Smaller markets are interesting.
I keep waiting for someone to move into my area with at least a fresh dough. Everybody in the hometown uses a frozen dough crust or a parbake. But there are nine mom and pops on top of a Domino’s and a Papa John’s. The population sits at about 8000 people. About 3 years ago, a Noble Romans moved in and then closed about 8 months later. Competition is fierce. Mr. Lillicr*p (really, that is his name) spent a ton of money on franchise fees, the required build-out of the store, plus he purchased all brand new equipment.
I’m not against purchasing brand new equipment all the way around, but to pay out all that cash in franchise fees and required build outs then have to follow someone else’s rules for your shop in a small town with mediocre pizza all the around to begin with, more mediocre pizza is not going to keep you in business.
If someone in my area wanted to fight the fight, they could indeed be incredibly successful at pizza, but it’d better be a really excellent product, cheap on top of that, and marketing dollars will need spent.
I’ve lived in other small towns before. Pizza shops were a lot fewer in number. But they were also independents and seemed to always be busy. In your situation, I’d advise not purchasing a franchise, but creating your own unique brand.