TORONTO, Canada – SPOT COFFEE (CANADA) LTD. (“SPoT” or the “Company”) has noted an increased demand from its shareholders for information concerning where the Company stands in terms of the total number of SPoT cafes.
SPoT currently has a total of 26 locations presently operating, in development or under construction in the states of New York and Connecticut.
SPoT’s 26 cafe locations are broken down as follows:
- Six (6) Operating Corporate-Owned Cafes which include SPoT Elmwood, SPoT Delaware, SPoT Rochester, SPoT Glen Falls, SPoT Saratoga Springs and SPoT Clarence.
- Six (6) Operating Franchise Cafes which include SPoT Hamburg, SPoT Kenmore, SPoT Orchard Park, SPoT Hertel and SPoT Williamsville and SPoT Waterfront Village.
- Five (5) Express Cafes Operating Under License to Dash’s Supermarkets and to Chartwells at the Buffalo State College.
- Nine (9) Franchise Locations Being Developed and Under Construction which include SPoT Roswell Park, SPoT Amherst, SPoT West Hartford, SPoT Larkin and SPoT West Seneca. Furthermore, SPoT’s agreement with one of its franchisees, namely Parsico Cafes LLC (“PCL”), includes (in addition to SPoT West Hartford, CT) four (4) more cafes in CT and NYS to be developed, built and opened by the end of 2018. The Company is currently in the process of finding the most suitable locations to lease for PCL’s next 4 cafes.
SPoT is currently negotiating new café locations with a new franchisee in Warwick, NYS, and multi-unit franchises with individual franchisees in Canada and the USA.
The Company considers these prospective franchises as serious outstanding franchise proposals which have passed the Company’s franchise selection criteria and are pending final franchise agreements.
SPoT’s management will continue its focus now and in 2018 on the growth of its franchise operations, the repayment of debt, and the growth of net earnings.
