Juici Patties beefs up New York expansion
…Premier Private Equity pumps US$700,000 in first Bronx store
Having already signed eight franchise agreements for stores in New York, local food company Juici Patties is bullish on its growth in the Big Apple.
Following an overwhelming take-off in Florida earlier this year, Juici Patties director and CEO of the US operations Daniel Chin told the Jamaica Observer that he is optimistic for similar growth in New York, which also has a large diaspora network.
“New York is a similar market in many ways with a strong Jamaican and Caribbean community also possessing a unique landscape. We’re therefore very optimistic about getting a positive reception there and plan to bring an impactful launch to that market.
“In leveraging our experience from Florida while tailoring our approach to fit the specific needs of the New York market… we expect to make a big splash as we build on our successes there,” Chin said, in response to Business Observer queries.
The Juici franchise — which has been witnessing aggressive growth since the roll-out of its first overseas store in Hollywood, Florida, that broke records to sell almost 5,000 patties on the first day of opening — has been steadily unlocking parts of an overall strategy to have its stores scattered across all 50 states of the US. Following its latest move to New York, the company has its eyes set on Atlanta as the next area to be targeted.
Of the eight locations expected to be rolled-out in New York by 2025, the stores will be spread across the largely populated boroughs of Bronx, Brooklyn and Queens.
One of the signed franchise agreements done with Premier Private Equity sees the first location in Bronx now under construction along the Jamaican-dominated White Plains Road.
“We’ve always believed in the Juici brand and business, so although we’re starting out with one store, we are also eager to explore other opportunities,” portfolio manager of Premier Private Equity K’sha White told the Business Observer, noting capital investment upwards of US$700,000 earmarked for the project.
“We’re thrilled to be partnering with Juici to bring their brand and products to New York City and the diaspora community. Looking ahead, we anticipate significant growth opportunities,” she said.
Premier Private Equity (formerly FirstRock Private Equity) is a Barbados-based firm owned by a group of Jamaican entrepreneurs. The entity already has a presence in the quick-service restaurant industry following a joint investment partnership deal which saw it along with Norbrook Equity Partners and Sygnus Deneb Investments acquiring a number of KFC and Dairy Queen restaurants in Panama earlier this year.
White, in further expressing optimism about her company’s latest venture, labelled the partnership a new chapter in Juici Patties’ US growth.
“This expansion is about more than business—it’s about sharing our culture and heritage with a new audience,” she also said in a recent company release.
“Partnering with Premier enables us to continue our mission of sharing our authentic Jamaican flavours throughout the United States and the Bronx, New York, is an opportune place to continue this journey,” Chin added.