MarketWatch:
Smashburger, a fast-casual “better burger” concept recently launched and funded with $15 million by private equity and concept development firm Consumer Capital Partners (CCP), has secured its first franchisee and “Founders Club” member, New Jersey-based Mascott Corporation. Mascott Corporation has over 20 years of experience in the region, and is currently a multi-unit operator of Popeyes Louisiana Kitchen, Carvel Ice Cream Stores, Cinnabon World Famous Cinnamon Rolls and Seattle’s Best Coffee (a Starbuck’s Brand), as well as their own Markers Restaurant and Markers Express. As a “Founders Club” member, Mascott will provide valuable field insight on Smashburger’s brand and menu development as well as operations and real estate. The “Founders Club” designation will be reserved for the first five large franchisees to join the Smashburger team.
“The “Founders Club” is an important component of our business model as we believe that tapping into the expertise of sophisticated, geographically dispersed, multi-unit operators can provide invaluable insight as we grow,” said David Prokupek, Managing Partner and Chief Investment Officer of Consumer Capital Partners. “We intend to grow our footprint nationally in the next year and the best way to do that is with the support of operators like Mascott who are well capitalized and have the depth and breadth of experience on the East Coast that will undoubtedly set us up for success in that part of the country.”
Mascott’s 30 franchise locations in New Jersey will complement Smashburger’s seven corporate locations in Denver and Ft. Collins, Colo. The Company plans to grow its corporate footprint to a total of 10-15 stores by the end of 2008 and as many as 30-60 stores by the end of 2009 on its way to achieving a strong national footprint.