IntroductionPapa John's International, Inc., headquartered in Louisville, Kentucky, is the world's largest pizza chain and considered a key player in the pizza industry. Papa John's Home Pizzas are made exclusively with a proprietary blend of wheat flour, cheese made with 100% real mozzarella, packaged fresh pizza sauce made from ripe (not concentrated) tomatoes, and a proprietary blend of flavorful spices, and a choice of high-quality meats (100% beef, pork and chicken with no fillers) and vegetable toppings. However, international ingredients vary to suit habits and tastes. (http://ir.papajohns.com/) The company operates approximately 3,400 national and international pizzerias. They have five segments to their business: National Restaurants, National Commissariats, National Franchises, International Operations, and Variable Interest Entities. (Barney & Hesterly, 2010) They have company-owned restaurants in mature, developed markets, but have recently experienced a measurable decline in national franchise sales because these franchisees are not strategically positioned in more highly concentrated markets like their company-owned restaurants. To further develop Papa John's franchisees, they are working on various economic systems to provide royalties and local marketing aid for struggling franchisees, providing financing to assist existing and/or new businesses, and educating lenders and banking institutions on the models of Papa John's business. and objectives. Papa John's has currently begun repurchasing approximately 1 million shares of common stock at an average price of $22.52 per share, the company's board of directors recently extended a repurchase plan through the end of 2010. Papa John's.... .. half the paper...... end customers, in order to acquire further presence on the market. Dominos recently changed their pizza ingredients and pricing structure, they could become a major threat to Papa John's customer base because they have always prided themselves on using high quality ingredients. Dominos is now attempting to grab some of Papa John's domestic market share. Works CitedForm 10-K Annual Report filed February 24, 2009, http://ir.papajohns.com/secfiling.cfm?filingID=1104659-09-11825 ( Retrieved 2/11/10) Thursday, February 11, 2010, 2:43 p.m. EST | Edited: Thursday, February 11, 2010, 3:04 pm, Papa John's runs heart-shaped pizza promotion http://louisville.bizjournals.com/louisville/stories/2010/02/08/daily41.html?ana=yfcpc ( Retrieved 2/11/10) http://money.cnn.com/2009/09/22/news/companies/papa_johns_pizza_schnatter.fortune/index.htm (retrieved 2/12/10)