The Greene Turtle Signs 11-Unit Development Agreement for New Jersey
Deal With Imperial Restaurant Group Will Bring the Popular Sports Bar and Grille to the Southern Half of the Garden State, Another Strategic Step Toward Expansion Throughout the Northeast
July 31, 2014 // Franchising.com // HANOVER, Md. - The Greene Turtle announced today that a group of investors with extensive quick-service and petroleum distribution/retail experience has signed an agreement to develop 11 units in New Jersey for the popular casual dining restaurant/sports bar chain, marking the first locations slated to open in the Garden State. The franchisees, operating as Imperial Restaurant Group LLC, consist of individuals with diverse business experiences and core competencies. The group will be led by Raj Rana, a former multi-unit QSR restaurant owner, and Balrup Hundal, Surinder Hundal and Parminder Singh, who operate a petroleum distribution business and more than 30 gas and convenience store locations, and will focus its development efforts on the southern half of New Jersey.
The multi-unit development agreement complements a 10-unit agreement for New York's Long Island signed in 2012 and represents another strategic step toward expansion throughout the Northeast. "We are thrilled to have secured a deal to bring The Greene Turtle to southern New Jersey, and equally excited about the franchise partners through whom we are doing it," says Tom Finn, Vice President of Franchise Business for The Greene Turtle. "We plan to establish a strong presence throughout the Garden State, giving fans who know us from their trips south a Turtle of their own, while introducing our concept to a whole new population of consumers."
Finn says New Jersey is ideal for development of The Greene Turtle. The company typically seeks out markets where it can successfully develop and operate multiple locations, based on existing competition, available real estate, proximity to professional sports teams as well as university and youth sports programs, and density of the young family demographic to which The Greene Turtle largely caters.
"This is an incredible opportunity for us and for our New Jersey neighbors," says Raj Rana. "My partners and I did a lot of research in looking for the perfect brand to develop here, and we are confident we've found a winner in The Greene Turtle. The Greene Turtle is more than your average sports bar and grille. It's a community hangout where people can have great food, choose between numerous craft and commercial brews and enjoy a lively atmosphere. We strongly believe in a community philosophy. Whether to sponsor a local team, boost a community project or host a charitable program, we are eager to contribute. We are very excited about this opportunity and expect New Jersey communities will fully embrace The Greene Turtle Sports Bar & Grille."
Currently, The Greene Turtle has 37 locations open in New York, Maryland, Virginia, Delaware and Washington, D.C. There are now 20 additional units contracted for New York and New Jersey. The chain is seeking experienced multi-unit investors to develop remaining markets in northern New Jersey and New York City, as well as markets in New England, Pennsylvania, West Virginia, Virginia, the Carolinas, Georgia and Florida.
The Greene Turtle enjoys strong brand awareness generated by the company's involvement in community sports programs and by its presence in high-traffic locations such as Ocean City, Md., Rehoboth Beach, Del., Baltimore-Washington International (BWI) Airport, and Washington, D.C.'s Verizon Center. In addition, its broad demographic appeal attracts seniors, baby boomers, couples, young families and groups of all ages. The concept's flexible format helps franchisees to secure the best available real estate and often shortens the time to open a restaurant.
Interested investors should contact Tom Finn at (443) 661-4298, ext. 104 or firstname.lastname@example.org. Information about available opportunities also can be obtained online at www.thegreeneturtle.com.
About The Greene Turtle Sports Bar & Grille® and The Greene Turtle Franchising Corp.
First opened in Ocean City, Md., in 1976, The Greene Turtle today includes 37 locations in Maryland, Washington, D.C., New York, Virginia and Delaware. Combining comfort food, a casual atmosphere and a sports bar theme marked by big screen TVs broadcasting local and national events, "The Turtle" has become a popular year-round destination where families, friends and fans of all ages feel at home. Information on locations, menus, special promotions and other features is available online at www.thegreeneturtle.com/franchise.php and www.facebook.com/thegreeneturtle. Fans can also join their favorite location's individual Facebook page for the latest news about special events and offers, or follow their local restaurant for updates on Twitter.
The Greene Turtle's franchise offering has remained on the prestigious Entrepreneur Magazine's prestigious Franchise 500 list of top opportunities since 2010. More recently, the concept was named a "best buy in restaurant brands" and one of the top 10 full-service franchise opportunities by FSR magazine (July 2013). Franchise opportunities with The Greene Turtle are available throughout the eastern United States to qualifying investors through The Greene Turtle Franchising Corp., whose majority stakeholder is JPB Capital Partners, a Columbia, Md.-based private equity partner for lower- to middle-market companies. Information on available opportunities may be found online at www.thegreeneturtle.com/franchise.php or by contacting Vice President of Franchising Tom Finn at (443) 661-4298, ext. 104, or email@example.com.
SOURCE The Greene Turtle Sports Bar & Grille®
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