New Wall Street Journal Report Names Rita's To List Of Top 25 Franchise High Performers

Performers Fast-Growing Italian Ice Franchise Makes the Cut for Exclusive StartupJournal.com Ranking

BENSALEM, PENNSYLVANIA (Thursday, March 09, 2006) - A newly released report from StartupJournal.com, The Wall Street Journal's guide for entrepreneurs, has named Rita's among 25 high-performing franchise brands that conduct business in the United States . The 2006 listing of 25 Franchise High Performers was cultivated from a group of 1,458 established and growing systems that feature experienced leadership, financial health and a proven record of franchising success.

Rita's, with more than 340 locations, is the nation's largest franchise specializing in Italian Ice. Company executives say inclusion in this new, exclusive franchise listing further strengthens the 22-year-old chain's position in the $20 billion U.S. frozen dessert industry.

"Being named to this year's list of 25 high performing franchise brands by a trusted and respected publication is testament to the proven credibility, success and growth potential of the Rita's brand," said Jim Rudolph, CEO of Rita's. "It speaks volumes to our reputation as a valued and respected franchise brand."

To make the list of the Franchise High Performers, franchises were required to meet several criteria including: seven or more years experience in franchising, a minimum of 100 units and a below average turnover rate for 2004. Eligible systems were then further evaluated for financial stability and profit, projected growth for 2005, franchise unit cancellations rates and top executive experience with the system. To compile the list, The Wall Street Journal worked with FRANdata to select the list of 25. Information for each company was based on the franchises Uniform Franchise Offering Circular.

Under the direction of Rudolph, who acquired Rita's in May 2005 from its original founders, the chain is right on target for its announced plan to operate 1,500 locations by 2010. Based on last year's pace, Rudolph says he expects to see more than 200 new franchise deals inked in 2006, and 70-100 new locations opening by year's end. Known for its long lines and cult-like customer following, Rita's is currently targeting areas for growth up and down the East Coast.

In December 2005 alone, the 340-unit Italian Ice chain signed a record 22 franchise agreements, for a total of 108 new deals for the entire year.

About Rita's

Rita's was founded in 1984 by former Philadelphia firefighter Bob Tumolo. Tumolo and his brother, John, began franchising the concept in 1989. Today, Rita's, now owned and operated by McKnight Capital Partners of Pittsburgh, thrives with over 340 locations in 12 states throughout the East Coast and as far West as Ohio. The company projects to have 1,500 locations open through franchise expansion by 2010.

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