Chanticleer Holdings, Inc. has partnered with the existing Australian Hooters franchisee, Morney Schlebusch in a joint venture, although we do not presently have any formal agreement in writing. Under the terms of the verbal agreement, Chanticleer will acquire the franchise rights to jointly develop new Hooters restaurants in Australia.
Morney Schlebusch is the current Australian franchisee and operates 2 Hooters restaurants in the vicinity of Sydney. The company approached Chanticleer to form a joint venture where Chanticleer provide best of breed operating practices and jointly fund new restaurant deployment.
- Morney Schlebusch currently runs and owns 2 restaurants in the Sydney vicinity. Morney Schlebusch previously worked with Spur franchises.
- Chanticleer will own 49% of the Hooters of Campbelltown and Surfers Paradise, where Surfers Paradise is currently under construction
- Management Company receive a 5% management fee
- New Restaurants will be funded and owned 100% by Chanticleer/Morney Schlebusch JV.