Popular Southeast Florida Fast Casual, Build-Your-Own Mediterranean Concept Secures Funding for its Franchises with First Financial Bank
BOCA RATON, Fla. (February 1, 2016) – Gyroville — a fast-growing Mediterranean-themed fast casual franchise—has launched an express financing program with First Financial Bank, called SBA Express.
Through this new program, First Financial Bank has committed to finance up to 50 new Gyroville franchises, with 72-hour pre-approval and funding within 45 days. Available to new and existing franchisees, SBA Express makes it easier to process and fund low-dollar loans up to $250,000 to help offset the cost of opening a new Gyroville franchise.
“The SBA Express program streamlines the opening process by reducing lender transaction costs and increasing access to working capital for our franchisees,” said CEO and founder of Gyroville, Lambros Kokkinelis. “As a fresh player on the franchise scene, this program will make it easier, quicker and faster for franchisees to open their own Gyroville franchise and will be instrumental to our company’s continued growth.”
Gyroville is seeking both multi-unit operators and owner-operators. The Gyroville opportunity capitalizes on the growing trend of mindful eating and is driving the popularity of Mediterranean cuisine in the fast casual space. The brand offers a highly desirable concept within a unique, niche market and requires no previous industry experience from its potential franchisees, citing a proven business model, established system and intensive training process as their keys for success.
Franchisees benefit from Gyroville’s national purchasing deals, as well as a partnership with Buxton to aid in the placement of new locations. Along with being on the SBA registry, Gyroville has equipment financing available through Marlin. Franchisees must have a minimum net worth of $500,000 and $100,000 in liquid capital. Depending on size and location, the average cost to open a Gyroville is around $275,000. Ideal locations are high-traffic lifestyle centers and need 1,000-1,400 square feet for inline locations with outdoor dining.
Gyroville was created in 2010 to bring Mediterranean cuisine to the fast-casual market. Gyroville starts by using only the freshest ingredients and prepares them using recipes that combine old-school, Greek traditions with a modern day twist. The concept allows customers to follow their choice of protein from the grill or vertical spit through an assembly-line process, as they choose from fresh ingredients and homemade sauces. The first Gyroville opened in January 2010 in Fort Lauderdale, Fla. Today, there are nine corporate-owned locations in South Florida. For more information, visit http://gyroville.com/.