Soupman, Inc. (Public trading symbol OTCQB: SOUP), makers of the best-tasting soup in the world, announces that it has received approval from New York State to go forward on a Master Franchise Agreement with The Grilled Cheese Truck Inc. (Public trading symbol OTCQB: GRLD) www.thegrilledcheesetruck.com to launch Original Soupman & The Grilled Cheese Truck mobile units nationwide. The branded mobile units, which may be trucks or carts, will be targeted to be franchised to war veterans who desire to own and operate their own business in the burgeoning gourmet mobile food cart/truck industry, which is the fastest growing segment in the Quick Service Restaurant space.
Original Soupman and The Grilled Cheese Truck are currently accepting applications from veterans. The proposed venture between the two companies is expected to provide the start-up capital, real estate locations, and training necessary to open a unit to sell both brands. Operators will be responsible for maximizing sales and making a profit.
The first dual branded mobile unit is slated to hit the streets of New York in time for Veterans Day at the corner of 5th Avenue and 59th Street, with 20 more units planned for New York City. The menu features the World-Famous Original SoupMan soups and fantastic grilled-cheese and other delicious sandwiches from The Grilled Cheese Truck such as its popular pulled pork.
The Master Franchise Agreement would require The Grilled Cheese Truck to fund $2 million in growth capital to Soupman, Inc. as well as pay to Soupman 25% of all franchise fees and royalties collected. Soupman is also to be paid under the Agreement for sales of its proprietary soups to the franchised locations nationwide. We expect that the transactions contemplated by the Master Franchise Agreement will be completed within the next thirty days.
Al Hodges, CEO of The Grilled Cheese Truck, Inc., who has over 30 years of food service and franchising experience with Dunkin Donuts, Arby’s and Target stores, is leading the franchise efforts for the company.
“We expect significant unit and sales growth as a result of this partnership for many years to come. Great soup and a gourmet grilled cheese sandwich is the perfect combination,” stated Jamieson Karson, CEO of Soupman, Inc.
The Original Soupman® offers over 50 varieties of soups including such famous flavors as Lobster Bisque, Crab Bisque, Chicken Gumbo, Crab Corn Chowder, Mulligatawny, Butternut Squash, Jambalaya, Shrimp Bisque, Italian Sausage, Eggplant Parmigiana, Tomato Basil and many more. The Original Soupman® soups are also available in 6 varieties in 17 ounce Tetra Pak cartons in grocery stores including Publix, Kroger, Ralph’s, Vons, Pavilions, HEB and Safeway among many others. The soups can also be ordered online and at Amazon.com. For a store tracker or to order go to www.originalsoupman.com.
Consumers visit the Soupman at his original store in NYC on 55 Street & 8th Ave, on soupmobiles at local events throughout the nation and ladling soup for fans at MetLife stadium during the football season.
About Soupman, Inc.
In 1984, The Original Soupman opened its doors at 55th Street & 8th Avenue in Manhattan and quickly became a worldwide destination. Rated #1 by Zagat and praised by the New York Times as “Art, not Soup,” it set the standard for innovation and excellence long before the famous “Seinfeld” episode made it a cultural icon. We sell soup across America to in Tetra Pak cartons grocery stores next to Campbell’s and Progresso as well in our franchise restaurants, soupmobiles and foodservices. Shaquille O’Neal is an advisor and equity partner, as are Mr. October, Reggie Jackson and the award-winning actor, Jason Alexander. Jamieson Karson, former CEO of Steve Madden Shoes, is our Chairman and CEO. Soupman Inc., is a fully reporting public company trading under the symbol SOUP. For additional information on our company please visit: www.originalsoupman.com OriginalSoupMan and “Like” us on Facebook.
Safe Harbor Statement:
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The forward-looking statements are based on current expectations, estimates and projections made by management. The Company intends for the forward-looking statements to be covered by the safe harbor provisions for forward-looking statements. Words such as “anticipates”, “expects”, “intends”, “plans”, “believes”, “seeks”, “estimates” or variations of such words are intended to identify such forward-looking statements. The forward-looking statements contained in this press release include, statements regarding the expected transaction with The Grilled Cheese Truck. All forward-looking statements in this press release are made as of the date of this press release, and the Company assumes no obligation to update these forward-looking statements other than as required by law. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements such as our ability to close the transaction with The Grilled Cheese Truck within the next thirty days, and the risk factors discussed in the Business and Management’s Discussion and Analysis sections in our Quarterly Reports on Form 10-Q, Annual Reports on Form 10-K and Current Reports on Form 8-K. Copies of these filings are available www.originalsoupman.com .
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