Lime Fresh Mexican Grill is set to open five new locations this year, doubling its unit count.
Founded in 2004 by John Kunkel, 38, there are now five locations operating in South Florida. Two of the five new locations are expected to open this spring in downtown Miami and Dadeland, Fla. Ten more locations are on the horizon in Florida for 2011 and later.
"We knew we had struck a chord with Lime very early on," Kunkel said. "By working hard and providing a great quality product, Lime evolved into a brand that has thankfully been just as well suited for tough economic times as for boon years. We wanted to move slowly with our franchising process, guiding it carefully to make certain that we were able to retain all of the core values that have helped Lime become the success that it is today."
According to the company, Lime's average unit volume is upward of $2 million. Square footage is approximately 1,800 to 2,400 square feet, and investors must have a minimum net worth of $2 million, among other guidelines. The estimated initial investment (exclusive of real estate) runs between $544,000 - $730,000 per unit.
