Palm Beach Regional Center : VooDoo BBQ & Grill Sells Out Phase I of their EB-5 Offering
The VooDoo BBQ & Grill (Florida Franchisee) is using the federal EB-5 Investment Visa program to partially fund the development of 24 locations throughout the State of Florida. Phase 1 of these efforts was “sold out” and fully subscribed in just a matter of weeks. Phase I of these plans includes the construction of the first four VooDoo BBQ locations in South Florida. VooDoo BBQ is a successful New Orleans-based barbecue chain.
The Phase II offering is scheduled for release on Oct. 1, 2012, with four additional phases planned to be offered over the next five years.
VooDoo BBQ & Grill is ranked in Entrepreneur Magazine’s Franchise 500 and is also a recipient of Franchise Business Review’s Top 50 Franchisee Satisfaction Awards. VooDoo’s rapid expansion is credited to its deep roots in New Orleans’ culture — a culture that is uncompromising when it comes to quality ingredients, terrific service and uncompromised standards.
The Voodoo BBQ & Grill EB-5 offerings are presented under the Palm Beach Regional Center. The Palm Beach Regional Center has an outstanding reputation for presenting quality EB-5 projects. It is one of the few Regional Centers in the United States that can boast a 100% success rate on all previous I-526 petitions. The Palm Beach Regional Center operates in nine Florida Counties including Miami-Dade, Broward and Palm Beach.
Phase I offered 10 EB-5 investor positions at $500,000 each, totaling 5 million dollars (for the first four units). The first two units in Pembroke Pines and Kendall, FL are currently underway with the other two locations scheduled for
development after the first of the year. Investors for Phase I committed quickly to the project which is expected to create 175 permanent full-time jobs — 75% more jobs than required for green card approval at 17.5 jobs per investor.
Phase II is currently being offered to fund the next four units in Miami, Ft. Lauderdale and West Palm Beach. All four Voodoo BBQ Phase II locations have been certified and designated as being located in a TEA area, therefore qualifying for the $500,000 investment requirement.