Spicy PickleTM Announces a 10 Store Franchise Agreement in Houston
DENVER, CO--(Marketwire - February 4, 2008) - 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.
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.