Pie Face Bakery Cafe franchise taking a slice of the $750m pie

The Sydney-based Pie Face Bakery Cafe franchise has jumped into the fast-growing gourmet pie market, threatening to be a challenge for Jester Pies’ stranglehold on the market.

The fast food franchise plans to unveil 50 stores in Australia in the next few years, as founders Wayne Homshek and Betty Fong take a piece of the gourmet pie market, estimated to be worth $750 million. The fast food franchise is backed by a group of blue-chip investors, including Queensland Investment Corporation and Rothschild chairperson Trevor Rowe, Citigroup’s George Coleman and former Goldman Sachs banker Matthew Howison.

Five existing pie franchise outlets are owned and operated the company. However, the pie franchise plans to expand to allow prospective franchisees the chance to own a Pie Face Bakery Cafe franchise in premium locations. The establishment cost is approximately $250,000, including franchise fees, training, marketing and store fit-outs. The site negotiation is carried out between the Pie Face Bakery Cafe franchisors and site owners.

The battle for the $750 million prize has begun, with the judges being the pie-eating public.