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Chapter 8. Financial Analysis > PR Restaurants, LLC

PR Restaurants, LLC

PR Restaurants, LLC, was founded in 1997 by David Peterman (the P) and Mitchell Roberts (the R) as a franchisee of Panera Bread, LLC. Between 2000 and 2003, Mitch and David opened nine bakery-cafés; their ADA covers the area outside Route 128 in Massachusetts and all of New Hampshire, Vermont, and Maine. PR Restaurants was one of Panera Bread’s first five franchisees. In just a short time, PR Restaurants became Panera’s leading franchisee in same-store sales. Same-store sales are a key metric in most retail operations for measuring the revenue growth of stores that were in existence a year earlier. Another measure, system sales, includes new stores and tends to mask the condition of the individual store.

By age 37, Mitch had accomplished much. Between college and business school, he spent 5 years in real estate development learning the ropes. After graduating from MIT’s Sloan School, Mitch worked for 8 years at Au Bon Pain, leaving as head of corporate real estate development. When Mitch became a franchisee, he was able to leverage his 13 years of experience in real estate and 8 years in the Au Bon Pain business.


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