Twin Peaks Restaurants today announced the company has signed multiple development deals that will result in 19 new restaurants, including its first locations in Indiana. The development agreements also expand the company’s presence in Arizona, Louisiana and Texas.
In addition, Twin Peaks’ annualized average restaurant volumes are at a record high – $4.3 million*, an increase of more than $1 million over 2011. Currently the company has 20 restaurants open with plans to add 10 locations this year.
“This is an exciting time to be part of Twin Peaks,” said CEO Randy DeWitt. “These new development agreements set the table for outstanding future growth. Over the last few years we’ve refined our site selection process, enhanced our training programs, and, as a result, new restaurant sales volumes are tracking much higher than before. Our business model is getting better over time allowing us to target even higher quality real estate that seems to be out of reach by our competition. All of this good news is helping us attract the best management teams and franchise partners as well.”
The multi-unit development agreements include partnerships with new franchisees SBC Restaurants, LLC and AZ Peaks Restaurant Group, and extended agreements with current franchisees Avalanche Food Group and C & L Enterprises.
“Twin Peaks is attracting highly successful restaurateurs and multi-unit developers who recognize the growth opportunities and potential of our brand,” DeWitt added. “Plus, our existing franchisees are quickly signing up for additional territory shortly after opening their initial locations. Both groups understand what a tremendous investment opportunity we offer with Twin Peaks.”
The recent signings include:
- SBC Restaurants, LLC, signed an agreement to open five stores in the New Orleans area. The group includes Gary Solomon, an investment partner with more than 25 years experience who operates a venture capital group; Kyle Brechtel, managing partner with more than nine years experience with Brechtel Ventures, which operates McAlister’s Deli and Merchant Café in New Orleans; and Kyle Crochet, operating partner with more than 18 years restaurant experience including six years with Brinker International, where he managed eight restaurants with $25 million in sales, and three years with McAlister’s where he oversaw nine stores.
- AZ Peaks Restaurant Group will open four stores in Arizona. The group is composed of restaurant veteran Lee Cohn, co-developer of Ed Debevic’s with Rich Melman of Lettuce Entertain You Enterprises. Cohen has more than 38 years experience as a multi-unit operator and is a board member of Oregano’s Pizza Bistro, Mastro’s Restaurants and Quaker Steak and Lube; Shopping center developer Jay Schneider of Frontera Development who has developed more than 20 million square feet of retail transactions, will be responsible for site selection, lease negotiation and real estate plans; operating partner Andrew Bayless, who also oversees operations for six Buffalo Wild Wings units; and operating partner Carolyn Vangelos, former general manger of California Pizza Kitchen and co-operating partner with Bayless for Buffalo Wild Wings, she will be responsible for operations, training and recruitment.
- Avalanche Food Group, current Twin Peaks Houston franchise owners and brothers Joe, Ricky and John Rosa and close family friend, Andrew Thomas, have extended their current Houston agreement for eight new locations. Recipients of Twin Peaks’ 2011 Franchise of the Year Award, the group has signed for five new stores in South Texas and three new restaurants in Indiana.
- C & L Enterprises, Baton Rouge franchisees and local real estate developers Jim Clark and Cotton Lloyd extended their agreement for an additional Twin Peaks location in Baton Rouge and expanded their territory to include Lafayette, La.
For more information on Twin Peaks, including locations and franchise information visit www.TwinPeaksRestaurant.com.
Founded in 2005 in the Dallas suburb of Lewisville by successful restaurant veterans Randy DeWitt and Scott Gordon to meet the needs of an untapped market, Twin Peaks features quality food and ice cold draft beer served by friendly and attractive Twin Peaks Girls in a mountain sports lodge setting. Named a “2010 Hot Concept!” by Nation’s Restaurant News and among 2011’s “Future 50” concepts by Restaurant Business magazine the national chain has 20 locations throughout Arizona, Louisiana, Colorado, Kansas, Nebraska, New Mexico, Oklahoma and Texas.
*Annual estimates based on trailing 12 week un-audited sales for all Twin Peaks Restaurants ending 3/25/12.