The Classic Franchise Brands Making a Big Comeback in 2023

Sears, Toys ‘R’ Us and Blockbuster are just a few stores that weren’t able to stand the test of time and had to shut their doors in one way or another. Though these stores and more had to close their doors permanently, these classic franchises are making a comeback in 2023 despite the tough times they fell on. 

Cici’s Pizza

The Texas-based pizza franchise was founded in 1985 in Plano, Texas by Joe Croce and Mike Cole. Before the pandemic started, sales for the franchise began to decline, dropping from $443.3 million to $393.9 million. When the pandemic hit, the brand suffered a larger loss of $2.7 million in 2020 and filed for bankruptcy in 2021. After filing for bankruptcy, the brand was acquired by D&G Investors.

This acquisition and the addition of game rooms in several locations were able to increase customer interest in the pizza chain. Now, in 2023, the game rooms contribute about 10%–20% in revenue and increase from the 1% it used to contribute. Cici’s has 300 locations all over the U.S., and 112 of those are in Texas alone. To franchise a Cici’s Pizza, click here. 

Golden Corral 

It comes as no surprise that buffet restaurants would be hit hard during the pandemic. The buffet brand was founded in 1973, in Fayetteville, North Carolina and will soon be celebrating 50 years of business. Unfortunately, in 2020, sales decreased over 60% in 2020. Two of the brand's largest franchisees filed for bankruptcy.

Luckily, now the famous buffet brand is showing signs of a resurgence in 2023. Revenue increased more than $1 billion in 2021. In 2022, sales were up 30%. The brand plans to branch out into a drive-thru format at some point in the future. You can learn about franchising a Golden Corral here.

JCPenney 

JCPenney has struggled for more than a decade to stay in business. In 2020, the retail brand filed for bankruptcy, but that was not the end of the story. In 2021, Penney’s got a new CEO: Marc Rosen, a retail veteran who has worked for Walmart and Levi’s, and is working to turn the brand around. 

The company started in 1902 as a dry goods store. As the store transitioned into a retail empire, it ran into some difficulties. While filing for bankruptcy, it had to close several stores, and its partnership with Sephora ended in 2020 as well. Despite the troubles, Penney’s is not in hot water for the first time in years, with 669 current locations open and has plans to change brands offered in stores as well as prices. 

California Pizza Kitchen

California Pizza Kitchen also suffered at the hands of the pandemic. The pizza franchise lost a tenth of its stores in 2020. When it filed for bankruptcy, it was $403 million in debt. The brand was founded in 1985 by two lawyers in Beverly Hills, California. The pair then went on to popularize California-style pizza. 

Luckily, despite the problems, the brand was able to file a debt-for-equity deal and reduce its debt by $220 million. With a load of debt reduced and a menu change, California Pizza Kitchen was able to make a rebound over the past few years. You can franchise a California Pizza Kitchen here. 

Sbarro

This pizza franchise went bankrupt twice—once in 2011 and again in 2014. Due to the help from private equity firms and a little rebranding, the company transformed into more of a fast-casual restaurant rather than a mall kiosk. 

Despite issues in the past, Sbarro is now working toward a major expansion. The brand started in Brooklyn in the 1950s. In 2022, it surpassed 100 new store openings—a record for this Italian-style eatery. Sbarro is available for franchising, and you can learn more here.