PHOENIX, March 1, 2005 (PRIMEZONE) -- Franchise Capital Corporation (OTCBB:FCCN) today announced that portfolio investment Kokopelli Mexican Grill Franchise Company LLC, operator and franchiser of Kokopelli Mexican Grill, a fast-casual Sonoran restaurant, has entered into a five-unit development agreement with an Ohio based developer for the greater Toledo and Northwest Ohio markets.
"The nationwide growth of Kokopelli Mexican Grill is gaining momentum, and the Toledo development agreement demonstrates our commitment to expand to markets across the United States. Shareholders should expect additional future agreements to bring this unique fast-casual dining experience to areas that have been identified as ideal for the Kokopelli brand. Franchise Capital Corporation will continue to facilitate the growth of this and our other emerging franchise concepts, and we expect that the revenue generated from the spread of Kokopelli restaurants will increase the value of our portfolio investment and benefit our shareholders," commented Franchise Capital Corporation Chief Executive Officer Bradford Miller.
Kokopelli's was founded in Phoenix, Arizona in 1997 and differentiates itself from other fast-casual chains by serving authentic hand-blended Sonoran spices, beans slow cooked everyday, never refried and tortillas steamed to order. All food is served to its customers "platter" style on hard plates with flatware. Additionally, Kokopelli serves menu items found in full service Mexican restaurants such as Grilled Salmon with Mango Salsa, Steak Verde with Tomatilla Salsa, Pollo Colorado with Smoked Cheese and Peppers, beer, wine and frozen-margaritas.
"Kokopelli is positioning itself for equally strong lunch and dinner sales. Experience has shown that the key to driving customers into fast-casual restaurants at dinner time is to serve food on plates and let them eat with a real knife and fork," said Mr. Miller.
Kokopelli's southwestern theme, consistent with the culture of Arizona, has been developed for the entire restaurant including the signage, interior design and exterior appearance. The restaurant is geared towards creating a smooth and simplified ordering process and easily introducing the customer to Kokopelli Mexican Grill. The exterior signage and facade support street-level branding of the restaurant and provide strong clues to the interior's character and personality. An easy-to-read menu board has been developed along with streamlined point of purchase advertising materials and miscellaneous signage.
Kokopelli's offers made-to-order big-burritos, tacos, fajitas, and other Sonoran favorites, using only the freshest ingredients using no preservatives, additives or conditioners on a dine-in and take-out service in high volume retail centers and other high traffic commercial locations throughout the United States.
About Franchise Capital Corporation:
Franchise Capital Corporation is a Business Development Company pursuant to Section 54 of the Investment Company Act of 1940. The company currently has five operating, synergistic investments holdings: Kokopelli's Mexican Grill Franchise Company, LLC; Cousin Vinnie's Franchise Company, LLC; Kirby Foo's Asian Grill Franchise Company, LLC; Comstock Jake's Franchise Company, LLC; and Fathom Business Systems, Inc., all of which are engaged in business related to restaurant franchise development.
Safe Harbor Statement: The statements in this release that relate to future plans, expectations, events, performance, and the like are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934. Actual results or events could differ materially from those described in the forward-looking statements due to a variety of factors, including those set forth in the company's report on Form 10-KSB for fiscal year 2004 filed with the Securities and Exchange Commission.