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FORT MYERS — Rib City will open a new restaurant in Estero on Monday. The newest location is the Fort Myers-based barbecue chain's 29th restaurant in the U.S., according to a company statement.
Rib City is run by Paul Peden, and his son, Craig. Both were recognized as being among the Gulf Coast's most successful entrepreneurs in a special issue of the Business Review. The Pedens attribute Rib City's success to low up-front costs; capitalizing a Rib City takes about $250,000, less than many competitors in that price range, and the Pedens say the restaurant is usually profitable in its first month of operation.
The company is utilizing financing from the U.S. Small Business Administration to continue its expansion. And Rib City could soon go international: currently, the Pedens are exploring expanding the chain to Panama and Colombia.
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