Chi-Chis

About the offering

Chi-Chi’s is relaunching with two Minnesota sites and a franchise model designed for scalability, with plans to explore national expansion. Chi-Chi’s was a beloved household name from 1975-2004, with 200+ restaurant locations and a dedicated fanbase. Our relaunch announcement has been covered by CNN, TIME, Forbes, The Today Show, NBC, and The New York Times—demonstrating the excitement around Chi-Chi’s return. The U.S. Mexican restaurant market is valued at $95.3 billion and growing 5.2% annually, with an increasing demand for high-quality, full-service dining experiences. CEO Michael McDermott, the son of the original founder, brings deep-rooted knowledge of the company’s history and the hospitality business. Having successfully taken Kona Grill public with a $30M IPO, he leads a team of dining industry veterans with decades of experience in launching and scaling national restaurant brands. The Pitch The Comeback You've Been Waiting For.. Remember Chi-Chi’s? The smell of fresh tortillas, the sizzle of fajitas, and the legendary deep-fried ice cream. For millions, Chi-Chi’s wasn’t just a restaurant—it was a tradition. Birthdays, first dates, Friday night margaritas—Chi-Chi’s was where memories were made. From 1975 TO 2004, it was one of the most beloved names in Mexican dining, with over 200 locations across the U.S. After 20 years, it’s finally coming back. And for the first time ever, you can be part of it. A FAMILY LEGACY, A PERSONAL MISSION: For Michael McDermott, bringing back Chi-Chi’s isn’t just business—it’s personal. “I grew up inside Chi-Chi’s restaurants. I watched my father and uncle build something people loved—not just a restaurant, but an experience that made people happy. After years of running my own restaurants, I woke up one morning during meditation and realized: It’s time. So, I called my father, Chi-Chi’s co-founder, and my uncle, Chi-Chi’s first VP, and they both said the same thing: ‘It’s time to bring it back.’” Michael has spent decades in the restaurant industry, successfully launching and running multiple concepts, including Rojo Mexican Grill and Tavern23 in Minnesota, as well as Sushi on Shea and Kona Grill in Arizona. Now, with his experience and a deep emotional connection to Chi-Chi’s, he’s reviving the brand for a new generation. THE WORLD IS ALREADY TALKING ABOUT CHI-CHI'S: Since our announcement, the excitement has been overwhelming. People aren’t just excited—they’re ready. *These testimonials may not be representative of the experience of other customers and are not a guarantee of future performance or success. Now, they can do more than celebrate—they can invest. WHERE YOUR INVESTMENT GOES With your investment, Chi-Chi’s aims to re-establish its presence with an eye on future growth Why Now Is the Perfect Time for Chi-Chi’s to Come Back: The U.S. Mexican restaurant industry is worth $95.3 billion and continues to grow at 5.2% annually, fueled by increasing demand for authentic, high-quality dining experiences. (Source 1 and Source 2) Despite this, no dominant national full-service Mexican brand exists, leaving a significant gap in the market. Chi-Chi’s seeks to leverage its iconic brand recognition, nostalgic appeal, and premium dining experience to re-enter the market. Here’s how Chi-Chi’s wins: Our restaurants feature: Open kitchens where guests can see their meals being prepared, Freshly made tortillas served daily, A vibrant bar area with over 100 tequila options Starting with two Minnesota locations, our franchise model is designed to allow for potential expansion. With a strong licensing agreement with Hormel Foods and a loyal brand following, we believe Chi-Chi’s is positioned to reclaim its place as a leading name in Mexican dining. We believe it’s more than a restaurant comeback—it’s a strategic market opportunity. For 20 years, Chi-Chi’s has been gone. But the love for it never faded. Now, we’re bringing it back. And for the first time ever, YOU can own a piece of the company. We believe this is an exciting opportunity, backed by a well-known brand and an experienced leadership team with prior restaurant industry success.

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