SOURCE: Spicy Pickle Franchising, Inc.

September 27, 2007 16:05 ET

Spicy Pickle Announces New Franchise Signing

New Store Marks Florida as the 15th State

DENVER, CO--(Marketwire - September 27, 2007) - Spicy Pickle® fast casual restaurants (OTCBB: SPKL) today announced it has signed its first franchisee in the state of Florida.

A new franchisee with restaurant experience in another concept has entered into a franchise agreement to open the first Spicy Pickle Restaurant in the Ocala/Gainesville region of central Florida.

The Spicy Pickle real estate acquisition department is in the Ocala/Gainsville area now reviewing demographic studies and identifying potential locations.

Marc Geman, CEO of Spicy Pickle Franchising, Inc, commented: "We are excited to have our first franchisee in the state of Florida. The state of Florida can support a significant number of stores, and having our first location could act as a springboard to additional franchisees and help us penetrate other regions within the state."

Mr. Geman further commented, "Much like our very successful Boulder, Colorado location, the Ocala/Gainsville area offers a similar demographic with a high concentration of University, Medical, and Research facilities. This also marks the 15th state in which there will be a Spicy Pickle Restaurant."

By the end of 2007, Spicy Pickle anticipates opening approximately 14 more units, bringing its network to 40 restaurants in 13 states. Nearly 50 additional franchise development agreements have also been signed.

In addition to its franchise activity, Spicy Pickle currently has a breakfast menu in test, potentially opening a new daypart for the chain. The company is also in the process of building a major commissary in Denver to cost-effectively supply its local restaurants with panini, sandwich breads and sweet treats, baked daily according to Spicy Pickle's high standards. All other units nationwide will continue to bake their panini and sandwich breads in-house. The Denver commissary is expected to open by the end of the year.

About Spicy Pickle:

Founded in 1999, Spicy Pickle Franchising, Inc. (OTCBB: SPKL) serves high quality meats and fine artisan breads, baked fresh daily, along with a wide choice of eight different cheeses, twenty-two different toppings, and fourteen proprietary spreads to create healthy and delicious panini and sub sandwiches with flavors from around the world. As a leading "fast-casual" concept, Spicy Pickle offers menu items that are far beyond traditional fast food -- but without the price point of casual dining. The hallmark of a Spicy Pickle restaurant is quality, service and an enjoyable atmosphere. The company is headquartered in Denver, Colorado, with franchised locations now open across nine states and many more in development nationwide. For more about Spicy Pickle, including franchise information and inquiries, visit http://www.spicypickle.com.

Forward-Looking Statements:

Certain statements in this press release, including statements regarding the number of restaurants we intend to open, are forward-looking statements. We use words such as "anticipate," "believe," "could," "should," "estimate," "expect," "intend," "may," "predict," "project," "target," and similar terms and phrases, including references to assumptions, to identify forward-looking statements. The forward-looking statements in this press release are based on information available to us as of the date any such statements are made and we assume no obligation to update these forward-looking statements. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those described in the statements. These risks and uncertainties include, but are not limited to, the following: factors that could affect our ability to achieve and manage our planned expansion, such as the availability of a sufficient number of suitable new restaurant sites and the availability of qualified franchisees and employees; risks relating to our expansion into new markets; the risk of food-borne illnesses and other health concerns about our food products; changes in the availability and costs of food; changes in consumer preferences, general economic conditions or consumer discretionary spending; the impact of federal, state or local government regulations relating to our franchisees and employees, and the sale of food or alcoholic beverages; the impact of litigation; our ability to protect our name and logo and other proprietary information; the potential effects of inclement weather; the effect of competition in the restaurant industry; and other risk factors described from time to time in our SEC reports.

Contact Information

  • COMPANY CONTACT:
    Marc Geman
    CEO
    Spicy Pickle Franchising, Inc.
    303-297-1902 Ext. 7000
    Email Contact