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Important news for GRAS. Greenfield Farms Food Announces Ten Store Expansion Plan for Carmela's Pizzeria

WEST PALM BEACH, FL / ACCESSWIRE / July 9, 2015 / Greenfield Farms Food, Inc. (Greenfield or the Company) (GRAS) announced today plans to expand its Carmelas Pizzeria company owned units over a 36-month period. Ten additional company owned units are planned within the Dayton, Ohio geographic area, in proximity of its four currently owned restaurants.

This strategy of company owned stores combined with franchising units allows the company to implement a scalable concept, said Ron Heineman, Greenfield President and Chief Executive Officer. The critical mass of these additional units will contribute, in my view, significant economies of scale in terms of savings in overhead, purchasing and general logistics that will impact our bottom line in a positive manner, concluded Mr. Heineman.

The addition of locations concurrent with the development of its previously announced nationwide franchising plans will give further validation to this initiative.

The units planned will all have the identical size, design and menu offerings. They are tailored to be the most efficient and most economical franchisable model. The development of this concept is a result of months of evaluation and research by Carmelas management team supported with over 60 collective years of food/restaurant experience. The planned units will have a 1,500 to 2,000 square feet footprint. Subject to local zoning requirements, each unit will have a drive-thru window with additional menu items consistent with that concept. The inside seating area will be approximately 20-30 tables with alcohol where permitted. The individual units are forecasted to generate $350,000-$400,000 of revenue, a gross margin percentage of 25% and start-up costs of approximately $80,000 to $150,000, based on location.

Currently the company has identified two possible site selections that could result in store openings. The shareholders will be updated on this project as developments occur.

Read Full: http://finance.yahoo.com/news/greenfield-farms-food-announces-ten-140000178.html