Stevi Bís Inks Franchise Agreement to Add 10 New Locations
Along Floridaís East Coast
Experienced Florida Restaurant Operator to Open Restaurants
Throughout Next Three Years
West Palm Beach, Florida October 15, 2008 Ė Stevi B’s, America’s leading value- oriented, family pizza buffet franchise concept, announced today that it has signed a franchise development agreement with UMA Capital Investments, LLC to open 10 new locations along Florida’s eastern coast, from West Palm Beach north to Vero Beach. This is the second Stevi B’s multi-unit agreement signed in Florida in 2008, bringing the total number of locations planned for the state to 13. Florida’s future locations will join the Stevi B’s restaurant currently operating in Tallahassee.
“Florida’s eastern coast is prime for Stevi B’s expansion. We are thrilled about bringing the brand’s value-driven offerings, provided in a welcoming environment for adults and children, to communities along the southern and central coast,” said Andy Patel, managing member of UMA Capital Investments, LLC. “As an entrepreneur, I am excited about becoming part of the Stevi B’s family. The support Stevi B’s offers its franchisees, from real estate selection to store marketing, is a big reason why we wanted to invest in the concept.”
Already well established as a restaurant operator in Florida, Patel currently owns and operates 18 International House of Pancake (IHOP) franchise locations in the region. The company has a rapid growth plan, scheduling to open all ten of the Stevi B’s restaurants during the next three years, with the first slated to open within the next six to nine months.
UMA Capital Investments’ agreement comes on the heels of a recent three store deal with a franchisee in southern Florida. “We are building significant momentum throughout Florida,” said Jordan Krolick, president and CEO of Atlanta-based Stevi B’s. “Our growth along the east coast and in the south will be a catalyst for new Stevi B’s locations in the northern, central and western sections of the state as well.”
Expansion in Florida is part of the aggressive Stevi B’s growth strategy which calls for the system to exceed 100 units by 2013, maintaining a strong mix of both franchise and corporate-owned restaurant locations.
With original menu items such as Loaded Baked Potato pizza and a warm décor featuring stonework and granite countertops in an open kitchen environment, Stevi B’s breaks through the blasé of buffets with an exciting fast casual concept. Creative pizzas include the Cheeseburger Deluxe, Chicken Fajita, Macaroni and Cheese and more, and are complemented with a fresh and full salad bar and enticing dessert selections. Buffet prices for adults typically vary from $5 to $5.79 and from $2.99 to $3.29 for children. For adults, each Stevi B’s offers a laid back environment ideal for lunch and dinnertime discussions, and for children, the experience includes a retreat from the norm with a fun game zone.
Each store’s unwavering commitment to the community it serves further defines the Stevi B’s brand. On a nightly basis, all Stevi B’s locations offer to donate a percentage of sales to local school groups, community and religious organizations, local athletic teams and others.
About Stevi B’s
Stevi B’s, a national pizza buffet restaurant franchise, was founded in 1996 in Atlanta. Recently purchased by Argonne Capital, an Atlanta private equity firm focused on growing restaurant and retail companies that are market leaders with strong growth potential, Stevi B’s currently has 25 franchised and five company-owned locations in six states throughout the United States. With distinctive pizzas such as Loaded Baked Potato, Chicken Fajita, Cheeseburger Deluxe and Spinach Alfredo served fresh and at a great value in an atmosphere that is fun for adults and children, Stevi B’s is primed for growth throughout the United States.