ALERT DATE & PRICE: SEP 21, 2007 / $.69 ALERT EMAIL:CLICK HERE CURRENT PRICE: $1.28 CURRENT % ROI: +86%
COMPANY CONTACT INFO:
Spicy Pickle Franchising Inc.
B90 Madison St., Suite 700
Denver, CO 80206 Phone: (800) 711-1902 Fax: (303) 297-1903 Email:
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Web:www.spicypickle.com
INVESTOR RELATIONS INFO:
Spicy Pickle Phone: (800) 711-1902
Spicy Pickle Announces a 10 Store Franchise Agreement in Houston
Monday, February 04, 2008: 4:00 pm ET
Spicy Pickle fast casual restaurants (OTCBB: SPKL) today announced the sale of a multi unit restaurant development for Houston, TX, bringing the total number of franchises sold up to 123.
The development agreement includes the greater Metropolitan Houston area including Sugarland and calls for a total of ten (10) Spicy Pickle restaurants over the next several years.
Marc Geman, CEO of Spicy Pickle Franchising, Inc., commented: "We continue to have a lot of interest in Texas and already have two successful restaurants in Austin with a third under construction. Texas can support a large number of stores and demographically contains a huge population base of our ideal customers. We have interest from Dallas and San Antonio, and expect Texas to be a large, if not the largest state outside of Colorado in numbers of Spicy Pickle restaurants."
Mr. Geman further commented, "Our new franchisee formerly operated a chain of funeral homes. While it may seem like an odd transition, there are in fact many similarities. Both business models are very customer service orientated. Our franchisee understands the competitive landscape of retail business. Having already operated a very successful chain, they are very well financed. They understand local marketing and have their staff working in the fast casual restaurant segment. They will be in a position to open restaurants as quickly as we can find suitable real estate. Our demographic program has already developed a model Spicy Pickle restaurant location to work in the Houston market."
In combination with the 3 corporate stores and the 123 franchises sold to date, Spicy Pickle now has commitments for 126 units in total of which 36 are currently open.
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