Brooklyn Dumpling Shop’s CEO Jeff Galletly laid out his vision for the chain, its aggressive franchising strategy, and discussed some of the challenges facing restaurants in an interview with Restaurant Dive.
Restaurant Dive’s Post
More Relevant Posts
-
Managing Director at FMS Franchise | Vice President at Franchise Funding Solutions | Expansion Advisor | Board Member
The Red Lobster Franchise, once a beacon of success and a staple in the casual dining industry, has faced significant challenges in recent years, leading to a decline in its fortunes, store closings and declining store sales. From its humble beginnings as a single seafood restaurant to its expansion as a global franchise powerhouse, Red Lobster’s journey is marked by triumphs, innovations, and a commitment to excellence. However, shifting consumer preferences, increased competition, and strategic missteps have contributed to the downfall of Red Lobster in recent years. In this overview, we’ll explore the rise and fall of Red Lobster, examining the factors that have led to its decline and its struggle to regain its former glory. #redlobster #redlobsterfranchise #fmsfranchise #franchise https://lnkd.in/efXPY4c4
Red Lobster Franchise: A Journey from Success to Struggle
https://www.franchiseconduit.com
To view or add a comment, sign in
-
Protect Your Business with Expert Franchise Reviews | Streamline Your International Trade Compliance Efforts | Get Professional Advice on Regulating Your Growing Franchise System
Working with restaurants in the franchise industry, we often view business operations with a keen eye for detail - spotting trends, tracing patterns, and understanding market dynamics. It's no secret that the restaurant industry, like many, has been dealt severe blows over the last four years due to the pandemic, drastic customer changes, and most recently, rampant inflation. And it seems that even the most enduring brands are not immune - the latest to be ensnared in these challenges is Red Lobster. Red Lobster, a fixture in the American dining scene for decades, is reportedly on the brink of filing for Chapter 11 bankruptcy protection. This comes after a tumultuous period in which the seafood chain was forced to shutter almost a hundred of its locations and auction off assets amidst crushing financial strain. Thai Union Group, the majority owner, is said to be racing to offload its stake in the struggling chain. But Red Lobster isn't taking this lying down. The appointment of Jonathan Tibus, as the new CEO, is a strategic move designed to steady the ship. Tibus, known for his expertise in steering distressed restaurant chains, could be pivotal in Red Lobster's fight for survival. A Chapter 11 filing may provide an avenue for renegotiating leases and contracts with creditors, wiping off debt, and ultimately allowing the chain to regain its footing. Yet, this struggle is not unique to Red Lobster. It's unfortunately becoming a familiar narrative for many in the restaurant industry, who have been grappling with the fallout from COVID-19, significant customer changes, and spiraling inflation. Red Lobster's recent crisis further underscores the fragility and vulnerability of the sector. These are challenging times, but they're also times of transformation. As we navigate these unsure waters together, let's discuss what this shake-up means for the franchise industry at large. Do you believe this is a temporary stumble or are we witnessing a tectonic shift in the sector? #restaurants #franchise #franchising
To view or add a comment, sign in
-
It's one thing to have a great solo concept, it's quite another to scale up that concept into a franchise. A panel at the Restaurant Franchising and Innovation Summit looked at how restaurants can scale up from start up to full growth mode. https://lnkd.in/epRYmdfk
How to scale up restaurant brands
fastcasual.com
To view or add a comment, sign in
-
In the restaurant sector, all the talk is about franchise M&A. Which ones should investors eye next? Read my analysis to find out. https://lnkd.in/ekz8mQ-Z
Two Franchise Sectors That Couldn't Be Hotter
themiddlemarket.com
To view or add a comment, sign in
-
Cracking the code of restaurant franchising? The recent Summit revealed secrets to success! From picking the perfect partner to mastering tech & customer experience upgrades, franchisors need a strategic playbook to win the game. #RFISummit https://lnkd.in/eTnqCrjh
Winning at the franchising game
qsrweb.com
To view or add a comment, sign in
-
I took a dive into some recent results from Culver's. Since 2019, the brand has opened 262 locations and should finish 2024 with just short of 1,000 restaurants. Meanwhile, stores are averaging nearly $3.5 million, which is significantly higher than pre-COVID, when the figure was $2.435 million. That $3.5M performance, going off last year's QSR 50, would trail only Chick-fil-A, Raising Cane's, Shake Shack, Whataburger, and McDonald's among the top 50 grossing quick-serves in America. And Culver's continues to do all of this without straying from its founder-led principles dating back to 1984—food made to order, hospitality first, and a commitment to employee care. Interesting how in this business, while never easy to execute at scale, brands often win by delivering on the ticks of hospitality guests have always cared about, no matter what crazy thing is going on in the world.
Culver's is Quietly Becoming a Fast-Food Powerhouse - QSR Magazine
https://www.qsrmagazine.com
To view or add a comment, sign in
-
Austin Turner KTLA reports on franchise business in California. "A popular fast-casual pizza chain founded in Southern California will soon be taking its headquarters to the South, according to reports. First reported by Restaurant Business Online, Blaze Pizza, LLC, which first opened its first store in Irvine before expanding throughout the U.S. and internationally, will be moving its HQ from Pasadena to Atlanta. NBA legend LeBron James joined on as a part-owner in 2012. In a statement to Restaurant Business, Blaze’s CEO cited opportunities for growth as reasoning for the transition. California is where this brand was born more than a decade ago, and we have a tremendous heart for communities across the state where so many of our restaurants are,” CEO Beto Guajardo said in a statement. “Moving our corporate headquarters to Atlanta will help us drive our next wave of growth.” The move to the South aligns with population trends in the nation, as more and more people are moving to that part of the country. Blaze was founded in 2011. The chain serves pizza in a manner similar to a sandwich shop, where customers select ingredients for their pies as the workers create them. s of the end of 2023 the chain operated 295 units in the U.S., including 93 in California, according to Restaurant Business. It currently operates just five locations in Georgia. Though Blaze didn’t specifically state that the departure was due to any concerns with the cost of business in California, studies in recent years have shown that companies are fleeing to cheaper states. A 2022 Kosmont-Rose Institute Cost of Doing Business Survey showed that Los Angeles County was the most expensive in Southern California for running a business." https://lnkd.in/eKZ3_SYS #QSR #Entrepreneur #Restaurants #Franchise #Franchising #FranchiseChat Chainformation Altir Industries, Inc. Selling Franchises Boot Camp Titus Center for Franchising at Palm Beach Atlantic University Franchise Pipeline Franchise Development Outsource Ned Lyerly Joe Caruso Michael (Mike) Webster PhD Anders Hall Jonathan Martin Michael Scherr Delaney Hetzer Dr. John P. Hayes, CFE
This popular pizza chain is moving its headquarters out of California
https://ktla.com
To view or add a comment, sign in
-
Ron Ruggless Nation's Restaurant News tells us TGI Fridays combining with Hostmore plc the brand’s largest global franchise owner and the US company would be a publicly traded listing on the London exchange "TGI Fridays has agreed to merge with its 89-unit United Kingdom-based franchisee, Hostmore plc, the companies announced Tuesday. Dallas-based Fridays said Hostmore was its largest global franchisee. Terms of the all-share merger were reported to be about $220 million U.S. The companies said the deal, which is expected to close in the third quarter 2024, would offer the casual-dining restaurant company operational and financial flexibility and increased scale and capital to deliver continued revenue. The combined company would be traded publicly on the London Stock Exchange as “TGIF.” TGI Fridays said it had $1.4 billion in systemwide sales in 2023. Upon completion of the transaction, the new combined entity would be named TGI Fridays plc. The brand’s U.S. and global operations would remain at the company's Dallas headquarters under the leadership of Weldon Spangler, the current CEO, the brand said. The combined entity would have 189 corporate-owned restaurants in the United States and the United Kingdom for nearly 600 restaurants across 44 countries. In January, TGI Fridays said it would be closing 36 underperforming U.S. locations and sell eight restaurants to its former CEO. "We have been laser focused on revitalizing the brand and driving growth through consumer-centric offerings, the optimization of our restaurant portfolio and the addition of senior team members,” Spangler said in a statement. “This transaction represents the next step in our journey as it increases our corporate-owned restaurant locations and provides capital to expand our presence globally.” Stephen Welker, chairman of Hostmore, said: “This acquisition would give us the scale and flexibility to accelerate our existing strategy and enhance the financial outlook for Hostmore and scope for shareholder returns.” TGI Fridays is controlled by TriArtisan Capital Advisors, a U.S.-based private-equity firm, with ownership stakes in several global consumer recognized dining concepts including P.F. Chang's China Bistro and Hooters of America, the sports bar, media, and entertainment company." https://lnkd.in/ep_PHsSx #QSR #Entrepreneur #Restaurants #Franchise #Franchising #FranchiseChat Chainformation Altir Industries, Inc. Franchise Pipeline Franchise Development Outsource Ned Lyerly Joe Caruso Michael (Mike) Webster PhD Anders Hall Jonathan Martin Michael Scherr John Neitzel Christer Jansson
TGI Fridays agrees to merge with 89-unit U.K. franchisee
nrn.com
To view or add a comment, sign in
-
Managing Director at FMS Franchise | Vice President at Franchise Funding Solutions | Expansion Advisor | Board Member
What are the Top Franchise Restaurant Chains by Average Store Sales Volume? When evaluating the success of restaurant chains, average store sales volume is a critical metric. It reflects the efficiency, popularity, and profitability of individual locations within the chain. This article delves into the top restaurant chains by average store sales volume, examining their business strategies, menu offerings, and the factors driving their impressive per-store earnings. #FMSFranchise #Franchising #FranchiseAdvisors #FranchiseConsultant #Franchiseyourbusiness #restaurantfranchise
What are the Top Franchise Restaurant Chains by Average Store Sales Volume?
https://thefranchisecourier.com
To view or add a comment, sign in
7,634 followers