Cafe Santa Fe Aims for 40 by End of 2000
by June 14, 1999 12:00 am 77 views
Ghazi partners Glenn and Issa plan new restaurant specializing in steak and vegetables
Fayetteville-based Cafe Santa Fe plans to have 20 Mexican restaurants open by the end of the year and 40 by the end of 2000, says Tom Flores, president of CSF Franchise Group.
CSF has opened two new restaurants so far this year and another five are planned by September – in Bentonville, Little Rock, Searcy, Van Buren and Neosho, Mo. Franchises are also planned for Russellville and Conway by the end of the year. Currently, CSF has 10 Cafe Santa Fe franchises, all but one of which are in Arkansas. CSF also has a company restaurant in Springdale.
The growth coincides with CSF’s debut on the Nasdaq stock exchange, which is planned for August, Flores says. He hopes the stock premieres at $2 to $2.50 per share. The company went public in February with a reverse merger into a shell provided by Mountain Valley Vineyards of Denver. Businesses must have a net worth of $2 million to be placed on Nasdaq.
Cafe Santa Fe restaurants range from 4,000 SF to 5,600 SF in size. Rights to a franchise can be purchased for $35,000, and 4.5 percent of profits goes to CSF.