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Checkers Drive-In Restaurants Inc. signed an agreement with Kalex Partners LLC to put four new Checkers restaurants in Brooklyn. While the first location will be open for business later this month, the other three will open over the next five years.
The New York borough has been a strong market thus far for the Tampa firm. “Our current Brooklyn restaurants have experienced great success,” noted Checkers' chief development officer Lynette McKee in a release.
Kalex co-founders Richard Bowditch and Sean McDevitt will work with operating partner Mohammed Elsaadiny to develop the franchise locations. McDevitt is also co-founder of Maren Group, a merger and acquisition advisory firm.
Checkers requires that interested franchisees possess a minimum net worth of $750,000, along with liquid assets worth $250,000, although those requirements may vary slightly based on market geography.
More than 800 Checkers restaurants are currently operating across the United States.
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