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Slice of Life Pizza

Slice of Life Pizza

Slice of Life Pizza | Wilmington, NC

Ray Worrell
www.grabslice.com
Ray Worrell is no stranger to the restaurant business. During his time as a student at UNC Wilmington, he worked in several local restaurants and quickly learned a great deal about the restaurant business from serving to bartending to management. In 2004 after two years of working at Slice of Life Pizzeria & Pub in downtown Wilmington, the owner gave him the opportunity to purchase the restaurant. He jumped at the opportunity, but knew he may need help with obtaining financing.
He was able to get most of his financing from family and the restaurant owner, but needed assistance with preparing a business plan and financial projections to obtain a loan to complete the purchase. A friend and active SBTDC client referred him to the SBTDC’s office at UNC Wilmington for help with his business. Business counselor Jim Howell assisted Ray with developing a well-polished business plan and realistic and promising financial projections that helped him obtain a total of $220K to purchase Slice of Life.
In 2007, the Slice of Life restaurant in downtown Wilmington was doing well with increased sales and growing customers. Ray felt it was the right time to open a second location in the Wrightsville Beach area. Again, Ray went to his SBTDC business counselor for his expert advice on the business plan and financial projections. He was able to obtain a $125K loan and invested equity capital to open the restaurant.
In 2010, Ray went to his business counselor to brainstorm and analyze whether he should start a new pastry business or open a third Slice of Life. After his business counselor prepared full financial analysis of Ray’s current businesses, including analysis of gross margins, expenses, net margins, asset utilization, trends in all of above, and ProfitCents for comparison to industry performance, the pair realized that it would be better to continue with another pizzeria. Ray found an available, desirable location in an area south of Wilmington, and opened the new restaurant in January 2011. With updated financial projections and a business plan in hand, he was able to obtain a $125K loan for this new operation.
Featured in the Wilmington Star-News as one of the most successful entrepreneurs in the area, Ray has leveraged his industry expertise and the SBTDC to grow Slice of Life and help strengthen the local economy. During a recession in which many restaurants closed or struggled, Slice of Life prospered with a formula of focused menus, good locations, friendly ambience, and efficient operations. The sales growth of all three restaurants has grown from $350K in 2004 to nearly $3.5 million in 2012. Since 2004, Slice of Life Pizzeria & Pub has obtained $470K of financing and created 75 jobs with SBTDC assistance.
Story originally featured in the SBTDC’s 2012-2013 Annual Report.
 

More Client Stories from the Wilmington Area

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Sours: https://sbtdc.org/results/success/slice-of-life-pizza/

Slice, an online ordering and marketing platform for pizzerias, raises $43M

Global investment firm KKR is betting on the pizza business — it just led a $43 million Series C investment in Slice.

Formerly known as MyPizza, Slice has created a mobile app and website where diners can order a custom pizza delivery from their local, independent pizzeria.

And for those pizzerias, CEO Ilir Sela said Slice helps to digitize their whole business by also creating a website, improving their SEO and even allowing them to benefit from the “economies of scale” of the larger network, through bulk orders of supplies like pizza boxes.

Sela contrasted his company’s approach with other popular food delivery apps that he characterized as aggregators. For one thing, Slice “anchors” your favorite pizzerias in the app, giving them the top spots and making it easy to place your regular order with just a few taps. And it will be adding more loyalty features soon.

“Our job is to make loyal customers even more loyal,” he said.

In addition, while services like Grubhub have faced criticism for their steep fees, Sela said Slice’s fee is capped at $2.25 per order, allowing pizzerias to get all the upside from large orders.

Of course, the environment for restaurants has changed dramatically in the last few months, thanks to COVID-19. But most pizzerias are already set up for takeout and delivery, and Sela said that more than 90% of the 12,000-plus pizzerias that work with Slice have stayed open.

He also pointed to the company’s Pizza vs Pandemic initiative, which raises funds for pizzerias to feed healthcare workers. The program has raised more than $470,000 and fed an estimated 140,000 workers.

“Local independent pizzerias have been feeding Americans across communities for decades and we are excited to put our resources behind Slice as they help to move these businesses online,” said KKR Principal Allan Jean-Baptiste in a statement. “Slice charges small business owners a fraction of the fees charged by food delivery apps and offers a suite of vertical specific solutions to solve the challenges faced by independent pizza makers.”

Slice had previously raised $30 million, according to Crunchbase. Sela said he’ll be using the new funding to bring on more pizzerias and continue building a “vertically integrated solution for the small businesses, in order to solve more and more of their challenges.”

Sours: https://techcrunch.com/2020/05/12/slice-series-c/
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  • From Our Family to Yours

    Discover the wholesome goodness of a Slice of Life product.
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  • From Our Family to Yours

    Discover the wholesome goodness of a Slice of Life product.
    Our unique blend of psyllium husk, flax and pumpkin seeds is baked into a delicious
    almond-flour loaf, making for the tastiest low carb and gluten-free bread in Toronto.

    PURCHASE NOW

  • From Our Family to Yours

    Discover the wholesome goodness of a Slice of Life product.
    Our unique blend of psyllium husk, flax and pumpkin seeds is baked into a delicious
    almond-flour loaf, making for the tastiest low carb and gluten-free bread in Toronto.

    PURCHASE NOW

  • From Our Family to Yours

    Discover the wholesome goodness of a Slice of Life product.
    Our unique blend of psyllium husk, flax and pumpkin seeds is baked into a delicious
    almond-flour loaf, making for the tastiest low carb and gluten-free bread in Toronto.

    PURCHASE NOW

  • From Our Family to Yours

    Discover the wholesome goodness of a Slice of Life product.
    Our unique blend of psyllium husk, flax and pumpkin seeds is baked into a delicious
    almond-flour loaf, making for the tastiest low carb and gluten-free bread in Toronto.

    PURCHASE NOW

  • From Our Family to Yours

    Discover the wholesome goodness of a Slice of Life product.
    Our unique blend of psyllium husk, flax and pumpkin seeds is baked into a delicious
    almond-flour loaf, making for the tastiest low carb and gluten-free bread in Toronto.

    PURCHASE NOW

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