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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

TGI Fridays files for bankruptcy in the US The chain was founded in New York in 1965, its 56 franchises are operating in 41 countries across the globe under the TGI Fridays brand, including Russia NEW YORK, November 2/ The owner of TGI Fridays restaurants has filed for bankruptcy in the United States, the casual dining chain’s press service said. "TGI Fridays Inc., the owner and operator of 39 domestic restaurants in the TGI Friday's casual dining chain, today filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code in the Northern District of Texas," the company said. The chain, founded in New York in 1965, expects "to use the time and legal protections made available through the Chapter 11 restructuring process to allow the Company to explore strategic alternatives in order to ensure the long-term viability of the brand," it noted. Fifty-six franchises are operating in forty-one countries across the globe under the TGI Fridays brand, including Russia. Franchise locations both in the US and overseas will continue operating and servicing customers as usual as they are not affected by the bankruptcy process. According to Bloomberg, Red Lobster, Bucca di Beppo, Rubio's Coastal Grill and Tijuana Flats restaurant chains also filed for bankruptcy earlier this year. #business #finance #financialservices

SIDE STREET FANS & FRANCHISEES HAVE THEIR SAY... Side Street Burgers is preparing to open more stores, welcoming two new multi-unit franchisees and their teams to the network. In the meantime, this is what our existing multi-unit partners had to say about their experience as Side Street franchise owners: "It has been an absolute pleasure working with the owners of Side Street Burgers in opening a franchise store. The support and guidance received by both Idrees & Yasir, and by their team, and their willingness to take on feedback, has made this entire process so much easier. They have a refreshing outlook to franchising which is rare to see. Furthermore, what has been truly inspirational for me as a franchisee is seeing and understanding their vision for the brand and their excitement towards it." Suhail, Walthamstow, Reading and Green Street (Upton Park) "I was looking in the market to bring something exciting and fresh to Bonnyrigg. This is one of the many reasons why Side Street and Us fitted so well. They are a brand who have exceeded our expectations from the moment we declared interest in Franchising. We will be opening more branches following the success of Bonnyrigg. This wouldn’t have been possible without the support we receive on a daily basis. The team at Side Street have consistently given us guidance on how to improve in the branch, and where we can make the 1% difference everyday to become better. The rapid growth of the brand is exciting for us and anyone else associated with them". - Ali, Edinburgh, Scotland "I’ve been following Side Street since their birth in 2020, watching how they’ve differentiated themselves from others who were serving Smash Burgers. My experience has been amazing, I now have multiple franchises with them and with every branch I have seen the same consistent support. Side Street has put in a structure from the top down, to ensure no branch is on its own from the start. It’s been a pleasure working with everyone, especially the proactive and creative marketing team." - Mubeen, Rochdale & Fallowfield, Manchester If that's not all, with the roll out of new products, let's hear what the fans had to say about the new American BBQ menu. Side Street - The Burger Revolution | All Halal Menu | Big Food, Big Flavours Joshua Ryan Franchise Futures UK - A Food & Beverage Consultancy #franchise #hospitality #qsr #foodindustry #foodie #restaurants #foodandbeverage #retail

Can You Finally Open a Panda Express Franchise? (Cost + Analysis) Fast-casual restaurants are sprouting up all over the United States and they’re expected to continue growing at a rate of 10.6% until 2032 in spite of challenges to the industry as a whole. These types of restaurants are known to serve high-quality food in a casual setting. Many also deem them to be healthier compared to fast-food. Whatever the case, fast-casual restaurants are on the rise and one of the top players is Panda Express. https://lnkd.in/gHJaRHAX

I decided to go to Kroger AND Publix today for sushi Wednesday because why not? Kroger is $6. The # of sushi is the same. I realized the packaging is the same...of course, the business side of me...I had to figure out who is this Zenshi contractor. They aren't just contractors...they are a franchise! Which means I can get a hold of their Franchise Disclosure Document. There is no item 19 (financial representation) but I gleaned other tidbits. First their franchisee fee is low. I've been used to seeing high franchise fees that shaft you... $60k vs $6k. Someone needs to pay the franchise broker, after all (no offense to my franchise broker friends...) The grocery store takes 25% of revenue. Most are owner operators, which is probably why I see the same person there for many years. The list of ~4000 franchisees seems to be all Asian Reddit says they make decent money but work 7 days a week..but again, no Item #19, no easy way to find out. The working 7 day a week to keep fresh sushi stocked is like any other restaurant...except they only work a few core hours, not staying past 10PM like typical Asian takeout restaurants and having to work in a hot kitchen...so there's some appeal for first generation Asians to do this than to run a restaurant. The franchisor also offers financing, which would be a great opportunity for newcomers to the USA without credit #franchasing #smb

Anthony's Coal Fired Pizza is sold to a Burger King franchisee The 51-unit pizza chain is being sold to Kuljeet Singh, who is also a franchisee of Round Table Pizza. The deal splits the brand from sister chain BurgerFi. By Lisa Jennings Restaurant Business Online Anthony's Coal Fired Pizza & Wings has a new owner. The 51-unit chain was sold out of bankruptcy by parent company BurgerFi International Inc. first to lender TREW Capital Management in a credit bid for $44 million, as previously announced. TREW now has sold the pizza chain to Florida Burger Inc. A principal of the company is Kuljeet Singh, a franchisee of both the Round Table Pizza and Burger King brands, said Jeff Crivello, the former Famous Dave's of America Dave’s CEO who leads TREW Capital and acquired BFI’s debt earlier this year. Crivello did not disclose the sale price, but said it was in the ballpark of the $44 million credit bid. The deal splits Anthony’s from its sister-brand BurgerFi, which TREW also acquired in the bankruptcy auction for a credit bid of $10 million—and which may also soon have a new owner. Crivello said a sale of the fast-casual burger chain is also in the works, and that deal could be announced by the end of the week. The buyer has not yet been disclosed. BurgerFi has 93 units, of which only 17 are company-owned. The now-former parent company BFI filed for Chapter 11 bankruptcy protection on Sept. 11 after four rocky years as a public company. To some, bringing the better-burger concept under the same roof as the full-service pizza chain was an unlikely pairing. BurgerFi was acquired first by a special purpose acquisition company, or SPAC, that took the chain public in 2020 and became BFI. The next year, BFI acquired the then 61-unit Anthony’s for $161 million in stock and assumed debt. At the time, the Fort Lauderdale, Florida-based Anthony’s was entirely company-owned and mostly operated in Florida. Under BFI, Anthony’s launched franchising, but only one franchised location opened. It is also the only dual-branded Anthony’s/BurgerFi location. Under BFI, however, both brands struggled, with a number of executive changes, rapidly declining sales and turnaround efforts that fell flat. During the bankruptcy, 10 underperforming Anthony’s locations were shuttered, along with more than 30 BurgerFi units over the past two years. Carl Bachmann, the former CEO of BFI, left the company on Nov. 15 and has joined the new owner of Anthony’s, according to a filing with the U.S. Securities and Exchange Commission on Monday. His role with Anthony’s was not made clear. Last year, Singh was the owner of DC Burger, which acquired 37 Burger King locations in Virginia for $22 million from Toms King Holdings. At the time, court documents indicated Singh and his wife Jessica Singh also owned 80 Round Table Pizza locations in Northern California, Oregon and Washington...Click-Thru to read more. https://lnkd.in/eeqaJ65y

Day 2 of the FAT Brands Franchise Summit underway, with chairman Andy Wiederhorn addressing the crowd (1,600 people here, which is pretty crazy). Some stats: FAT Brands now the 25th largest restaurant group (adding nine brands to the portfolio in two years will do that). 18 brands. $2B in systemwide sales. $650M in revenue. 2,300 locations, 185 of which are corporate. 800 franchisees, about half of which are single-unit operators. A pipeline of 1,100 stores. Growth cadence of 125 openings per year or so. 267 over the last two. $750M in purchasing power. Twin Peaks working toward going public. Another acquisition likely coming in the next few months. And maybe most importantly for the world, the cookie brands, which recently went into FAT Brands’ burger chains as an offering, are being added to the remaining concepts, from Twin Peaks to Smokey Bones, etc.

Since the franchise launch, Beyond Juicery + Eatery has faced increased development and operating costs across the board. But those challenges turned into opportunities for the franchise to look inward and ask what costs the brand could absorb to help franchisees, CEO Mijo Alanis said. “We have made changes internally that the guests would not see, from how we make things, to better purchasing power and we’ve been able to lower our food costs,” he said. https://lnkd.in/gr2PaPdz

McDonald’s is buying its 225 stores in Israel off franchise partner Alonyal. It has operated in Israel since 1993 and is the market-leading burger chain. Is McDonald's doubling down or preparing to divest? We look at the reasons why it's buying its stores, the broader political context and the risks for brands. Fundamentally, we think McDonald’s is trying to buy more control over its own destiny, which is especially important given political sensitivities. #israel #gaza #fastfood #mcdonalds https://lnkd.in/eHVCy-q9

Little Caesars Rise in Multi-Unit Expansion! 🍕 Little Caesars isn't just making pizzas; we're making history in multi-unit growth! Great article spotlighting our exceptional journey. From pioneering new markets to empowering franchisees, we're setting the standard for success in the QSR industry. Hungry for a slice of the action? Let's chat about the boundless opportunities in your area! #LittleCaesars #QSR #MultiUnitGrowth #FranchiseOpportunities