BALTIMORE, Oct. 1 // PRNewswire-FirstCall // -- Papa Bello Enterprises (Pink Sheets: PAPA) announced today that the company has filed the necessary paperwork to register its franchise in the states of Maryland, Virginia and California. The registration process is expected to take a few weeks, pending individual state review, comment, and due diligence. These new geographic locations contain significant potential markets for Papa Bello and enjoy unique, positive characteristics in this challenging economy.
Over the past two years, the Mid Atlantic area has been relatively insulated from the roughest aspects of the recession, due to the high concentrations of federal and state government agencies, universities, health care conglomerates, and military installations. In addition, the state of California boasts the 8th largest economy in the world and the recent resetting of some commercial real estate prices offers enhanced leasing opportunities for prime locations throughout the state.
Jim Price, CEO of Papa Bello Enterprises states, "We look forward to completing this process and, when finished, will aggressively pursue strong franchisees with the ability to grow the Papa Bello franchise model throughout the respective regions. This opportunity is very real. We have seen a significant migration from high priced restaurants to more cost effective, family style eateries that offer more value for their money. Parties interested in opening a Papa Bello franchise should go to our website, www.papabellopizza.com, and review the informational video detailing the current opportunities and benefits to owning a Papa Bello restaurant."
Founded in 2005, Papa Bello Enterprises is a Baltimore, Maryland based corporation that owns, operates, and franchises Italian style eateries in the United States and abroad. The company currently operates stores inside Wal-Mart Superstores and stand-alone locations. The company was founded on the principles of providing the consumer with the highest standards of quality, value, and service.
This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company's expected future business and financial performance, and often contain words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "seeks," "will," and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.
SOURCE Papa Bello Enterprises