The nation’s largest Italian QSR brand signs area development agreements with three current franchisees to add 10 new locations to rapidly growing pipeline
Lexington, KY (RestaurantNews.com) Fazoli”;s is enjoying significant franchise development growth led by its current franchisees. The brand”;s forward-thinking strategy and innovative approach is designed to position its franchisees for success. As a result, Fazoli”;s current operators are expanding their portfolios to grow the iconic Italian brand”;s footprint across the country.
This year, three existing franchisees have inked agreements to build on their success with the leading Italian QSR brand. Under the new deals, Fazoli”;s will develop locations in new markets throughout Kentucky, North Carolina, North Dakota, South Carolina and South Dakota.
“;While Fazoli”;s continues to attract the attention of prospective franchisees, we”;re also providing our existing operators with world-class support and a solid plan that is delivering on results,”; said Fazoli”;s CEO Carl Howard. “;Our franchisees are family and we continue to create new opportunities to help them thrive in their markets by driving sales and traffic. We”;re seeing excitement from our current franchisees about the future of the brand, and we believe Fazoli”;s has significant growth potential for 2022 and beyond.”;
The recent agreements support Fazoli”;s strong growth trajectory. In 2022, the renowned brand has plans to open 20 new locations -; doubling its 2021 growth. Fazoli”;s also plans to sign 40 new franchisees. With double-drive thru prototypes in the works, plus limited-footprint and nontraditional models, including virtual kitchens, and an attractive conversion incentive, the brand offers multiple avenues for prospective franchisees to join the Fazoli”;s family.
For the past year and a half, Fazoli”;s has been increasing development through its Franchise Conversion Incentive Program, which led to half of its openings being conversions in 2021. With the compelling incentive strategy, Fazoli”;s allows franchisees to sign a short five-year term, versus the typical 15-year commitment, with zero franchise fees and zero royalty fees in the first year. Fazoli”;s also reduced many of its conversion requirements to make it feasible for operators to open a 2,000 to 3,500 square-foot restaurant for under $350,000.
Additionally, Fazoli”;s is creating three new concepts designed to capitalize on its surge in off-premise revenue. A new 1,700-square-foot double drive-thru prototype, and a 2,200- and 2,500-square-foot prototype are under development to provide potential franchisees with the most cost-effective solutions to serve Fazoli”;s guests while optimizing the best bottom line.
About FAT (Fresh. Authentic. Tasty.) Brands
FAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets, and develops fast casual, quick-service, casual dining, and polished casual dining concepts around the world. The Company currently owns 17 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli”;s, Twin Peaks, Great American Cookies, Hot Dog on a Stick, Buffalo”;s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises over 2,300 units worldwide. For more information on FAT Brands, please visit www.fatbrands.com.
About Fazoli’s: Fast. Fresh. Italian
Founded in 1988 in Lexington, Ky., Fazoli’s owns and franchises nearly 220 restaurants in 27 states, making it the largest premium QSR Italian chain in America. Fazoli”;s prides itself on serving premium quality Italian food, fast, fresh and friendly. Menu offerings include freshly prepared pasta entrees, Submarinos® sandwiches, salads, pizza and desserts -; along with its unlimited signature breadsticks. Fazoli”;s is a winner of FastCasual and Steritech”;s 2020 Excellence in Food Safety Award and was named one of the “;Top 50 Global Fast Casual Innovators in 2021”; by Foodable, a “;Top 200 Franchises in 2021”; by Franchise Business Review, a FastCasual “;Brand of the Year,”; and an Entrepreneur 2018 “;Franchise 500.”; CEO Carl Howard was named among the most influential restaurant CEOs in the country in 2020 by Nation”;s Restaurant News, was recognized as one of the top 25 industry leaders on FastCasual”;s 2021 Top 100 Movers and Shakers list, and he and his team were recipients of the 2021 American Business Awards Gold Stevie Awards in Food & Beverage for Company of the Year and Achievement in Management.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the timing and performance of new store openings, growth in same-store sales and the addition of new franchisees. Forward-looking statements reflect expectations of FAT Brands Inc. (“;we”;, “;our”; or the “;Company”;) concerning the future and are subject to significant business, economic and competitive risks, uncertainties and contingencies, including but not limited to uncertainties surrounding the severity, duration and effects of the COVID-19 pandemic. These factors are difficult to predict and beyond our control, and could cause our actual results to differ materially from those expressed or implied in such forward-looking statements. We refer you to the documents that we file from time to time with the Securities and Exchange Commission, such as our reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of these and other factors. We undertake no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date of this press release.
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