At a time when U.S. companies are beginning to look north of the border to tap new markets, Canadian businesses such as Mississauga, Ontario-based Mucho Burrito and Toronto-based North American Development Group are looking to get or grow their presence in their neighbor to the south.
Causal dining chain Mucho Burrito plans to have 100 franchises in the U.S. within the next five years. The first two units will open in Seattle later this year. In addition to Washington state, the 26-restaurant chain is targeting Arizona, California, Florida, Illinois and New York “among others.”
“The idea of expanding into the United States has been our plan from early on, as Mexican food has always been extremely popular,” said Alex Rechichi, cofounder and ceo of Extreme Brandz, franchisor of Mucho Burrito. He cited figures that Mexican food represents 62 percent of U.S. ethnic cuisine market. Standard Mucho Burrito locations range from 1800 square feet to 2200 square feet and accommodate 40 to 80 customers. Initial investment is approximately $300,000 to $500,000.
Shopping mall developer North American Development Group is planning a 22-acre strip shopping center in Frisco, Texas as part of its continued U.S. expansion. The Dallas Morning News reports a Tom Thumb grocery store will anchor the 94,000-sq. ft. project. According to the story, the company plans to add another 2 million square feet to its existing Texas portfolio of more than a dozen retail projects.