Amfil Technologies Inc (OTCMKTS:AMFE) has signed a Letter of Intent (LOI) that will see a Snakes & Lattes location opened in Charlotte, North Carolina. The two companies will work together in working on the location. The two companies formed the partnership after Amfil Technologies recently visited the area.
The strategic importance of Charlotte
Charlotte is densely populated, a factor that makes it very strategic. The city has a population of around 850,000 people. It has the highest number of people in North Carolina. The Charlotte Metropolitan Area, is a sixteen-county market region and has a round 2.7 million people. It is the third biggest city in the southeastern United States. The city is said to be the third fastest growing city.
Charlotte has several universities led by UNC Charlotte. According to the 2005-2015 US Census, the city is best among the 50 biggest cities that are regarded as ‘millennial hub’. This makes the city very strategic for the Snakes & Lattes location.
Several other locations will be opened
The company has announced that it is targeting a number of properties in the city for a potential location. After selecting the right location, a request for lease will be submitted to the landlord.
Although the new Snakes & Lattes location is expected to become fully functional in 2019, the two companies are working on jointly opening other locations in other places. The companies have formed the US Expansion Team that is visiting different places with an intention of getting a potential partner. The team seeks to secure more venues to open more location in 2018 and all the way to 2019.
After North Carolina, the new wave of expansion will head to Texas. The company plans to meet potential partners in San Antonio, Austin, Fort Worth and Dallas in addition to several other locations in Houston. To cover a large geographical area, the team intends to attend multiple meetings at the same time. From there the team will proceed to Fort Collins and Denver. Here the team will hold meetings with potential partners and also explore potential venues for Snakes & Lattes locations.