Chalak Mita Group Managing Director Pushpak Patel gives a glimpse inside the well-diversified company built on the trust between best friends at the 2016 Restaurant Finance & Development Conference. The group is growing every which way from QSR to hotels and even a Jamaican cricket team.
Partner and attorney Derek Ladgenski of Katten Muchin Rosenman LLP discusses the “active” M&A market at the 2016 and his outlook for 2017 at the Restaurant Finance & Development Conference. And what’s going to happen when interest rates ticket up? Ladgensky says nobody really knows, “all you can do is get ready.”
Area director and multi-unit franchisee Bill Mapes discusses what kind of franchisee Jersey Mike’s is looking for, and how the company looks for people who fit the company values before they’re in the system.
What can a restaurant do in this landlord’s market? Jim Haslem of CS Advisors has more than three decades of experience negotiating leases and seeing what works at restaurants. He explains how to get to the right rent metric at the 2016 Restaurant Finance & Development Conference.
All the gnashing of teeth over the SBA Registry rule change may be for naught, since the four points the SBA has pulled out into an addendum are best practices most franchisors are already doing. Or so said a panel of franchisors and lenders that discussed the rule change on a webinar today presented by BoeFly.
When a franchise operator announces 200% growth through a single deal, it’s generally a second location. At GPS Hospitality, it means nearly 200 additional restaurants.
Vitamin and supplements brand GNC Holdings announced last week that it will launch a bold new company revamp, closing all U.S. corporate stores on December 28. After adding a new pricing structure and tech enhancements, the company will reopen December 29 with the launch of One New GNC.
What started with a few Irish pubs in Boston has grown to become The Briar Group, a collection of 14 restaurant concepts ranging from casual bar to upscale dining. And as CEO Austin O’Connor tells Franchise Times’ Laura Michaels, location and authenticity are what drive growth.
Ranked No. 46 on Franchise Times’ Top 200+, Popeyes Louisiana Kitchen continues its expansion. And with about 90 percent of the growth coming from existing franchisees, “that speaks volumes about the strength of the company, the strength of the brand,” Director of Franchising Renee Lewis tells Franchise Times’ Laura Michaels.
It’s a $10 billion real estate investment trust, but Spirit Realty Capital also sees itself as a capital provider to help franchisors and ‘zees grow their business, says April Ronchetti Little, senior vice president of acquisitions. That makes selecting tenants with strong management teams a priority.
Bill Simon, co-founder, president and CEO of Freddy’s Frozen Custard & Steakburgers, age 61, died December 17 after a battle with cancer, the Wichita, Kansas-based company announced today. “He led the company through unparalleled growth with a steady vision, and encouraged everyone he encountered to maximize their potential,” the company said.
All-natural burgers, fries, sides and buns have become the new normal at North Palm Beach, Florida-based BurgerFi. Winograd talks supply chain challenges in sourcing better ingredients across its growing network.
With increase competition from grocery stores and fast-casual restaurants, Tony Roma’s Steakhouse COO Brad Smith on the concept’s recent rebranding aimed at luring millennial diners.
Tom Kaiser talks with Roland Spongberg, president and CEO of WKS Restaurant Group is bullish on the restaurant market going forward, and expounds on his plans for adding 12 new restaurants in 2017.
Famous Dave’s, the Minnetonka, Minnesota-based barbecue chain, has struggled mightily in recent years as the casual dining segment has slowed and the company has cycled through a succession of CEOs and other top-level management.
Some brands are setting themselves up to be left out in the cold as more companies spring up to bring meals, groceries, clothes and other daily items right to the consumers, with no need to hop in the car to visit an actual storefront.
International travel always sounds glamorous, but it’s hard on the body and the mind (not to mention the spouse left with all the domestic work). Here are some tips from Raja Joshi of Golden Chick on how he survives trade missions and other trips abroad.
Remember the old 'How many (fill in the blank) does it take to screw in a light bulb?' joke? I don’t know the answer to that one, but at the Mumbai airport it takes five workers to dust a light fixture. More on the franchise trade mission to India/Sri Lanka.
Earlier this week, Marcato Capital CEO Mick McGuire, sent another inflammatory statement to franchisees of Buffalo Wild Wings that, among other things, urged a radical increase from the company’s current 49 percent franchise standing.
Captain D’s has a new look, which will be complete by the end of 2017, and a new-ish line of grilled products, and Chief Development Officer Michael Arrowsmith describes the tricky business of appealing to new customers while keeping the old, with Franchise Times’ Beth Ewen.
Matthew Corrin, founder of Freshii and a former employee of the high-end fashion designer Oscar de la Renta, discusses why he likes to follow fast-fashion players like Zara in his brand’s development of menus. “If you’re not staying cutting edge you’re not staying relevant,” he told Franchise Times’ Beth Ewen.
Christina Chambers joined Huddle House, the venerable casual dining chain, last August, along with a new management team backed by private equity investor Sentinel Capital, and one of the biggest initiatives was a remodel program. “So taking a brand that is 52 years old and making it new again, which is about as hard as it sounds,” she told Franchise Times’ Beth Ewen.
Everybody who hates when people text at the movies (in other words, everybody over the age of 35) should check out Alamo Drafthouse Cinemas, a growing chain of movie theaters with restaurants that absolutely don’t allow it.
Just weeks before the latest franchise mission board planes to go to India, the prime minister demonetized the two bills that account for 85 percent of the cash spent on a regular basis.
“The weight of government coercion has become so heavy, it is no longer possible to ignore,” declared Andy Puzder, CEO of CKE Restaurants, who was reportedly picked today to be secretary of labor by President-elect Donald Trump. We didn’t have to go far to learn his views, because Puzder was a keynote speaker last month at the Restaurant Finance & Development Conference, presented by FT’s sister publication.
Americans think we know how to decorate for Christmas, but we can’t hold a candle to the décor at the Cinnamon Grand in Sri Lanka. Here's the next installment in Editor Nancy Weingartner's adventures on the South Asia franchise trade mission.
Editor at Large Nancy Weingartner joined the franchise trade mission to India and Sri Lanka the first week in December. Here is the first installment of her adventures in international franchising.
Sonic is a chain of drive-in restaurants, and its CFO Claudia San Pedro says interactive touchscreens in each of 18 to 24 stalls at each unit is one key to drive sales growth.
Scott Milas chatted with Franchise Times’ Beth Ewen at the Restaurant Finance & Development Conference. They discuss Wayback Burgers franchise, which touts a relatively low $300,000 to $400,000 cost to get a unit started and a stripped-down operating plan.
After waiting for months for new rules from the U.S. Small Business Administration, lenders and franchisors just received them in a surprise notice—and they’re upending the usually routine business of making government-backed loans to franchisees.
After working on our Food on Demand media project, this editor's holiday gifts will not only be delivered by a third party, they'll be reoccurring. And her gift to you is an informative e-newsletter on this demanding and disruptive new trend for restaurants and the foodservice industry.
Freshii, the Toronto-based fast-casual brand with a focus on healthy eating, announced a master franchise agreement that will add 20 new locations in Australia. In addition, it has inked a new retail partnership with Walgreens, its second big-name non-traditional partnership after signing a similar deal to add locations within Target stores.
In unveiling a range of new sustainable practices, California-based Chronic Tacos is the latest franchised brand to turn its transparency mantra into a marketing message with its new “Nothing To Hide” campaign.
In a last-minute decision, a judge in Texas has put the nationwide overtime rule on hold just days before it was set to go into effect December 1, 2016.
Whatever side of the aisle you’re on politically, most agree that the election of Donald Trump as the next President of the United States was a surprise. Like most industries (and people), franchising is trying to asses the implications of our next president, and his agenda that promises to be a significant departure from what we’ve seen under the Obama Administration.
It's been a volatile year for restaurant stocks, especially many franchised restaurant brands. But since the election, most stocks on the Franchise Times watch list have seen a dramatic lift.
The founders of Zingerman's Deli shared their strategy of "sharing lavishly" at the Restaurant Finance & Development Conference Wednesday, an antidote to all the laments over a rising minimum wage heard elsewhere at the conference.
To stay current and relevant in this overcrowded restaurant environment, eateries need to maximize value with a focused menu, serve craveable food and give a sincere nod to customization, according to Larry Reinstein, president of LJR Hospitality Ventures.
Americans are more familiar with the concept of a food court than with a food hall. And while “there’s no meaningful difference” between the two versions of a collection of restaurants under one roof, one is associated with fast food and pit stops for shoppers, while the other, a British term, conjures up visions of trendiness.
Instead of fighting over the same box everyone else wants, many brands are looking seriously at shared spaces such as food halls.
As a franchise reporter for two years now, I’m continually amazed by the amount of research, brainpower, cultural/regulatory awareness and personal time spent traveling to bring U.S.-based brands to overseas markets.
With more cities adopting higher minimum wages across the country, and talk of a nationwide wage increase, franchisors and franchisees of restaurant brands have some real decisions to make. Primarily, where does the money come from to pay employees wages that are much higher in some municipalities?
The session was titled “Revenge of the Independents: How Multi-unit Independents and Chefs Are Shaking Up Legacy Chains.” But as the discussion progressed on the last day of the Restaurant Finance & Development Conference in Las Vegas, it became clear independents actually look to emulate chains in some ways.
By the time CKE’s CEO Andy Puzder was introduced on the second day of the Restaurant Finance & Development Conference in Las Vegas, no introduction was needed.
Launching Freshii, the Toronto-based fast casual restaurant concept focused on health and wellness, was “scrappy and at times quite painful,” founder Matthew Corrin told those gathered for the founders panel at RFDC. “But now we maximize every dollar we spend."
“It’s great to be here,” said astronaut and U.S. Navy Captain Scott Kelly, to open his keynote address at the Restaurant Finance & Development Conference today. “After being in space for a year it’s great to be anywhere with gravity.”
Goodbye, Diet Dr. Pepper Cherry Vanilla. Hello, probiotic-infused drinking vinegars. That’s the gist of the beverage forecast from George Hiller, Hiller & Associates, who presented on “The Sugar Water Revolution” at the Restaurant Finance & Development Conference today.
“Anyone who tells you they saw it coming is lying—the data was not there to support the outcome,” said Hugh Hewitt, a radio commentator and a conservative political analyst on NBC, speaking, of course, about Donald Trump’s victory in the presidential election, along with Juan Williams, a Democrat who opines for Fox News.
C-level officers of the smartest-growing franchises are sharing their wisdom with our reporters, as we prepare our exclusive Fast & Serious ranking for the January issue. Here are a few of my favorites so far, with many more to come.
A changing U.S. administration will likely represent a major course change at the International Franchise Association now that several of its most pressing issues are teed up for a more favorable outcome under the future President Trump.