Famous Dave’s of America, Inc., announces it has signed 3 multi-unit development agreements for an additional 18 franchise units in 8 states. These agreements expand the company’s presence in Illinois and Iowa and introduce Famous Dave’s into Georgia, Tennessee, Kentucky, Ohio, Florida and West Virginia. The company currently has franchise agreements totaling thirty-six committed franchise restaurants. The newest group of franchisees have multi-unit experience with established chains such as KFC, Papa Johns, Ruby Tuesdays and Hardees.
“In the first year of our franchise program, we have experienced major success, having secured commitments for thirty-six franchise units. We begin 2001 with a strong base of development and tremendous momentum in the franchise arena. We are excited by the commitment and operational experience that our franchisees have and look forward to our continued expansion,” said Martin O’Dowd, President and Chief Executive Officer, Famous Dave’s of America.
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Famous Dave’s of America, Inc. (NASDAQ:DAVE) owns, operates and franchises restaurants and clubs. The company currently owns 33 locations and franchises an additional 9 units in Minnesota, Wisconsin, Illinois, Iowa, Nebraska, Maryland and Virginia. Its menu features award-winning, barbecued and grilled meats, an ample selection of salads, side items, sandwiches and unique desserts.
Certain matters discussed within this press release, including statements regarding new restaurant sites, restaurant openings and expansion plans, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although Famous Dave’s of America, Inc. believes the expectation reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectation will be attained. Factors that could cause actual results to defer materially from Famous Dave’s expectation include financial performance, restaurant industry conditions, execution of restaurant development and construction programs, changes in local or national economic conditions, availability of financing and other risks detailed from time to time in the company’s SEC reports.
