Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: THURSDAY, January 19, 1995 TAG: 9501190099
SECTION: BUSINESS PAGE: B-7 EDITION: METRO
SOURCE: MAG POFF STAFF WRITER
DATELINE: LENGTH: Medium
The location is U.S. 220 South at Old Rocky Mount Road, just south of Pargo's restaurant and the Food Lion supermarket.
Beaven Smith of Virginia Beach, developer of the $1 million project, said the restaurant will open in mid-March if the weather remains favorable for construction. Site clearance started Monday.
Smith said Roanoke will be the sixth restaurant he owns in his franchise area, which covers southern and Western Virginia and West Virginia. The fifth of his franchised restaurants will open Feb. 1 in Huntington, W.Va.
The Roanoke Outback will be the 224th restaurant for the Tampa, Fla.-based chain, which in December was named entrepreneur of the year by Inc. magazine.
Smith and his partners in the franchise have taken a long-term lease on the land, which is owned by MC Associates of Roanoke. Dennis Cronk of Waldvogel, Poe and Cronk Real Estate Group Inc. represented the owners in the transaction.
The Roanoke restaurant will encompass 6,200 square feet, seat 225 diners and employ 75 people, according to Smith.
Smith described Outback as a casual-dining steak house with an Australian motif, right down to the kangaroo pictures on the walls.
Although the theme is the Australian wilderness, Smith said, the food is American. It will feature the steaks of the American Midwest, but the menu will include other items, such as pasta, chicken and fish.
Inc. magazine said the chain was founded six years ago. It had grown to 210 Outbacks by the end of December, including 42 franchise units. A dozen new restaurants were scheduled to open in January.
The company reported 1993 net income of $23.7 million on sales of $271.2 million. Inc. magazine estimated company revenue for 1994 at $544 million and projected 1995 sales at $739 million.
by CNB