We have previously spoken to shareholders in general terms about having QSR ambitions. Now I can report to shareholders that our QSR plans are being formalized into specifics. A lot is being done behind the scenes.
Through strategic planning we determined the sequence of events necessary for its QSR (Quick Service Restaurant) ambitions to be realized, and have set a timeline. It is CRUZANI’s intention to have a prototype QSR operation in place within Q1 2019. Progress and milestones will be reported to CRUZANI shareholders during implementation.
The purpose of CRUZANI’s QSR initiative is to multiply shareholder value. The expansion will be accomplished by purchasing operating restaurants, with similar menus, adapting and rebranding them. Initially, the locations will be corporate owned. Once a solid foot print is established, we will begin franchise operations. Franchisable QSR operations have been shown in the industry to create higher corporate valuation for shareholders early in the expansion cycle.
The CRUZANI QSR initiative is being led by CRUZANI’s subsidiary Recipe Food Co. www.RecipeFoodCo.com of Toronto, and its head Dee Gibson, drawing upon external industry expertise as required. CRUZANI’s commitment to a formal development plan delivers shareholders an outcome that reflects industry best practices and the latest thinking about QSR market drivers. The key elements of CRUZANI’s QSR formal development plan include concept development of our food and beverage offering, roll-out pro-forma, developing a reproducible lease structure, design of physical elements, construction, project management, facility assessment against the plan, equipment procurement, staff placement, job descriptions, manuals, policies and procedures. Many of these elements, including the acquisition of our liquor license, are completed or well underway.
CRUZANI is also keeping a close eye on the legislative changes in the Canadian market which would open new market segments for CBD infused beverages and edibles.
We are excited about our progress. It’s happening and it’s exciting. You will hear more from us soon, with more detail.