November 07, 2014 // Franchising.com // ADDISON, Texas - Bar Louie, a neighborhood bar and eatery known for its handcrafted cocktails, local brews and craveable food, announced today the signing of a multi-unit area development agreement with new franchise partner, SHREE Enterprise Inc. The company is planning to expand the Bar Louie brand in Kentucky and Tennessee with a total of five restaurants.
"We've been looking forward to expanding in Kentucky and Tennessee and have found a great partner in SHREE Enterprise, LLC," said John Neitzel, chief executive officer of Bar Louie. "2014 has been a great year of growth, and we've experienced a surge in franchise interest. We look forward to continued development across the United States with our partners."
A successful multi-unit restaurant and hotel operator, SHREE Enterprise Inc. signed a five-store area development agreement that spans across Kentucky and Tennessee. Locations include two new restaurants in Louisville, Ky., one in Lexington, Ky., one in Clarksville, Tenn., and one in Knoxville, Tenn. Bar Louie expects the first location to open in the summer of 2015.
The company is currently experiencing solid growth with 4 projected new openings before the end of this year. In addition, Bar Louie has plans for nearly 100 new corporate and 100 franchise locations across the U.S. within the next five years. To further fuel expansion, Bar Louie is looking to develop on the West Coast with new restaurants in Arizona, Nevada, Oregon and California. Executives from Bar Louie will be available to discuss franchise opportunities with interested entrepreneurs at the Restaurant Finance & Development Conference in Las Vegas, NV on Nov. 10-12, booth #218.
With more than 85 Bar Louie locations across the country, the brand is dedicated to remaining a national brand with local appeal and delivering an unforgettable experience to every guest. Bar Louie features an exceptional selection of distinctly prepared food such as small plates, flatbreads, salads, sandwiches, burgers and large plates. While beer and wine connoisseurs enjoy a wide selection of imports, microbrews and over 20 wines by the glass, cocktail drinkers revel in signature martinis, mojitos and margaritas made from the highest quality ingredients, fresh fruit and hand squeezed juices.
Bar Louie is positioned to grow across the United States over the next several years. To fuel this growth, the company is seeking experienced multi-unit foodservice and retail operators with a passion for the industry who demonstrate community involvement and will be committed to day-to-day operations. Qualified franchisee candidates should possess a minimum net worth of $3 million and liquid assets of at least $1 million. Bar Louie franchisees can expect their initial investment to range from approximately $410,000 - $3 million.
Entrepreneurs interested in joining one of the fastest growing concepts in the country may contact Andy Gunkler, 816-305-7427 or Franchise@BarLouieAmerica.com or visit barlouieamerica.com/franchise.
Bar Louie, based in Addison, Texas, is a casual-dining bar and eatery located in the United States. Founded in 1990, Bar Louie has more than 85 locations across 25 states. The average unit volume for a Bar Louie is $2.5 million with an industry high average gross profit margin. The company was named to Nation's Restaurant News' 2013 Breakout Brands and Top 10 Newcomers lists. In addition, the company was awarded the 2011 Cheers Beverage Excellence Award for "Best Chain Overall Beverage Program". For more information, visit barlouieamerica.com/
SOURCE Bar Louie