November 27, 2014

Leading Hospitality Business Broker sells own company for $11.5 million.

Benchmark Business Sales Specialist Broker & entrepreneur Emil Parthenides has sold his business, 131 PIZZA, for $11.5 million. 

In 2009, Emil Parthenides started a small independent pizza branding business 131 Pizza on a shoestring budget. He invested $5,000 to see his idea grow legs, with tentative expectations.

Emil Parthenides has sold his 131 Pizza business for $11.5m

The business had a simple premise, to give independent pizza retailers the same benefits major franchises get at a fraction of the cost.

“We got a handsome offer and we decided to take it,” Parthenides says.

Parthenides is also founder and owner of the Better Box Company, which distributes patented pizza boxes worldwide with an annual turnover of over $50m pa. In addition, he was also the owner of Gallery 324 & Pizza e Birra restaurant group.

It seems everything that Emil touches turns to gold.

Emil’s philosophy on business is what’s set himself apart from the pack. “I like to start a business from scratch, get in and grow your own value to it, without having to spend huge amounts on setting up” he says.He said by recruiting well trained management along with seamless systems he has to make at least “3 to 5 times multiple” on his ventures.
It is no wonder Parthenides is such a highly sought after specialist food service broker with award winning agency Benchmark Business Sales.
When asked why Parthenides became a business broker, Parthenides responded “I had dealt with a number of business brokers from a number of agencies and rarely had a good experience, most had no idea how to value my businesses nor sell them. Business brokers tend to have a shady reputation and when head hunted by Benchmark Business Sales to lead their food service division, I was tentative at first, but I did my research and was hugely impressed by their credibility and specialised nature. I felt I would only bring further value to this. I have had my successes and am happy to pass that on in anyway I can”.

When asked for any final thoughts for our readers? “Yes, turnover is vanity, profit is sanity” he says.
Thinking of buying, selling or just need some valuation advice?

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