Nation's Leading Dry Cleaner Signs 20 Unit Development Agreement;
Looks to Continue Regional Expansion with Business Development Veterans
July 13, 2011 // Franchising.com // GREENBELT, Md. - ZIPS, an aggressively expanding Mid-Atlantic dry cleaning franchise with more than 28 locations along the East Coast, recently announced the continuation of its regional expansion plans with the signing of a 20 unit development deal.
The multi-unit deal was signed with Pilgrimage Development, LLC, a Maryland-based investment and retail development group anchored by lead investor Harvey Rothstein, CEO of DavCo Restaurants, Inc. The partners have more than 100 years of business and real estate development experience with such brands as Wendy's, KFC and other quick service and fast casual brands.
With the agreement's first location slated to open in August 2011 in Pasadena, Md., and additional units planned for Greater Baltimore and Glen Burnie, Md., in the second quarter of 2012, Pilgrimage Development, LLC plans to target various markets throughout the Mid-Atlantic for the remainder of the agreement.
"This is the largest signed agreement our company has had to date, and it couldn't have come at a more ideal time as we strengthen the ZIPS name throughout the region and begin to expand nationwide," said Andy Cucchiara, Vice President of Franchise Operations for ZIPS Dry Cleaners. "Pilgrimage Development's extensive experience with nationally recognized brands puts us in a great position for solid, continuous growth over the coming years."
Recognized as "America's One Price Dry Cleaner," ZIPS' successful business model is based on a concept revolutionary to the industry and clearly in high demand to today's dry cleaning customer; dry cleaning that's ready for pick-up the same day it's dropped off - all for a flat-rate price of $1.99 that's half the industry average. To date, ZIPS has saved customers over $400 million on their dry cleaning bills and consistently outperforms the competition.
"We are thankful to have the opportunity to work with the ZIPS brand and its experienced management team. Not only is the financial model attractive, but the operational process is well thought out and efficient," said John Rusnak, President of Pilgrimage Development, LLC. "One thing is certain - ZIPS management knows dry cleaning. If we can work up to their standards, matching their perseverance and fortitude, our development agreement will progress swiftly and this venture will be a great success."
For more information on ZIPS Dry Cleaners, please visit www.321zips.com.
ZIPS, founded in 1996 and began franchising in 2006, has more than 28 locations on the East Coast. The company offers a fixed price of $1.99 for any garment to be dry cleaned and $1.19 for any shirt to be laundered. ZIPS offers same day service "In by 9 out by 5" with the motto, ".We take the sting out of dry cleaning." Furthermore, ZIPS is a cash only business which helps keep the price down for consumers and thus provides a large amount of inventory on a constant basis for the franchise owners (which can average nearly 3,000 garments per day). With less than 10 percent of total costs going towards supplies and inventory, ZIPS is proving that it is a hot investment. For more information, go to www.321zips.com.