Greene Turtle Inks 10-Unit Expansion Deal
The Greene Turtle announced today that a group of investors with more than 30 combined years of corporate management experience and ties to multiple global and regional quick-service and fast-casual restaurant franchises has signed a franchise agreement for the development of 10 units in Montgomery, Bucks, Lehigh and Northampton Counties, the areas surrounding Philadelphia. Operating as The Integritty Group, franchisees Pranav Desai, Jiger Patel, and Rajan Mahadevia are currently seeking properties and expect to open their first location in the spring of 2016.
“We are delighted to announce that as a continuation of our expansion beyond our Mid-Atlantic hub, we have secured a deal to establish a significant presence in Eastern Pennsylvania,” says Tom Finn, vice president of franchise business for The Greene Turtle. “In The Integritty Group’s partners, we have aligned with a team of very strategic thinkers who have extensive management background, including roles at IBM, and who are already familiar with the markets where they’ll be introducing our concept through their involvement in other restaurant systems. We feel strongly that they will be a great addition to our system and are perfectly qualified to bring The Greene Turtle to Pennsylvania.”
Pranav Desai said he and his business partners have been eyeing The Greene Turtle since before the chain began franchising. With business activity frequently taking them to Maryland and Washington, D.C., he said, the partners had dined at The Greene Turtle in the past and had long been intrigued by its offering. When they learned that the chain was looking to franchise its concept in their market, he says, they approached the company to explore opportunities.
“Once we began researching the concept, we really liked what we saw,” he said. “We always wanted to get into a sports-themed concept and I liked that The Greene Turtle has intense brand loyalty and a broad appeal, especially with a stronger family demographic among its core customers. We also liked that the chain has a lot of room to grow in this market, and were impressed by the strong management in place and the fact that the corporate team has a good relationship with their other franchisees, It seemed like a great extension of our existing business mix.”
The Greene Turtle enjoys strong brand awareness generated by the company’s involvement in community sports programs and by its presence in high-traffic locations such as Ocean City, Maryland; Rehoboth Beach, Delaware; Baltimore-Washington International (BWI) Airport; and Washington, D.C.’s Verizon Center. The concept’s flexible format helps franchisees to secure the best available real estate and often shortens the time to open a restaurant.
Earlier this month, The Greene Turtle opened its 40th location. There are more than 40 additional locations already committed to for development by franchisees in Maryland, Virginia, New Jersey, New York, and Pennsylvania, including those covered in an 11-unit deal signed last year in South and Central New Jersey and in a separate 10-unit deal for New York’s Long Island. Finn says the chain is seeking experienced multi-unit investors to develop northern New Jersey and New York City, as well as markets in New England, Pennsylvania, West Virginia, Virginia, the Carolinas, Georgia, and Florida.