Randy Icard heads up development for Bojangles, and he’s signed a number of franchise agreements in the Southeast recently. “We’ve got a lot of traction and a lot of movement right now in the state of Florida,” he said. All-day breakfast—and the homemade biscuits, especially— is a huge attraction, and their restaurants do 38 percent of their business by 11 in the morning. “We’ve made biscuits from scratch every 20 minutes from day one,” Icard told Beth Ewen of Franchise Times, at the Restaurant Finance & Development Conference.
The Financial Accounting Standards Board (FASB), which sets U.S. GAAP standards, has clarified key language around its new revenue-recognition guidelines.
Could there be anything more soothing and perfectly timed than the current Applebee’s special offering $1 Long Island Iced Teas? The answer is no, and judging from my social feeds, this is one of the most effective and widely shared LTOs in recent memory. We all owe Applebee’s our deepest gratitude in this difficult time.
Ed Yancey considers Cleveland Avenue, a private equity firm created by former CEO of McDonald’s Don Thompson in Chicago, as an incubator for innovative restaurant concepts. Cleveland Avenue invested earlier this year in PizzaRev, a 40-plus-unit pizza chain in Los Angeles. “It’s a great concept, and we have the capability to expand its growth,” said Yancey, who sat down with Franchise Times Editor-in-Chief Beth Ewen at the Restaurant Finance & Development Conference in early November.
Quaker Steak and Lube was bought out of bankruptcy by TravelCenters of America about 18 months ago, and for several months newly promoted VP of Operations Bruce Lane has been working on relationships with franchisees and making the restaurants more profitable. Editor-in-Chief Beth Ewen sat down with Lane at the Restaurant Finance & Development Conference in Vegas to learn more about the growth plan.
It’s not every day that a Buddhist monk blesses your franchise, but that’s what happened last week at the first Anytime Fitness gym to open in Bangkok.
Arby’s Restaurant Group, Inc. and Buffalo Wild Wings, Inc. today announced that the companies have entered into a definitive merger agreement under which ARG will acquire BWLD for $157 per share in cash, in a transaction valued at approximately $2.9 billion, including BWW’s net debt.
Working with Amazon and DoorDash, IHOP is rolling out delivery in select cities in California, Texas, Oklahoma, Washington and Utah as it aims to bring pancakes to guests the company said don’t always have the time or desire to sit down in the restaurant.
Today it’s hard to believe that McDonald’s didn’t always exist as the original disrupter of the nation’s food scene, but a recent talk by author Lisa Napoli on the subject paints the picture that seems especially appropriate to share today, on the eve of our No. 1 food holiday.
It’s time for the founders of Amazing Lash Studio, Vietnamese immigrants Edward and Jessica Le, to exit their franchise and reap some of the rewards, says Heather Elrod, president and COO of the eyelash extension franchise now based in Scottsdale, Arizona. She announced earlier this month Amazing Lash is seeking strategic alternatives including a sale for the brand founded in 2010 in Houston, and now with more than 300 studios awarded and 160 of those open and operating.
How the various third-party delivery providers stack up is a big question in the restaurant space. According to a new cache of data from mystery shopping and survey firm SeeLevel HX, things are fairly even in an ever-changing segment of the industry.
Sales are mediocre, traffic is down but some internationally minded restaurant groups are not worried. That’s because while there are challenges in the U.S. market, there is an incredible amount of opportunity abroad.
Since its April 13 deal with GEM Hospitality to bring Tony Roma’s to West Palm Beach, Florida, the brand has added new franchisees in Tennessee, Colorado and Idaho, growth CEO Bradley Scher says is a direct result of the brand transformation undertaken in 2016 with a complete overhaul of the restaurant atmosphere, service platform and menu following extensive consumer research.
Chief financial officers do much more today than pay the bills and make sure payroll goes out on time, said a panel of CFOs who opened the Restaurant Finance & Development Conference Monday in Las Vegas. “The role has become much more strategic over the last 10 years,” said Tony Laday, CFO of Fogo de Chao.
Forget whatever you’re hearing about the tax bill, smaller-format locations or hot trends in M&A. There is one dominant trend in the restaurant world that everybody is paying attention to and it’s third-party delivery. This subject is everywhere on the agenda and in soda break conversations at the Restaurant Finance & Development Conference. It’s almost as inescapable of blue suits, which are clearly in the running for second place.
Securitization has been a hot topic for other industries in the past. But now, some of the biggest franchised brands are turning to securitization to finance their companies.
“I’m really just a burger guy, that’s what I want to eat,” says Bobby Flay, speaking this morning at the Restaurant Finance & Development Conference in Las Vegas. Cheeseburgers are what he craves after a long night in the kitchen and are at the core of Bobby’s Burger Palace, which is poised for rapid expansion following Flay’s announcement today that he’s going to start franchising and licensing the fast-casual concept.
The founders of Walk-On's, Culver's and Toppers revealed some alternative names for their brands, on a panel today at the Restaurant Finance & Development Conference.
During the second day of RFDC in Las Vegas, Stephen Polanski from Buxton spoke all about the changing world of shopping malls and what that means for the restaurant and retail brands that are heavily invested in malls or curious about which centers are worth expanding into in this era of changing consumer tastes.
For any boomers or Gen X-ers who love to hate on the “kids today,” the founder of Toppers Pizza has a few words for you: knock it off. “I meet so many 20-year-olds in my business, and these people can do anything. They are special people,” Scott Gittrich told me in an interview today at the Restaurant Finance & Development Conference.