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Success of Slim Chickens Restaurant Chain Eggs On Investors for $2.5M More

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Slim Chickens Development Co. LLC, the Fayetteville company behind the popular restaurant chain, last month filed a Form D with the U.S. Securities & Exchange Commission indicating it plans to raise $2.5 million.

The minimum the company will accept from any outside investor is $25,000, the filing says.

“Slim Chickens Development Corp. is raising $2.5 million in convertible securities due to the overwhelming response to franchising opportunities and rapid growth,” the company told Whispers in a one-sentence statement Thursday afternoon.

The business partners behind the chain — Tom Gordon, president, and Greg Smart, chief marketing officer — told Arkansas Business in April that they wanted to have 600 restaurants by 2025. The chain opened its first location in Fayetteville in 2003 and now has 14 locations, in Oklahoma and Texas as well as Arkansas. The website indicates restaurants in Lincoln, Nebraska, and Independence, Missouri, are in the works.

Back in the spring, Smart said Slim Chickens had signed commitments from franchisees for 20 more outlets. “Our plan is to be at 50 commitments by the end of this calendar year,” he said.

The company declined to disclose its revenue in the SEC filing, but in April, Gordon and Smart put Slim Chickens’ annual revenue in 2013 — counting every unit — at between $15 million and $20 million.

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