Restaurant Chain Growth Report 11/13/12



Growing Concepts
Concepts that have grown by at least 5% (if less than 50 units).

Golden, CO-based GOOD TIMES BURGERS & FROZEN CUSTARD (NASDAQ: GTIM; founded 1987) has increased by 1 unit, from 41 to 42 (2% growth).  These take-out burger restaurants are open for lunch and dinner, with a $2-$6 per person price range.  Drive-thru service is available.  Between 20% and 30% of units are franchised.  Trading areas are CO, ND, and WY.

Westmont, IL-based THE GREAT AMERICAN BAGEL (founded 1987) has increased by 6 units, from 63 to 69 (10% growth) and entered into AB, ID, OK, ON, and OR.  These quick serve bakery cafes are open for breakfast, lunch and dinner, with a $2-$6 per person price range.  Units seat about 30 and offer catering and drive-thru service.  Locations are franchised and trade in AR, FL, IL, IN, KS, MD, ME, MI, MO, MT, NC, NJ, NV, NY, OH, OK, ON, OR, TX, UT, VA, and WA.

Atlanta, GA-based GREAT WRAPS (founded 1989) has increased by 8 units for the Great Wraps concept, from 68 to 76 (12% concept growth) and entered into MO and UT.  The company also operates the 2-unit Gorin’s Ice Cream & Sandwiches concept.  Overall company increase was from 71 to 78 (10% company growth) due to a one unit closure for Gorin’s.  These fast casual sandwich shops are open for lunch and dinner, with a $3-$8 per person price range.  Units seat about 20 and offer catering and online ordering services.  Locations are franchised and trade in AL, AR, CT, DC, FL, GA, MO, NC, NE, NJ, NV, NY, PA, TN, TX, UT, VA, and WI.

Emerging and Re-emerging Concepts
Concepts with 20 units or less who grew by at least 2 units.

Boston, MA-based PETIT ROBERT BISTRO has increased by 2 units, from 3 to 5 (67% growth).  This upscale French concept is open for lunch and dinner, with a $15-$30+ per person check average.  The restaurants have full bar service and seating for about 80.  Banquet services are available.  All locations are in MA.

Auburn, AL-based CHICKEN SALAD CHICK (founded 2008) has increased by 2 units, from 6 to 8 (33% growth) and entered into FL.  These fast casual salad/sandwich shops are open for lunch and dinner, with a $4-$10 per person price range.  Units seat about 50 and offer catering and drive-thru services.  Trading areas are AL, FL, and GA.

JOHNNY GARLIC’S CALIFORNIA PASTA GRILL based in Santa Rosa, CA (founded 1996) has increased by 6 units, from 5 to 11 (120% growth) opening new concepts called Guy’s Burger Joint (3) and Guy’s American Kitchen and Bar (1).  Other company concepts are Johnny Garlic’s (5) and Tex Wasabi (2).  Locations tend to be family/casual with full bar and seating for around 150.  Meal periods are lunch and dinner.  Per person check average is around $10-$30 with catering and banquets offered.  The Guy’s Burger Joint concept is a shipboard concept offered on Carnival cruise ships.  Locations are in CA and NY.

Repeat Growers
Concepts previously written about in the past 18 months.

New York, NY-based SOPHIE’S CUBAN CUISINE (founded 1997) has increased by 1 unit, from 7 to 8 (14% growth).  These fast casual restaurants are open for breakfast, lunch and dinner hours, with an $8-$12 per person check average.  Units seat about 50 and offer catering, delivery, and online ordering services.  All locations are in NY, with 2 DC locations scheduled to open next year.  We last featured this concept on 5/24/11 (17% growth).

Las Vegas, NV-based CAPRIOTTI’S SANDWICH SHOP (founded 1976) has increased by 10 units, from 75 to 85 (13% growth) and entered into MA and NC.  These fast casual sandwich shops are open for lunch and dinner, with a $6-$12 per person check average.  Units seat about 30 and offer catering and online ordering services.  Units are franchised and trade in AZ, CA, DE, FL, IA, MA, MD, NC, NV, PA, TX, UT, and WI.  We wrote about this concept on 7/19/11 (5% growth) and on 1/24/12 (10% growth).

CICI’S PIZZA based in Coppell, TX (founded 1985) has increased by 19 units, from 506 to 525 (4% growth).  These are buffet pizza restaurants with seating for around 150.  Meal periods are lunch and dinner.  Beer and wine are served.  Per person check average is around $6-$12.  Catering is offered.  Locations are more than 90% franchised and are in AL, AR, AZ, CA, CO, DE, FL, GA, IA, IL, IN, KS, KY, LA, MD, MI, MN, MO, MS, NC, NE, NJ, NM, NV, NY, OH, OK, PA, SC, SD, TN, TX, VA, WI and WV.  We last reported on this concept on 1/24/12 when they had 14% growth.

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