- Last Trade: $0.383
- Change: -0.027
- Open: $0.42
- High: $0.43
- Low: $0.38
- Volume: 70223
MIAMI, Florida, (PRNewswire) - GRILLiT, Inc. (OTC: GRLT) (the "Company") today announced its master franchise strategy and plan. The Company said that with its new Chief Executive Officer, Ghazi Hajj, now in charge, it is ready to announce the franchise program and begin its implementation.
The Company's franchise plan calls for at least 58 franchised locations across eight states over the next five years, which the Company plans to fund through a combination of drawdown funds from its credit facility with TCA Global Credit Master Fund (announced July 25, 2013) and operating income. GRILLiT currently has master franchise agreements in Kentucky, Ohio, New Hampshire, New Jersey, Georgia, Pennsylvania, Tennessee, and North Carolina, and is actively seeking franchise operators. The master franchise agreements each have a development schedule that the master franchisee must follow which varies from state to state based on population, which typically calls for 1-2 stores to be opened within year one and 5-8 stores to be opened each year after year five. The initial level of franchise activity is overseen by the existing GRILLiT management team. The Company expects the need to hire one franchise operations supervisor for every 15 stores opened.
"Our franchise plan is obviously a big part of our future," stated GRILLiT Chairman and CEO, Ghazi Hajj. "Our goal is to have a 70% franchise to 30% corporate store ratio. The Company has been signing up new franchisees since earlier this spring, but it has purely been through word of mouth. One of my first objectives was to lay out a solid franchise plan - based on my experience - and set it into motion."
The Company plans to announce the details of its first franchised location this Monday.
Interested potential master franchisees and franchise owner/operators should contact the Company at email@example.com.
GRILLiT (GRLT) is a growing Latin-Caribbean fusion restaurant concept that marries fast casual to nutritious and healthy food. The company opened its first location in Miami in 2011 and specializes in chef-inspired custom crafted rice bowls, pasta and wraps as well as salads. GRILLiT utilizes domestic growers and delivers healthy cuisine using only fresh proteins, such as never-frozen chicken and Angus beef. Restaurants offer an inviting and comfortable atmosphere with an open kitchen and contemporary, industrial design. GRILLiT currently has two locations and expects to have at least 21 corporate and 58 franchised locations open and operating within the next five years. The company is targeting Florida, North Carolina, New Jersey, Pennsylvania, New Hampshire, Ohio, Kentucky, Tennessee and Georgia for new growth. For more information, visit http://www.grillitinc.com
Forward Looking Statements:
Statements in this press release that are not purely historical facts, including statements regarding GRILLiT's beliefs, expectations, intentions or strategies for the future, may be "forward-looking statements" under the Private Securities Litigation Reform Act of 1996. Such statements consist of any statement other than a recitation of historical fact and can be identified by the use of forward-looking terminology such as "plan", "may", "expect", "anticipate", "intend", "estimate" or "continue" or the negative thereof or other variations thereof or comparable terminology. The reader is cautioned that all forward-looking statements are speculative, and there are certain risks and uncertainties that could cause actual events or results to differ from those referred to in such forward-looking statements. This disclosure highlights some of the important risks regarding our business. Specifically, the reader should not place undue reliance on statements regarding our ability to build a chain of health-conscious fast-casual restaurants. Additionally, there are number of other risk factors relating to our business more fully explained identified by us in our filings with the OTC Markets, which are available through http://www.otcmarkets.com
CONTACT: Robert L. Tucker Director of Corporate Development firstname.lastname@example.org Tel: +1(305)514-0326 Facebook: https://www.facebook.com/FreshGRILLiT
SOURCE GRILLiT, Inc.
FN Media Group LLC (FNMG) owns and operates FinancialNewsMedia.com (FNM) which is a third party publisher that disseminates electronic information through multiple online media channels. FNMG's intended purposes are to deliver market updates and news alerts issued from private and publicly trading companies as well as providing coverage and increased awareness for companies that issue press to the public via online newswires. FNMG and its affiliated companies are a news dissemination and financial marketing solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNMG's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. An offer to buy or sell can be made only with accompanying disclosure documents from the company offering or selling securities and only in the states and provinces for which they are approved. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. The companies that are discussed in this release may or may not have approved the statements made in this release. Information in this release is derived from a variety of sources that may or may not include the referenced company's publicly disseminated information. The accuracy or completeness of the information is not warranted and is only as reliable as the sources from which it was obtained. While this information is believed to be reliable, such reliability cannot be guaranteed. FNMG disclaims any and all liability as to the completeness or accuracy of the information contained and any omissions of material fact in this release. This release may contain technical inaccuracies or typographical errors. It is strongly recommended that any purchase or sale decision be discussed with a financial adviser, or a broker-dealer, or a member of any financial regulatory bodies. Investment in the securities of the companies discussed in this release is highly speculative and carries a high degree of risk. FNMG is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks.
This release is not without bias, and is considered a conflict of interest if compensation has been received by FNMG for its dissemination. To comply with Section 17(b) of the Securities Act of 1933, FNMG shall always disclose any compensation it has received, or expects to receive in the future, for the dissemination of the information found herein on behalf of one or more of the companies mentioned in this release. For current services performed FNMG has been compensated two thousand seven hundred fifty dollars for coverage of this news release by GRILLit, Inc. (GRLT). FNMG HOLDS NO SHARES OF GRILLit, Inc. (GRLT).
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNMG