Victor Martinez, president
In 1988, Victor Martinez left his native Dominican Republic to settle in New York City. He was only a teenager but he was determined to succeed. After arriving in the United States he worked for Domino’s Pizza making and delivering pizzas. While he enjoyed the work in the “Big Apple” he wanted to move to Rhode Island to be closer to his mother and family.
Victor used his experience in the pizza business at once by working in an East Providence pizza shop. Recognizing his talents the owners promoted him right up to assistant manager. He then sought another challenge and found a small pizza parlor in Central Falls that was looking to expand. During the four years he managed that establishment, the business went from $3,000 a week in sales to $9,000.
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After more than five years of managing pizza businesses for others, Martinez decided it was time to put his experience and enthusiasm to work for himself. He raised $25,000 from family and friends and opened Providence Palace Pizza on Elmwood Avenue in Providence.
Providence Palace Pizza enjoyed tremendous growth and it wasn’t long before Victor began thinking of expansion. But Martinez recognized that he would never be able to compete with the national pizza chains, however he was savvy enough to know that no matter what, he would be able to capture one third of the market despite the competition. And that is where he focused his attention.
In 1997, with the help of Joseph J. Rocchio, Vice President of BankBoston First Community Bank, and a SBA loan guaranty, Victor purchased a rundown shop in the Olneyville section of Providence.
His dream was to renovate the shop and start the best pizza parlor the city had ever seen. Rocchio was very impressed with Victor’s good judgement along with his knowledge of the business and the area. This determination is what set Martinez’s apart from others in his industry. Victor was very determined as to how he would handle this new venture. He was sure that the key to success would be to grow his business slowly.
It wasn’t long before Martinez turned the Manton Avenue location into another thriving pizza business. At this point Providence Palace Pizza grew from a one-employee operation on Elmwood Avenue to a total of 20 employees today.
This 27-year old says he is not going to be content with his success, he’s not standing still. About 80 percent of his business is from “take-out”. He is now developing plans for a more elegant dining experience that would include a beer and wine menu and gourmet pizza. He says he wants to have such a location closer to Downtown Providence within the next year.
Martinez has learned to buy the best ingredients for his pizzas. He knows that using the right ingredients properly is the key to making good pizza, and this not only keeps his customers happy, but it keeps them coming back.
Victor learned that it takes five years to really understand all aspects of a business. He knows that it’s much more than just learning how to make good pizza.
He also knows that it is also very important to learn from mistakes, because mistakes cost money in business.
