Mighty Pie is an instant hit
DINO Fifas, a former senior manager with one of the largest banks in the country, has carved a new career for himself as a Mighty Pie franchisee.
"We get staff from a nearby pie shop coming to buy our pies because they taste better," says Fifas, who swapped his air-conditioned office for long hours spent beside a hot oven.
"I have no qualms about leaving banking, because I see a great future in this business," he says.
Mighty Pie is the latest franchise to be added to the Steers group. A fully-fitted Mighty Pie outlet costs about R260 000, which includes an up-front fee of R25 000. The franchisee pays 4% of turnover in royalties and 3% for advertising. So far, 12 stores have been opened and several more are in the pipeline.
"The Mighty Pie stores cater to the emerging lower sector of the fast food market," says Steers managing director John Halamandres.
"Together with the Steers outlets, aimed at the middle sector, and Longhorn, aimed at the upper sector, our pie outlets are helping the group cover a much wider spectrum of the food market."
Mighty Pie is 51% owned by Steers and 49% by two of the group's regional licensees. The concept is aimed at small entrepreneurs looking for safe investments and healthy returns.
Each aspect was intensively researched, down to the decor, ambience and recipes. Pies are prepared under strictly controlled conditions by an outside supplier and baked at the outlet. Steers sauces and seasonings are used.