Checkers Franchise Announces Four New Restaurants Planned for Brooklyn
Kalex Partners LLC to Open First Restaurant in September 2010
TAMPA, FL - (Marketwire) - Checkers® Drive-In Restaurants announced today the signing of a multi-unit store development agreement with Kalex Partners LLC for four new restaurants in Brooklyn, New York. The first restaurant is scheduled to open at 491 Nostrand Avenue in late September. Kalex plans to open three more Checkers restaurants over the next five years. Checkers' development in Brooklyn is part of a strategic growth strategy to expand the brand's presence in existing markets, as well as in new regions across the country.
"Checkers is excited to expand its footprint in Brooklyn with Kalex Partners LLC," said Checkers' Chief Development Officer Lynette McKee, CFE. "Our current Brooklyn restaurants have experienced great success and we are confident local residents will continue to crave our incredibly flavored burgers and uniquely seasoned fries, and we look forward to continuing to serve the local community."
Sean McDevitt and Richard Bowditch are the founders of Kalex Partners LLC. As a senior investment banking professional, McDevitt most recently co-founded Maren Group, a boutique mergers & acquisitions advisory firm. He graduated from West Point Academy and served as a Captain in the U.S. Army Rangers.
As a veteran, McDevitt qualified for Checkers' VetFran discount which offers 20 percent off the total franchise fee. Through VetFran, Checkers is committed to providing qualified U.S. Veterans with financial incentives to help make the transition from military to civilian life.
"Both Richard and I are longtime Brooklyn residents and we are thrilled to be investing in our hometown," said McDevitt. "We are excited to expand Checkers' presence in Brooklyn and play an important role in the daily lives of people who live and work here."
Richard Bowditch has built a successful photography business over the past 27 years. He began his career as a magazine photographer, shooting for publications such as Gourmet, Forbes and W. Today, Bowditch works on assignment for leading advertising agencies and Fortune 500 companies.
Joining McDevitt and Bowditch at Kalex will be Mohammed Elsaadiny. Elsaadiny brings a wealth of industry operating experience to the Kalex team, and he will serve as its operating partner. He was most recently a director of operations for Papa John's International and helped to manage the company's Manhattan development.
Currently, Checkers Restaurants has more than 800 locations open across the U.S. As for additional expansion, the company is seeking to add several new development agreements in key markets such as New York, New Jersey, Philadelphia, Washington D.C., Baltimore, Detroit, Chicago and Atlanta, among other cities.
Franchisees should possess a strong financial background, a passion for their communities and the willingness to maximize their sales through area development agreements ranging from 3 -10 units. Single restaurant development opportunities also exist in select markets as well as conversions into single and double drive-thru locations. Candidates should possess a minimum net worth of $750,000 and liquid assets of at least $250,000. Financial qualifications may vary based on the opportunity available by market.
Checkers credits its success to the strength of its product, business model, innovative design and franchisee network. The Company is dedicated to providing the extensive training, operational support, national marketing and supply chain expertise necessary for franchisees to build a successful business.
Part of Checkers' recent success is also due to the company's expansion into non-traditional locations such as airports, universities and turnpike plazas. That growth, in combination with the advancement of end-cap and in-line designs, has provided new and existing franchisees with a greater range of development options.
Known for its full-flavored, hand seasoned burgers, thick shakes and famous seasoned fries, Checkers provides great tasting, fresh food for today's on-the-go guest. Signature items include the classic Big Buford®, Champ® Burger, loaded fries and classic bone-in wings tossed in one of five flavors. Each location strives to serve top-quality meals at a great value with Guest-Obsessed© hospitality, speed and accuracy.
Checkers Drive-In Restaurants, Inc. is the largest double drive-thru restaurant chain in the United States. The company develops, owns, operates and franchises both Checkers and Rally's restaurants. Based in Tampa, Florida, it has more than 800 restaurants open across the U.S. In recent years, the brand has been awarded several of the industry's most prestigious awards including: "Best Drive-Thru in America" by QSR Magazine and the "Hot! Again Award" from Nation's Restaurant News.