Happy Belly's Joey Turks Island Grill Signs Three-Unit Franchise Agreement in Scarborough, Ontario
Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) has announced a three-unit franchise agreement for Joey Turks Island Grill in Scarborough, Ontario. This follows the opening of the first Joey Turks franchised location on August 14th, 2024. The agreement demonstrates confidence in the brand and validates the company's strategy in the Caribbean food market.
Sean Black, Chief Investment Officer, highlighted the rapid expansion of Joey Turks, including a 30-unit Area Development agreement in Ontario. With this new agreement, Joey Turks will have five units in total. Happy Belly's franchising program aims to drive both top and bottom-line profitability, supported by a robust support system and proven business model.
The company has an initial pipeline of 376 contractually committed retail locations across its emerging brands portfolio, indicating significant growth potential in its asset-light franchising model.
Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ha annunciato un accordo di franchising per tre unità per Joey Turks Island Grill a Scarborough, Ontario. Questo segue l'apertura della prima sussidiaria di Joey Turks il 14 agosto 2024. L'accordo dimostra la fiducia nel marchio e convalida la strategia dell'azienda nel mercato alimentare caraibico.
Sean Black, Chief Investment Officer, ha evidenziato la rapida espansione di Joey Turks, compreso un accordo di sviluppo dell'area per 30 unità in Ontario. Con questo nuovo accordo, Joey Turks avrà cinque unità in totale. Il programma di franchising di Happy Belly mira a generare sia profitti annuali che netti, supportato da un robusto sistema di supporto e un modello di business collaudato.
L'azienda ha un portafoglio iniziale di 376 posizioni retail contrattualmente impegnate attraverso il suo portafoglio di marchi emergenti, indicando un significativo potenziale di crescita nel suo modello di franchising a basso investimento.
Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ha anunciado un acuerdo de franquicia de tres unidades para Joey Turks Island Grill en Scarborough, Ontario. Esto sigue la apertura de la primera ubicación franquiciada de Joey Turks el 14 de agosto de 2024. El acuerdo demuestra la confianza en la marca y valida la estrategia de la empresa en el mercado de alimentos del Caribe.
Sean Black, Director de Inversiones, destacó la rápida expansión de Joey Turks, incluyendo un acuerdo de desarrollo de zona de 30 unidades en Ontario. Con este nuevo acuerdo, Joey Turks tendrá cinco unidades en total. El programa de franquicias de Happy Belly busca impulsar tanto la rentabilidad bruta como neta, respaldado por un sólido sistema de apoyo y un modelo de negocio comprobado.
La empresa cuenta con un pipeline inicial de 376 ubicaciones minoristas comprometidas contractualmente a través de su cartera de marcas emergentes, lo que indica un crecimiento significativo en su modelo de franquicia liviano.
Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF)는 온타리오 주 스카버러에 위치한 Joey Turks Island Grill에 대한 3개 단위 프랜차이즈 계약을 발표했습니다. 이는 2024년 8월 14일에 첫 번째 Joey Turks 프랜차이즈 매장이 개장한 것에 이은 것입니다. 이 계약은 브랜드에 대한 신뢰를 보여주며 카리브 음식 시장에서 회사의 전략을 검증합니다.
Sean Black, 최고 투자 책임자는 온타리오에서 30개 단위 지역 개발 계약을 포함하여 Joey Turks의 빠른 확장을 강조했습니다. 이번 새로운 계약을 통해 Joey Turks는 총 5개 매장을 갖게 됩니다. Happy Belly의 프랜차이즈 프로그램은 강력한 지원 시스템과 입증된 비즈니스 모델을 바탕으로 매출과 순이익 모두를 증가시키는 것을 목표로 합니다.
회사는 초기 파이프라인으로 376개의 계약이 체결된 소매 위치를 확보하고 있어 자산이 가벼운 프랜차이즈 모델에서 상당한 성장 가능성을 나타냅니다.
Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) a annoncé un accord de franchise pour trois unités pour Joey Turks Island Grill à Scarborough, Ontario. Cela fait suite à l'ouverture du premier emplacement franchisé de Joey Turks le 14 août 2024. Cet accord démontre une confiance dans la marque et valide la stratégie de l'entreprise sur le marché alimentaire des Caraïbes.
Sean Black, directeur des investissements, a souligné la rapide expansion de Joey Turks, y compris un accord de développement de zone de 30 unités en Ontario. Avec ce nouveau contrat, Joey Turks comptera cinq unités au total. Le programme de franchise de Happy Belly vise à générer à la fois rentabilité brute et nette, soutenu par un système de soutien robuste et un modèle commercial éprouvé.
L'entreprise dispose d'un pipeline initial de 376 emplacements de vente au détail contractualisés dans son portefeuille de marques émergentes, indiquant un potentiel de croissance significatif dans son modèle de franchise léger.
Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) hat eine Drei-Einheiten-Franchise-Vereinbarung für Joey Turks Island Grill in Scarborough, Ontario, angekündigt. Dies folgt der Eröffnung des ersten franchisierten Standorts von Joey Turks am 14. August 2024. Die Vereinbarung zeigt Vertrauen in die Marke und bestätigt die Strategie des Unternehmens im karibischen Lebensmittelmarkt.
Sean Black, Chief Investment Officer, hob die schnelle Expansion von Joey Turks hervor, einschließlich eines Gebietsentwicklungsvertrags über 30 Einheiten in Ontario. Mit dieser neuen Vereinbarung wird Joey Turks insgesamt fünf Einheiten haben. Das Franchise-Programm von Happy Belly zielt darauf ab, sowohl den Umsatz als auch den Nettogewinn zu steigern, unterstützt von einem robusten Unterstützungssystem und einem bewährten Geschäftsmodell.
Das Unternehmen verfügt über ein anfängliches Pipeline von 376 vertraglich gebundenen Einzelhandelsstandorten im Portfolio seiner aufstrebenden Marken, was auf ein erhebliches Wachstumspotenzial seines asset-light-Franchising-Modells hinweist.
- Signed a three-unit franchise agreement for Joey Turks Island Grill in Scarborough, Ontario
- Opened the first Joey Turks franchised location on August 14th, 2024
- Existing franchisee's multi-unit agreement shows confidence in the brand
- Total of five units (corporate and franchised) for Joey Turks after this agreement
- Initial pipeline of 376 contractually committed retail locations across all emerging brands
- None.
Toronto, Ontario--(Newsfile Corp. - August 20, 2024) - Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company"), a leading consolidator of emerging food brands is pleased to announce it has signed as of August 19th, 2024, our first multi-unit franchise agreement for Joey Turks Island Grill ("Joey Turks") a fast casual restaurant serving delicious original Caribbean Island recipes. The agreement is with our existing Scarborough franchisee acquiring the exclusive rights to open an additional three (3) locations in Scarborough, Ontario. The first ever Joey Turks franchised location opened in Scarborough on August 14th, 2024.
Joey Turks
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"As we continue to accelerate organic growth and expand the footprint of our brands through our asset-light franchising strategy, we are able to move quickly and capitalize on the considerable interest and inquiries from potential franchisees. A signed multi-unit agreement from our existing franchisee shows a tremendous amount of confidence, brand adoption, and validates the open ice we saw in the Caribbean market with no national brand leader before entering this space just over a year ago," said Sean Black, Chief Investment Officer of Happy Belly. "Joey Turks has that chance to become a nationally recongnizged Caribbean brand in Canada. We have laid the foundation of growth since launching the brand from initial concept by opening our first corporate location, signining a 30-unit Area Development agreement in Ontario for accelerated expansion, opened our first franchised location and now signed a multi-unit agreement. These are tremendous accomplishments in a short period and truly demonstrates the franchisee support for our brand while reflecting Happy Belly's dedication to serving and supporting its franchisees as part of the Happy Belly family."
"With the addition and completion of this multi-unit agreement, Joey Turks will have a total of five (5) units comprised of corporate and signed franchised agreements. As progress unfolds, we look forward to revealing specifics about our initial real estate locations. Our approach has always been to focus on the development and growth of emerging brands in the food sector. It is anticipated that our franchising program will deliver new franchised locations that will continue to drive both the top line and bottom line of Happy Belly's profitability."
Joey Turks 2
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"The success of our franchising program (that we are witnessing today) is reflected in the consistent expansion of our brands across Canada, while maintaining the high level of interest generated from both new and existing franchisees. This achievement is attributed to the robust support system, proven business model, and strong brand reputation that Happy Belly provides. Franchisees benefit from comprehensive training, ongoing mentorship, and a wealth of resources that equip them to effectively run their businesses. The program's ability to reduce the risks typically associated with entrepreneurship while offering a clear path to profitability attracts a steady stream of investors eager to join. Additionally, the enthusiasm of current franchisees to increase their ownership and commitment to the brand further underscores the program's effectiveness and appeal. This combination of factors drives our franchise's growth, ensuring sustained success and a thriving franchise network."
"With an initial pipeline of 376 contractually committed retail locations across all emerging brands in the Happy Belly Portfolio, our team is heads down sourcing and continually reviewing real estate locations, combing through franchisee applications, and working hand in hand with our area developers to accelerate the growth of our asset light franchising model.
We are just getting started.
For franchising inquiries please see www.happybellyfg.com/franchise-with-us/ or contact us at hello@happybellyfg.com.
About Joey Turks Island Grill
Joey Turks is your flavorful journey through the islands of the Caribbean, where the warmth and soul of every irresistible bite awaits. Our mission is to unlock the potential for widespread appreciation of authentic Island cuisine through a growing chain of island inspired restaurants. Joey Turks offers a tantalizing island-inspired menu, featuring a diverse array of dishes bursting with irresistible flavors. From savory jerk chicken and succulent island beef stew our menu captures the essence of the islands in every bite. Come Taste Paradise!
About Happy Belly Food Group
Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company") is a leading consolidator of emerging food brands.
Happy Belly Food Group
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Happy Belly Food Group
Shawn Moniz
Chief Executive Officer
FOR FURTHER INFORMATION, PLEASE VISIT:
www: www.happybellyfg.com or email hello@happybellyfg.com
If you wish to contact us please call: (604) 737-2303
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.
Cautionary Note Regarding Forward-Looking Statements
All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company within the meaning of applicable securities laws. Forward-Looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur, and include the future performance of Happy Belly and her subsidiaries. Forward-Looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the business plans for Happy Belly described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on www.sedarplus.ca.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/220538
FAQ
What is the new franchise agreement for Joey Turks Island Grill announced by Happy Belly Food Group (HBFGF)?
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What is the initial pipeline of contractually committed retail locations for Happy Belly Food Group (HBFGF)?
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