply and distribution…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 22 cents of every revenue dollar as net income in FY2026 and turned 27 cents into free cash flow.
10-K for FY2026, filed Sep 24, 2026
$3.5MView ↗
10-K for FY2026, filed Sep 24, 2026
$2.9MView ↗
10-K for FY2026, filed Sep 24, 2026
$3.5MView ↗
How Are They Changing?
Growing. Revenue grew 21% in 4 years, from $10.7M in FY2022 to $12.9M in FY2026, about 5% a year.
Ghost kitchen formats
Pizza Inn and Pie Five franchise offerings include ghost kitchens alongside restaurant formats; the earlier lineup also included PIE kiosks.
10-K for FY2023, filed Sep 21, 2023 10-K for FY2026, filed Sep 24, 2026Rave Restaurant Group, Inc., through its subsidiaries (collectively, the “Company” or “we,” “us” or “our”) franchises pizza buffet (“Buffet…View ↗
We franchise Buffet Units, Delco Units and Express Units under the Pizza Inn brand. Additionally, we license PIE Units under the Pizza Inn…View ↗
Pie FiveView ↗
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