SOURCE: Spicy Pickle Franchising, Inc.

November 13, 2007 16:10 ET

Spicy Pickle® Announces New Restaurant Opening in Indianapolis and Two New Lease Signings for First Quarter 2008

DENVER, CO--(Marketwire - November 13, 2007) - Spicy Pickle® fast casual restaurants (OTCBB: SPKL) today announced a new restaurant has opened in the last week, and two new leases have been signed for early 2008 openings. The new opening marks the 31st restaurant in the Spicy Pickle® chain. The new lease signings continue the growth momentum into 2008.

In the past week, a second Indianapolis restaurant has opened. It is located at 6020 E. 82nd Street, #1406, Indianapolis, Indiana, phone: (317) 578-8699. The restaurant is located at the newly redeveloped Castleton Simon property, a high-end retail area. This is the second restaurant in the Indianapolis area.

In addition, Spicy Pickle® management disclosed two new leases have been signed for 2007/2008 construction. Both locations are expected to open sometime in the first quarter of 2008.

The first is located in San Diego, California at 1454 Union Street. The restaurant will be located in the area bordering Little Italy and the Downtown Financial District, within 7 minutes of a large population of White Collar Workers. It will be on the ground floor level of a newly constructed condo building, which should lead to significant evening and weekend traffic. The San Diego franchisee has committed to a total of 12 restaurants in the San Diego area.

The second new lease signing will mark the third location in the Austin, Texas area. Located at 1325 E. Whitestone Place, Cedar Park, Texas, this restaurant is in a shopping center adjacent to a major medical center.

Marc Geman, CEO of Spicy Pickle® Franchising, Inc., commented: "The first Indianapolis restaurant is doing very well, and we anticipate the second restaurant will follow suit. We are now starting to make progress on our 2008 construction schedule. Both new lease signings should be open for business sometime in first quarter of '08. There are a number of additional properties in the final stages of negotiation in new states, and we will release their locations when leases have been signed."

By the end of 2007, Spicy Pickle® anticipates it will still be on track to have 38 to 40 restaurants open in 12 states. Over 50 additional franchise development agreements have also been signed.

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 franchise 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