STRATEGIC PARTNERS
January 25, 2004
ST. PETERSBURG, Fla.—Rock Bottom Restaurants Inc., owner of the 53-unit Old Chicago pizza restaurant chain, wants to open 15 units in the Tampa Bay area beginning this year.
According to the Tampa Bay Business Journal, Florida Restaurant Concepts Inc (FRCI), bought market development rights for $225,000 ($15,000 per restaurant) from the Louisville, Colo.-based franchisor. Franchise fees are $35,000 per restaurant.
The first area Old Chicago will open in Brandon, Fla., Jan. 26, followed by two other units this year. FRCI expects to maintain that three-store-per-year opening pace over the coming years.
Old Chicago restaurants in Florida will average 6,500 square feet, seat about 250 patrons and generate about $2.3 million per year.
The chain is known for its deep-dish pizza, as well as a beer menu offering 110 varieties. Beverage options comprise 37 percent of nationwide sales. Its World Beer Tour club has more than 450,000 members.
