Thursday May 22 4:21 PM EDT
Company Press Release
Newriders opens theme restaurant in Myrtle Beach, S.C.
FRESNO, Calif.--(BUSINESS WIRE)--May 22, 1997-- Newriders Inc. (OTC BULLETIN BOARD:NWRD) announced
today the opening of their third theme restaurant in Myrtle Beach, S.C.
In an interview with Board Chairman Leon Hatcher and President Michael Purcell the mood was ecstatic. Michael Purcell was
quoted as saying ``In our first four days of operation we exceeded our expectations by over 200 percent in apparel and
beverage sales.''
The first four days of operation for the new Easyrider restaurant were from Thursday the 15th of May thru Sunday the 18th. In
that four day period, with the exception of a lunch buffet on Sunday, there was no food sold. The only sales came from apparel
and beverages, which are the two areas of highest profit margin.
Purcell was also quoted as saying, ``For a soft opening our numbers are terrific.'' A soft opening is one with no advertising.
In the first four days beverage and apparel sales exceeded an average of $20,000 per day. ``Our food sales should increase
that figure by 50 percent,'' Hatcher was quoted as saying.
The Myrtle location will be in full operation in time for the Memorial Day weekend. Orders were also taken for over 20
Custom Motorcycles in the same four day period. ``Not bad considering Easyrider Motorcycle shop won't be open until mid
June,'' Hatcher was quoted as saying. ``Each custom Motorcycle represents over $2,000 in profit for the company.''
Newriders will be opening their third Custom Motorcycle and Service store in June. The Myrtle Beach location will be a
10,000 square foot facility.
Newriders Inc. is the parent company of Newriders Ltd. which owns and operates Easyriders Cafe Restaurants, Easyriders
Roadware Apparel and Merchandise Stores, Easyriders Motorcycle Shops, and private labels a variety of brand name items
pursuant to a franchising and licensing agreement with Easyriders Franchising Inc. The company's theme restaurant provides a
unique dining and entertainment experience in a high energy environment that capitalizes on the universal appeal of the Easyrider
Magazine Lifestyle.
More news for referenced ticker symbols: NWRD, and related industries: food/beverages, restaurants. |
