The corporate restaurant chain of Spicy Pickle (OTCBB: SPKL) recently announced that they have sold the rights to develop seven Spicy Pickle restaurants in San Antonio, Texas.
With the sale of the seven new restaurants, Spicy Pickle now has a total of 128 franchise and corporate restaurants. Currently the Company has 36 restaurants open and many more in construction, lease negotiations, and site selection. In the state of Texas alone, there are 25 current and future Spicy Pickle locations, more than the 23 in the home state of Colorado.
The company has multi store commitments signed in Chicago, Los Angeles, Houston, Michigan, and most recently, San Antonio. The most shocking aspect of this is that it has taken place when market conditions are taking a heavy blow.
“Our Austin, Texas restaurants have done very well, and their success fostered interest in Houston and San Antonio. Our third restaurant in Austin is close to opening, and we have begun the site selection process in Houston,” stated Marc Geman, CEO of Spicy Pickle Franchising, Inc.
“We are proving out our evolution to the multi unit ownership model. It provides efficient use of personnel, communication, distribution, and marketing. The more restaurants we build in larger areas, the easier and more cost efficient the construction, distribution, branding, marketing, and training becomes. Texas is our first state outside of Colorado where these efficiencies will start working,” he added.
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