Chanticleer Holdings owns and operates Hooters branded restaurants in emerging international markets, instituting a selective partnership strategy to pursue new expansion opportunities.
With its current international territories in South Africa, Australia, and Hungary, HOTR management believes it could grow to have more than 75 Hooters locations worldwide. Determining exactly where to open shop involves locating territories fitting a select set of criteria.
HOTR seeks territories that do not have existing franchisee or a territory where it has the opportunity to partner with a current franchisee. These locations must consist of strong local market dynamics with compelling economic growth rates and demographics, which is why HOTR has its eyes on the Brazilian market, among others.
Targeting three of the most populous states in Brazil, HOTR has partnered with Wings Brasil Ltd. to develop a presence in:
• Rio de Janeiro – home to approximately 6 million residents; host of the 2014 FIFA World Cup; host of the 2016 Summer Olympic Games
• Minas Gerais – the second most populous state in Brazil, with more than 20 million residents
• Espirito Santo – home to approximately 3.5 million residents, located along the southwest coast of Brazil
HOTR estimates market opportunity in Brazil at 40 restaurants, and plans to plant its first location in Rio de Janeiro in the second quarter of 2013.
The company also looks to establish partnerships with highly experienced and well-capitalized restaurant operators in the local international market and focuses on potential restaurant locations that boast attractive leasehold economics.
Leveraging these criterions as a guide, HOTR projects to have 10 Hooters restaurants in operation by 2013, reflecting growth of 66 percent as compared to six restaurants in operation as of December 31, 2012.
For more information, visit www.chanticleerholdings.com
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