Chanticleer Holdings, part owner of Hooters of America (HOA), the operator and franchisor of the iconic Hooters restaurants throughout the U.S. and internationally, has rights to develop and operate Hooters restaurants in several countries around the world. In addition to operations in Europe, South Africa, and Australia, Chanticleer also has franchise rights to develop parts of Brazil. Brazil, South America’s biggest economy, represents the newest opportunity.
It surprises some to find out that Brazil’s economy is right up there with the UK’s and France, and is currently listed as the world’s seventh biggest economy. Due partly to the growth of Asia, with a corresponding demand for Brazilian iron and agricultural commodities, the Brazilian middle class has swelled, with millions of Brazilians rising from what had been a massive underclass. Governmental actions to reduce taxes and cut interest rates have also helped spur spending and growth, and unemployment is now at a 10-year low. Although growth rates have leveled off to more sustainable levels than seen during the earlier boom, Brazil is clearly one of the world’s emerging big players, with a major developing consumer base of nearly 200 million. Notably, the country will also be hosting the 2014 World Cup and the 2016 Summer Olympics.
For Chanticleer, this growing foundation of consumer wealth represents a great opportunity for exploring opportunities to establish a foothold with Hooters. It fits the company’s territory selection criteria, seeking locations with strong local market dynamics and compelling demographics, such as Rio de Janeiro. The strategy is to partner with highly experienced and well capitalized restaurant operators in the local international market. Worldwide, Chanticleer believes it can grow to have more than 75 Hooters locations, independent of the company’s interest in HOA with its 412 restaurants in 28 countries.
For additional information on Chanticleer Holdings, visit www.ChanticleerHoldings.com
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