Famous Dave’s of America, Inc., announced it has multi-unit development commitments for 12 franchise units in 7 states in its first six months of franchising. The company has opened 7 franchised locations this year bringing the current total commitments to 19 units nationwide. New franchise development will expand the company’s presence in Nebraska, Iowa, and Illinois and introduce Famous Dave’s into Nevada, Colorado, Arizona, North Dakota and South Dakota.
“Having 19 franchise units opened or committed for development after only six months of work speaks to the attractiveness of Famous Dave’s as a multi-unit franchising opportunity. We expect the franchise interest to only intensify as we expand across the country,” said Martin O’Dowd, President and Chief Executive Officer, Famous Dave’s of America.
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The company’s latest franchise agreement calls for three units to be developed by D.T.S.G., LLC. Their development will place Famous Dave’s restaurants in North and South Dakota and Las Vegas, Nevada.
Famous Dave’s of America, Inc. (NASDAQ:DAVE) owns, operates and franchises restaurants and clubs. The company currently owns 30 locations and franchises an additional 7 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. In addition to franchise commitments, the company plans to open an additional 4 owned and operated units in 2000.
Certain matters discussed within this press release, including statements regarding new restaurant sites, restaurant openings and expansion plans, may be 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.
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