American Restaurant Concepts, Inc. Discusses Wing Nutz Transaction
But at the Pride of New York Marketplace within the show, small, local producers give out samples of wares that appeal to the consumer as well as the food service business. Thats where I caught up with Earl Fultz, creator of cHarissa Moroccan condiment and his business partner, Jeri Woodhouse, owner of Southolds A Taste of the North Fork . Fultz and Woodhouse were hoping to interest restaurants in the haunting, versatile pepper-cumin spread and were also launching a new product, a mix for making Moroccan flatbread. Well keep you informed on that one. Nick Voulgaris III and Danna Abrams, owner and baker, respectively, of Kerber’s Farm in Huntington, were hawking a new line of fruit preserves. I tasted the cherry and the fig both delicious but I was distracted by the tiny pastry leaves they were served on.
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Dining Out restaurant review: Louis Benton Steakhouse in downtown Grand Rapids
12 hours ago 0 shares Content preferences Done LAFAYETTE, La., March 3, 2014 /PRNewswire/ –American Restaurant Concepts, Inc. ( ANPZ ), operator and franchisor of the award-winning Dick’s Wings & Grill restaurants, provided additional information about its recent acquisition of a 50% interest in Wing Nutz. As previously reported, the Company acquired a 50% ownership interest in Paradise on Wings Franchise Group, LLC, which is the franchisor of the Wing Nutz restaurants and owner of the Wing Nutz intellectual property. As the franchisor of Wing Nutz, Paradise on Wings receives royalties on all revenue generated by the Wing Nutz franchisees, and receives a franchisee fee each time an agreement is entered for the opening of a new Wing Nutz restaurant. Because Paradise on Wings incurs minimal expenses, it is very profitable, with virtually all of its revenue flowing through to net income. On a going forward basis, 50% of Paradise on Wings’ net income will be recorded as investment income on the Company’s books, and the Company will receive 50% of any distributions of cash that are made by Paradise on Wings. The value of the Company’s 50% interest is also expected to grow over time as the Wing Nutz franchise grows. Paradise on Wings generated approximately $268,000 in royalty fees from its franchisees during 2013, and expects to generate approximately $300,000 in royalty fees from its franchisees during 2014. It also expects to generate at least $100,000 in franchisee fees from new restaurants that are currently in the pipeline, bringing total estimated 2014 revenue and net income to at least $400,000. If these projected numbers are realized, the Company will record investment income of approximately $200,000 during 2014 from its ownership interest in Paradise on Wings. “Paradise on Wings is very profitable, making this transaction accretive to our earnings,” stated Richard W.
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Elenas sea bass was both photogenic and delicious. The sauce was delicate enough as to not over power the fish. My strip did not deliver the expected gusto from a 12-ounce steak. The KC Strip was unevenly grilled and could have used more salt.
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