Nashville-based Captain D's plans to open a total of 60 restaurants in Detroit, according to Mike Pearce, vice president of franchise development for the 35-year-old chain. It is focused on expanding its franchisee program in the Northeast and Upper Midwest Plains States, along with Florida and Texas.
Captain D's franchisees must have a net worth of at least $500,000 liquid assets of $200,000 and must pay a $25,000 license fee. Detroit's new franchisees, Hubbard and Briggs, have both been active in civic organizations, business and Detroit media.
Hubbard, who is developing eight Captain D's in Toledo, OH, is the former president of New Detroit, and he most recently served in Toledo as a community builder for the Federal Department of Housing and Urban Development and in economic and neighborhood development for the Mayor of Toledo. Briggs has been involved in several local businesses following a career in local radio and cable television.
The Detroit franchisee agreement comes on the heels of Captain D's largest agreement ever--the chain recently signed an agreement with Restaurant Development Group to open 125 units in Puerto Rico. The deal marks the chain's second international expansion (earlier this year it opened stores in Trinidad). Restaurant Development Group is known for its operations of Santa Fe Cattle Company Steakhouses and Roly Poly Sandwich Shops.
There are nearly 600 Captain D's in 26 states and military bases around the world. The chain, which is owned by Sagittarius Brands, is on track to open 40 new franchisee stores this year and as many as 10 company-owned stores.
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