News

Moe's Southwest Grill Continues to Grow

20-Store Franchise Deal Signed for Northern Virginia/Washington D.C. Area  

February 15, 2005

2/16/2005 8:08:00 AMATLANTA, Feb 16, 2005 (BUSINESS WIRE)-- Moe's Southwest Grill, the fastest growing fast-casual restaurant concept in the country, announces today that it has signed a 20 store deal for the Northern Virginia/Greater Washington D.C. territory. With over 800 franchise deals in development, Moe's in on-pace to open 150 additional units in 2005, further solidifying that it is the steam engine of the Tex-Mex category. This franchise deal joins three others already represented in the area. Together, the four groups will introduce 32 Moe's locations to Virginia/Greater D.C. Appealing to a more health-conscious public, Moe's is focused on freshness: there are no freezers or microwaves at any of the locations, and everything on the menu is made fresh daily. Moe's features burritos, tacos, quesadillas and salads - with a choice of grilled tofu, chicken or steak. Moe's also offers vegetarian items, a kid's meal and adult beverages. "Franchisees continue to respond enthusiastically to the Moe's model, which remains one of the most financially attractive in the industry," explains Matt Andrew, Chief Financial Officer, Raving Brands, parent of Moe's. "We boast a lower point of entry than our competitors coupled with solid franchise support. Additionally, as a multi-brand portfolio, Raving Brands is able to leverage multi brand development to win superior real estate for our restaurants." Future locations are part of a booming fast-casual market that NPDFoodworld has reported as a rapidly growing $7 billion category. Also referred to as fast-casual or quality quick-serve, the segment combines the quality of sit-down food with the speed and convenience of fast food. Generally, fast casual restaurants feature counter service with more comfortable seating than typical fast food restaurants. Industry experts expect this segment to reach $100 billion by 2015 - half the time it took casual dining and just a quarter of the time it took fast food to hit the same mark.About Moe's Southwest GrillMoe's Southwest Grill offers fun, fresh Tex-Mex cuisine with a healthy twist. The Atlanta-based company was founded by Martin Sprock in December 2000 and currently has 200 restaurants in operation and 800 franchise units signed for 38 states. Moe's Southwest Grill was presented with the 2004 "Hot Concepts!" award. "Hot Concepts!" is presented by Equal® and managed and produced by Nation's Restaurant News. Moe's Southwest Grill is part of Raving Brands, which also franchises Mama Fu's Asian House, Planet Smoothie, PJ's Coffee, Shane's Rib Shack, Doc Green's Gourmet Salads and soon-to-open Boneheads Seafood. For more information, visit the company's web site at www.moes.com.source:Moe's Southwest Grill