Tuesday, October 9, 2007

Burger Fuel and Coke

I and many others have been critical of Fuel Worldwide [BFW.NZ] and their appallingly bad IPO but the company has today announced some positive news.

I will quote the press release directly release from Burger Fuel:


BurgerFuel opens flagship Sydney store.

BurgerFuel has taken its international expansion programme an important step
forward, opening its second Australian store yesterday.

Located right under the iconic Coke sign at the entrance to Kings Cross,
Sydney, the landmark store is a key element in BurgerFuel's global expansion
plans.


BurgerFuel founder, Chris Mason, says this store represents a foundation
stone for the company's overseas development and its high-traffic location
will not just generate interest in the brand in Australia, but further afield
as well.

"Kings Cross is very much a tourist Mecca, so this new store will be a
showroom for our brand and the BurgerFuel formula."

"The Australian market poses some challenges for us, but the growing sales
and great response from the locals to our Newtown store, which opened last
December, shows there is a market for us across the Tasman."

He says the company will continue steady expansion in New Zealand, while at
the same time building the brand in Australia.

The new Sydney store is the 23rd BurgerFuel store to open, with a further one
opening in Napier, New Zealand, later this month.

The Kings Cross store is employing the proven parts of the BurgerFuel
formula. Its menu, which comprises high-quality burgers that are big on
flavour, is consistent with that enjoyed by its New Zealand customers.

"Our distinctive in-store design, which is a strong aspect of the BurgerFuel
experience, is also being used in Kings Cross. After 12 years of development
we have refined our approach to the brand, the stores, and the products to an
international level.

"We intend to build a successful operation in Kings Cross and use that to
offer franchisees in Australia the opportunity to be part of the BurgerFuel
system".

The Kings Cross store will be company owned. All BurgerFuel's New Zealand
stores are franchised, other than the company's first ever store in Ponsonby
Rd, which opened in 1995.


The area of Kings Cross where BF have sited their new store is, as Mason says a "tourist Mecca" and concepts like BF do well in areas such as this because much of the human traffic passing through like to spend money on food while being entertained in the 24hr sex and nightclub centre that is Kings Cross.

Living in the cross during the late 1980s(ahh those were the days) there were many new food outlets of concepts that were tried there first.

I remember one of the first Mc Cafes' being tried out there and look at them now.

Mason and BF have certainly come to the right place to get exposure.

I wish them luck.

BFW Shares closed even today at NZ .61c


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