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Long John Silver's qualifies for SBA Registry
September 14, 2009
Long John Silver's (LJS) has received approval from U.S. Small Business Administration (SBA) for listing on the SBA Franchise Registry, the company has announced. According to LJS franchise development experts, the action will help expedite the process for new and existing LJS franchisees to obtain loans to start or expand their businesses with the seafood quick-service restaurant brand.
The Franchise Registry, operated by Fran Data in partnership with SBA, is an online national registry of franchise systems whose new and existing franchisees receive streamlined loan processing. Fewer than 30 percent of all franchisee systems qualify to be listed on the Registry. Applicants must submit their franchise contracts to ensure compliance with strict SBA criteria.
"It's no secret that the current economy and credit environment has suppressed franchise systems from meeting growth plans," said Ben Butler, LJS president. "We want to give our franchisees every advantage to secure financing for a Long John Silver's restaurant. We believe approval on the SBA Registry is a major step in that effort."
According to Butler, LJS has maintained a loyal and growing customer base. The brand's rich history began in 1969 with traditional batter-dipped recipes for seafood, chicken and shrimp. In 2008, LJS expanded its menu to include the Freshside Grille, a line of non-fried seafood items, and most recently became the first national QSR chain to serve the latest food trend, Baja Fish Tacos. Growth is being driven by existing franchisees and active new franchisee interest in growth markets.
New store design
In 2008, LJS introduced a new restaurant design that was developed by a team of franchisees, a partnership that significantly reduced costs. Three have been built in the United States —in Indianapolos, Wichita, Kan., and Moberly, Mo., with the possibility for more to be developed.
Doug Heinrich, director of asset strategy for LJS, said the engineered buildings are offsets to replace an existing, adjacent parcel. The stores — the first single-brand LJS to open in several years — have a larger footprint than past prototypes with three different seating options up to 70 seats. The buildings are in a contemporary box shape with more windows to give more natural light for an invting, fresher look and no longer have the traditional tipped blue roof.
"It's just a cleaner, fresher Long John Silver than the rest of the system," Heinrich said.
Fellow Yum! Brands franchise A&W Restaurants announced earlier this year that it had been added to the SBA Franchise Registry.
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