UFood Submits Application For Listing on U.S. Small Business Administration's Franchise Registry
BOSTON --(BUSINESS WIRE)-- UFood Restaurant Group, Inc. (OTCBB:UFFC) is pleased to report that it has submitted an application for listing on the Franchise Registry with the U.S. Small Business Administration. The Franchise Registry lists names of franchise systems whose franchisees enjoy the benefits of a streamlined review process for U.S. Small Business Administration (SBA) financings. Loan applications for franchises on the Franchise Registry can be reviewed and processed more efficiently and quickly by SBA and its lenders because the respective franchise agreements do not need to be reviewed in each individual franchisee situation.
"Part of the Company's strategy to expand franchise locations is supported by offering first-class operational and development support," said George Naddaff, the Company's Chairman and CEO. "Applying to be listed on the Franchise Registry is a way of improving the probability that its franchisees will find start-up, renovation or expansion funds. Franchising tries to alleviate the uncertainties by having ready answers and with a proven system in place to follow and we determined it was important to do whatever we could to expedite the financing process, which included pursuing a listing on the SBA Franchise Registry."
About UFood Restaurant Group, Inc.
Headquartered in Boston, MA UFood Restaurant Group, Inc. is a franchisor and operator of fast-casual food service restaurants. UFood Grill offers healthy lifestyle alternative to consumers in the fast-casual restaurant space and is positioned to become a leading player in the "better-for-you" quick-serve restaurant category. The Company is led by franchise innovator George Naddaff, who founded Boston Market and led the franchising of several companies including Sylvan Learning Center and VR Business Brokers. Mr. Naddaff has assembled a veteran management team with a successful record in the franchise market. UFood is currently launching a growth plan to franchise nationwide. To learn more, visit www.ufoodgrill.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 involving known and unknown risks, delays, and uncertainties that may cause our actual results or performance to differ materially from those expressed or implied by these forward-looking statements. These risks, delays, and uncertainties include, but are not limited to: risks associated with the uncertainty of future financial results, our reliance on our sole supplier, the limited diversification of our product offerings, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements.