According to some estimates, about 60% of new restaurants close within a year of opening; 80% close within five years.
Even for historically successful franchises, remaining profitable can be difficult. The owners of the Pizza Hut at 2425 Broadway in Anderson confirmed Tuesday that the restaurant will soon close.
As of late 2018, there were about 18,000 Pizza Huts worldwide. Clearly, the restaurant chain has been a success.
But at least three Pizza Huts have closed or become carryout restaurants only in Anderson in the past several years.
The latest closing will create another empty storefront in North Anderson. And it will be a challenge for any new occupant of the location, whether it’s a restaurant or another business.
As Anderson’s director of economic development, Greg Winkler, said Tuesday, “This is not necessarily an Anderson issue. This is a change in the way people purchase goods in the marketplace. If you want to stay in business with a brick-and-mortar store, you have to provide a unique experience, one that people are willing to climb in their car and go to (have) that experience.”
Some Pizza Hut fans would argue that the restaurant chain does that, offering a trademark dining experience. But, obviously, it wasn’t working well enough at the Broadway location.
Gary and Nancy Coomer, who own 21 Pizza Hut restaurants, including the one on Broadway among half a dozen in Anderson, plan to open a carryout store in the Pay Less Super Market plaza at Cross Street and Scatterfield Road. They’re counting on heavy traffic there leading to enough pizza sales to make the location profitable.
So, what will happen to the Pizza Hut location on Broadway?
Well, there’s a whole blog, titled “Used to Be a Pizza Hut,” devoted to what’s happened to former PH locations across the country. Many now house other restaurants, but some have been put to other uses: tire shops, coin laundries, neighborhood markets, even an adult novelty store in Muncie.
Consumers in Anderson don’t like to see restaurants or other businesses close. But courageous entrepreneurs often step forward to start a new business that provides a popular product or service.
We’ll miss the pepperoni pies, but we’ll keep an open mind about what’s next for 2425 Broadway.