Picklr has Agreements Signed for 110-Units

Estimated read time: 3 minutes and 10 seconds

Notable Loan: Matthew Bucaro and Michael Bucaro of Tauro Capital Advisors, just financed this portfolio of nine QSRs:

• Amount: $12,000,000 (50% LTV) @ 6.85% Fixed

• 10-Year Term | 30-Year Am | Yield Maintenance

PICKLE RICK

Cory Ellis, a franchisee of The Picklr, has signed a 60-unit agreement with the emerging pickleball brand. (Read Here)

Franchise growth: The Picklr, founded in 2021, currently has seven company-owned locations and has signed agreements for 110 units since launching its franchise program this year. Cory Ellis plans to develop 60 locations throughout the southeast.

💰 THE MONEY SHOT

Selective franchisees: The Picklr focused on finding franchisees who would be successful and prioritized their experience over location. Ellis, with franchising experience from his work in the solar industry and ownership of Blind Guy and Crumbl Cookies, will be opening the 60 agreed-upon locations in Florida, Georgia, the Carolinas, Virginia, Maryland, and Tennessee.

FUZZY WUZZY

Fuzzy's Taco Shop Expands with Franchisee Mark Justice to Open 20 Locations in Nevada. (Read Here)

Fuzz Ball: Multi-unit franchisee Mark Justice has signed a development agreement with Fuzzy's Taco Shop to bring 20 new restaurants to Nevada. Justice owns 65 IHOP locations in eight states and has Wingstop development deals in Massachusetts and Connecticut.

💰 THE MONEY SHOT

Growing the brand: Fuzzy's Taco Shop, now under Dine Brands, already has 138 franchise and corporate-owned locations in 19 states. With the addition of Justice's 20 new restaurants in Nevada, the brand's presence will continue to expand. Dine Brands Global, is also the parent company of Applebee’s and IHOP. With the three brands, it has more than 3,500 restaurants across 18 international markets.

PRET A WHO?

Pret A Manger, the U.K. quick-service sandwich and coffee chain, plans to expand its presence in the United States with a target of 300 stores by 2029. (Read Here)

Growing footprint: Pret A Manger currently has 58 locations in the U.S. and aims to accelerate growth through new equity shops and franchise agreements. The company has seen significant growth outside of urban centers in the UK, and plans to focus on regional and suburban areas in the U.S.

💰 THE MONEY SHOT

Partnership with Dallas International: Dallas International, an existing Pret franchisee, will have operational control of approximately 50 Pret shops in New York, Pennsylvania, and Washington, D.C. They also have exclusive rights to open new shops in these markets and intend to refurbish stores and explore drive-thru formats.

TRIPLE NET TENDIES

🧠 Thought Leader: Don McMinn of M&M shares his takeaways from the Southeast ICSC show

👂 Ear Hustle: Kyle Matthews interviews Strip Mall Guy

💎 Web Gem: Austin Blodgett of RealSource Group talks about WOW Carwash and their expansion strategy

NET LEASE NUGGIES

• Franchise Growth: Take 5 Oil Change hits milestone with 300th location and climbs rankings.

• Seafood Sensation: Captain D's dives into New York City with three franchise locations in the Manhattan market.

• BuyBuy Baby: Reopening with Elevated Shopping Experience; opens 11 stores after the company was purchased out of bankruptcy

• Toppers Pizza Expands with Dynamic Franchisee Corbett Harris: Toppers Pizza, known for its bold flavors and customer service, is opening seven locations in North Carolina.

• Robeks Expands in Arizona: Robeks, known for their nutritious and delicious blended smoothies, opens two new locations in Tempe and Avondale, bringing their total number of Arizona locations to nine.

MEME OF THE DAY