Additional 21 signature neighborhood bakery cafes to open as part of multi-unit franchise agreement
Corner Bakery Cafe recently announced plans to open as many as 21 new restaurants in the Boston area as part of a new multi-unit restaurant franchise agreement with Parikh Network.
The group of veteran hospitality operators, which also owns and operates 73 Popeyes Louisiana Kitchens, plans to open its first restaurant next year. These will be the first Corner Bakery Cafes in Massachusetts.
“While there is so much to love about Corner Bakery Cafe – from the quality of the food to the warmth of the experience – what truly resonates with us is the community feel of the brand,” said Ashish Parikh, CEO of Parikh Network. “Additionally, Corner Bakery Cafe stands out amongst the other players in the bakery cafe category with its operational excellence, best-in-class catering and excellent unit-level economics.”
Currently, the fast-casual brand has franchise agreements for a total of almost 300 cafes, as the company moves forward on its goal to more than double its U.S. footprint in the next three to four years. Much of the rapid growth can be attributed to Corner Bakery Cafe’s emphasis on multi-unit national expansion and commitment to partnering with respected franchise leaders and operators in the restaurant industry who bring value and expertise to the brand.
“We’re excited to bring our first cafes to the Boston area,” said Gregg Koffler, Vice President of Franchise Sales for Corner Bakery Cafe. “Boston is the perfect place for each new restaurant to quickly become a favorite gathering place for local families and friends. As a leading brand in the fastest growing segment of the restaurant industry, there is no question that Corner Bakery Cafe has an advantage with *$2.3 million AAVs and outstanding unit level economics.”
Corner Bakery Cafe’s made-to-order menu features hot breakfast scramblers, signature paninis and sandwiches, homemade soups, hand-tossed salads, pastas and indulgent sweets while providing a place to gather with family and friends. With more than 150 company-owned and franchised locations in 14 states and Washington, D.C., Corner Bakery Cafe provides a robust, best-in-class catering platform, presenting fresh food perfectly packaged for delivery or pick up.
More information on Corner Bakery Cafe franchise business opportunities is available at www.CornerBakeryCafe.com/Franchise.aspx.
Corner Bakery Cafe is a fast-casual restaurant serving breakfast, lunch and dinner to guests in 14 states and Washington, D.C. Established in 1991, Corner Bakery Cafe restaurants are owned and operated by CBC Restaurant Corp. with more than 150 company-owned and franchised locations around the country. Founded on a philosophy of creating a place for people to relax and gather with family and friends, Corner Bakery Cafe offers a casual atmosphere featuring innovative, seasonal menu options ranging from hot breakfasts and signature paninis to handcrafted salads, sandwiches and mouthwatering sweets. Offering dine-in, to-go and catering service for any occasion, Corner Bakery Cafe delivers a premier bakery cafe experience in the heart of neighborhoods everywhere. Corner Bakery Cafe was acquired in 2011 by Roark Capital Group, an Atlanta-based private equity firm that specializes in business and consumer service companies with attractive growth prospects and revenues ranging from $20 million to $1.0 billion. More information on Corner Bakery Cafe franchise opportunities is available at www.CornerBakeryCafe.com/Franchise.aspx.
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*$2.3M AAV represents the average for the 83 company-owned cafes that have been in operation for at least 18 months, as disclosed in Item 19 of the 2013 Franchise Disclosure Document (FDD). Individual financial performance will vary. A copy of the FDD is available by contacting Franchising@CornerBakeryCafe.com.