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BoeFly Selected To Assist Johnny Rockets Franchisees Obtain Bank Financing
Leading classic all-American restaurant franchisor to offer BoeFly’s Platinum Plan and Concierge Services to its franchisees nationwide
Nearly half (49.2%) of the respondents in a recent survey by the IFA of its members identified “financing/
Founded in 1986, the Johnny Rockets Group, Inc. is a global restaurant chain known for its simple, great-tasting food from a menu of all-American favorites that includes hamburgers, American Fries, classic sandwiches and award-winning shakes and malts. In addition to 69 restaurants in 17 non-U.S. countries, the brand currently boasts 216 domestic restaurants in 32 states, 23 of which are host to less than five locations.
“There is no doubt that the Johnny Rockets brand has a reputation that is much bigger than our footprint,” stated Tom Cuddyer, Manager of Financial Planning and Analysis for Johnny Rockets. “With restaurants located in amusement parks, on board cruise ships and in the heart of tourist destination centers, around the world, our visibility is very high, but we have a lot of room to grow. In fact, we currently have a number of exclusive development territories available for franchising, throughout the U.S.”
Cuddyer added, “Through BoeFly, we hope to help our franchise partners efficiently secure financing to help us achieve critical mass in key markets, allowing our company to recognize advertising efficiencies and allowing our guests to enjoy our dancing servers, bright, cheerful ambiance and menu of favorites at home, as well as where they travel to have fun.”
“Today, even top franchisors face a significant challenge – converting otherwise qualified franchisee candidates into ongoing, paying customers because of the difficulty they have accessing capital,” said Mike Rozman, Co-president of BoeFly. “Franchise lending has been down by as much as 40% in the past two years due in part to the inefficiencies in the lending process that has been exposed by the financial crisis. BoeFly eliminates these inefficiencies by connecting franchisees with banks that are ready and willing to lend.”
About Johnny Rockets Group
Johnny Rockets first opened, June 6, 1986, on Melrose Avenue, in Los Angeles, Calif., based on the belief that everyone deserves a place where they can escape from today’s complicated world and experience the uncomplicated goodness of classic Americana. Now an international restaurant chain, Johnny Rockets has about 300 corporate and franchise-owned restaurants in more than 30 states and 17 countries, including those found in Six Flags amusement parks and onboard Royal Caribbean cruise ships. Every Johnny Rockets restaurant serves simple, great-tasting food from a menu of all-American favorites, including juicy hamburgers, crispy American Fries, classic sandwiches and rich, delicious shakes and malts. For more information, please visit www.johnnyrockets.com.
BoeFly makes it easier to obtain small business loans (http://www.boefly.com/
Borrowers build a complete decision-ready loan request online using BoeFly’s exclusive “SmartForm”
BoeFly, now a strategic ally of the International Franchise Association to expand credit access within the franchise community (http://www.boefly.com/
BoeFly’s Affiliate Solution is the financing exchange chosen by the Association of Small Business Development Centers, representing approximately 1,000 centers nationwide, which are funded in part by the U.S. Small Business Administration, to serve small businesses, and Franchise Gator, the leading site for information on franchise opportunities.
BoeFly was founded by small business owners and small business lending experts with extensive small business lending experience. The company is privately-held and is based in New York City. http://www.boefly.com.
Bill Fallon | keating/co. | 212.925.6900 | firstname.lastname@example.org