Now may seem like a dangerous time for franchise expansion, but Matt Stermer says there’s no better time for growth.

He’s the U.S. CEO of Oil & Vinegar, a brand of culinary specialty shops that targets upscale markets.

What Stermer sees is an opportunity to take advantage of growing vacancy rates.

“This is the time to put your foot on the gas in terms of securing a good location,” he said.

Oil & Vinegar has five units in the United States, including a shop and headquarters in Bellevue. Stermer is looking to add more locations– regardless of how stormy the economy looks.

The brand’s mainstay is gift giving. Oil & Vinegar offers a variety of Mediterranean-themed culinary products, including oils on tap, vinegars, sauces, olives, herbs, and sun-dried tomatoes – things you can easily mix and match for a $30 present.

Stermer suggests this gives the brand a tolerance for recessions.

“The concept is resilient,” Stermer said. “Gift giving doesn’t go away because the economy is bad. You still have birthdays, anniversaries, and corporate gifts.”

Stermer also suggests that now is a good time for laid-off jobseekers to try venture out on their own.

“This is an opportunity to move from the corporate rat race to a business opportunity,” he said.

Stermer expects to have up to four more franchises in the Puget Sound area within five years.

Other target regions are located in Oregon, Michigan, Illinois, Arizona, Colorado, and several states along the Southeastern seaboard.

The ideal place for an Oil & Vinegar shop is at an upscale mall, according to Stermer.

The Bellevue store is located at the Bellevue Square Shopping Center.

Joshua Adam Hicks can be reached at 425-453-4290.