Spicy PickleTM Announces 5 Store Franchise Agreement in Chicago Area
New Franchise Sale Will Add to Existing Spicy Pickle Restaurant in Chicago
DENVER, CO--(Marketwire - January 8, 2008) - Spicy Pickle™ fast casual restaurants (OTCBB: SPKL) today announced the sale of a multi unit restaurant development to a new franchise developer in the greater Chicago metropolitan area, increasing the total number of franchises the Company has sold to 110.
A new franchisee has entered into a franchise and development agreement to open the first Spicy Pickle™ Restaurants in the suburbs of Chicago including Oak Brook, Naperville, Lemont and Orland Park. The new franchisee learned about Spicy Pickle from visiting the existing restaurant at 2312 Lincoln Ave., in Chicago's Lincoln Park district.
Marc Geman, CEO of Spicy Pickle™ Franchising, Inc., commented: "We were waiting for the right franchisee to help continue the development of Spicy Pickle in the Chicago market. Obviously the Greater Chicago Metropolitan area can support a large number of restaurants and centralizing this franchisee's efforts in the western and southwestern suburbs leaves plenty of room for continued growth in this market."
Mr. Geman further commented, "Markets in large metropolitan areas like Chicago support huge numbers of the typical Spicy Pickle customer. However the very size of the market and competition makes it challenging to get brand recognition. Our non-preservative meats and interesting flavor combinations in our sandwiches along with the customer's ability to build their own sandwich from high quality ingredients with toppings and spreads from around the world sets us apart from the everyday sandwich shop and provides a delicious and healthy alternative for customers seeking quality food. Our new franchisee will deliver that to these markets and we are confident will generate further interest in our concept for the Chicago area."
About Spicy Pickle™:
Founded in 1999, Spicy Pickle™ Franchising, Inc. (OTCBB: SPKL) serves high quality meats and fine artisan breads, baked fresh daily, along with a wide choice of eight different cheeses, twenty-two different toppings, and fourteen proprietary spreads to create healthy and delicious panini and sub sandwiches with flavors from around the world. As a leading "fast-casual" concept, Spicy Pickle™ offers menu items that are far beyond traditional fast food -- but without the price point of casual dining. The hallmark of a Spicy Pickle™ restaurant is quality, service and an enjoyable atmosphere. The company is headquartered in Denver, Colorado, with franchise locations now open across 12 states and many more in development nationwide. For more about Spicy Pickle™, including franchise information and inquiries, visit http://www.spicypickle.com.
Certain statements in this press release, including statements regarding the number of restaurants we intend to open, are forward-looking statements. We use words such as "anticipate," "believe," "could," "should," "estimate," "expect," "intend," "may," "predict," "project," "target," and similar terms and phrases, including references to assumptions, to identify forward-looking statements. The forward-looking statements in this press release are based on information available to us as of the date any such statements are made and we assume no obligation to update these forward-looking statements. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those described in the statements. These risks and uncertainties include, but are not limited to, the following: factors that could affect our ability to achieve and manage our planned expansion, such as the availability of a sufficient number of suitable new restaurant sites and the availability of qualified franchisees and employees; risks relating to our expansion into new markets; the risk of food-borne illnesses and other health concerns about our food products; changes in the availability and costs of food; changes in consumer preferences, general economic conditions or consumer discretionary spending; the impact of federal, state or local government regulations relating to our franchisees and employees, and the sale of food or alcoholic beverages; the impact of litigation; our ability to protect our name and logo and other proprietary information; the potential effects of inclement weather; the effect of competition in the restaurant industry; and other risk factors described from time to time in our SEC reports.