Does the manager of an Aw Papa Ray's Pizza Restaurant need to have an equity interest in the restaurant?

According to Aw's 2025 Franchise Disclosure Document, the manager of a Papa Ray's Pizza Restaurant is not required to have an equity interest in the restaurant. However, the manager must maintain the confidentiality of Aw's confidential information and sign an agreement to that effect in a form approved by Aw.

While the franchisee is not required to personally supervise the restaurant's operations, the restaurant must be under the direct, day-to-day, full-time supervision of either the franchisee (or an approved owner if the franchisee is an entity) who has completed the initial training program, or a manager who has completed the training program. If a manager is supervising the restaurant, the franchisee or approved owner must still remain active in overseeing the operations conducted under the manager's supervision.

This arrangement provides flexibility for Aw franchisees who may not be able to personally manage the restaurant full-time. However, it also places importance on selecting a qualified and trustworthy manager who can uphold Aw's standards and protect confidential information. The franchisee retains ultimate responsibility for the restaurant's operations and must actively oversee the manager's performance.