Spicy Pickle(TM) Announces New Lease in San Diego
Location Marks 3rd Site for Franchisee
DENVER, CO--(Marketwire - September 16, 2008) - Spicy Pickle(TM) (OTCBB: SPKL) fast-casual restaurants announced today the signing of a lease for a Spicy Pickle restaurant at 317 10th Avenue, San Diego, CA. The new restaurant marks the 3rd lease for the Spicy Pickle(TM) franchisee in San Diego County and the second location in the downtown area. Spicy Pickle, one of the hottest ideas in fast casual food today, offers customers a wide variety of culinary-inspired subs and panini sandwiches, fresh and unique salad combinations, and Neapolitan-style thin crust Pizzetti pizzas -- all combined with warm and welcoming service and a comfortable local atmosphere. This location also offers a full range of catering services.
The location is very near Petco Park home to the San Diego Padres and in a busy and developing area of downtown San Diego. The space is ready for delivery and architectural plans are already underway. Opening should be toward the end of the year or early next year, depending on permit approvals.
Marc Geman, CEO of Spicy Pickle Franchising, Inc., commented: "Our multi-unit developer in San Diego is doing very well with their first location at 303 W. Beach St. near Little Italy. The community there is downtown business, visitors, and condos bringing a steady business to the restaurant. This new location is in a similar demographic and we expect it to perform as well as Beach St. This location is actually the third lease for this franchisee, but the one signed for the northwest corner of South Melrose Drive and Sycamore in Vista in the northern part of San Diego County will be new space and not delivered until later in 2009. So while this is the third lease it will be the second operating restaurant for the franchisee."
"We are finally seeing some favorable movement in the commercial real estate market which has not had the same steep downturn as the residential market. We continue to believe that we need to be patient and make sure the economics of the lease provide for a profitable opportunity for the franchisee. We are hopeful that the economic slowdown will now allow us to set up an aggressive 2009 development calendar."
About Spicy Pickle(TM):
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(TM) offers menu items that are far beyond traditional fast food -- but without the price point of casual dining. The hallmark of a Spicy Pickle(TM) restaurant is quality, service and an enjoyable atmosphere. The company is headquartered in Denver, Colorado, with restaurants open or under construction across 15 states and many more in development nationwide. To find out more about Spicy Pickle (OTCBB: SPKL), visit our website at www.spicypickle.com/.
Forward-Looking Statements: 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.