Current Franchisees Extend Romance with the Iconic Brand name Demonstrating Enthusiasm for the Company’s Direction
CHICAGO, Dec. 05, 2022 (Globe NEWSWIRE) — Potbelly Corporation (NASDAQ: PBPB) (“Potbelly” or the “Company”) introduced these days it is properly continuing to construct upon its Franchise Development Acceleration Initiative as a result of the execution of growth agreements with many current franchisees. The agreements lengthen progress rights with Brent Brouse (Greenville and Wilmington, North Carolina and Myrtle Seaside, South Carolina), Paul Goldammer (Sioux Falls, South Dakota), Fabian Nelson (Memphis, Tennessee) and Mohit Kishore and Tulshi Bakar (Wake, Durham, Orange and Chatham counties, North Carolina) each of which are solid operators in the Company’s procedure. Below the agreements, Potbelly’s collective footprint in these marketplaces will be expanded with 25 new shops above the following 6 years.
Today’s announcement will come on the heels of the Company’s lately signed advancement offers for a overall of 25 further stores in Florida and Illinois more than the upcoming 8 yrs, ensuing in a cumulative overall of 50 new shops to date.
“It’s been a important final pair of months for us at Potbelly – with our double-digit same-retailer income progress and excellent revenue to financial investment ratio, we’re signing deals for new markets as effectively as reaffirming our powerful relationships with current franchisees,” mentioned Bob Wright, President and Chief Govt Officer of Potbelly. “Our product and technique are working, and we are happy to continue on our expansion tale with robust operators in our Potbelly household.”
The Company’s strengthened general performance by its document typical device volumes and the assist of its seasoned management staff, with over 100 yrs of mixed professional, is driving its skill to appeal to franchisees. It was not too long ago announced that Wright’s contract will be prolonged by way of 2025, providing continuity to the reliable team and tactic guiding the brand’s growth. Wright will go on to guide the charge to reach ‘Traffic Driven Profitability’ via the brand’s five strategic pillars that include 1) Craveable, High-quality Foodstuff at a Excellent Worth 2) People Building Excellent Vibes 3) Buyer Activities that Travel Targeted visitors Advancement 4) Digitally-Driven Consciousness, Relationship and Visitors 5) Franchise-Centered Growth.
As element of the Franchise Progress Acceleration Initiative, Potbelly plans to get to 2,000 retailers with at minimum 85% of these becoming franchised outlets over the next 10 many years. The Enterprise also programs to refranchise roughly 25% of its firm owned stores by 2024.
Ideal franchise candidates need to be in a position to fulfill the expected financial criteria, have cafe functions expertise, powerful entrepreneurial skillsets, targeted and pushed difficulty fixing and delight in doing the job with other folks. Operators can profit from the sandwich concept’s versatile store patterns, like inline, endcap, drive-thru and non-classic spots, which are equipped with tech-enabled enhancements to foster in-store, consider-out and supply eating. These things, together with a numerous menu and numerous revenue streams stemming from several dayparts, all make Potbelly an appealing franchise restaurant expense.
For extra information on Potbelly franchise options, pay a visit to https://www.potbelly.com/franchising-why-potbelly.
Potbelly Company is a community sandwich notion that has been feeding customers’ smiles with heat, toasty sandwiches, signature salads, hand-dipped shakes and other contemporary menu things, tailored just the way prospects want them, for much more than 40 a long time. Potbelly claims Clean, Rapid & Welcoming support in an environment that displays the regional neighborhood. Because opening its initial shop in Chicago in 1977, Potbelly has expanded to neighborhoods across the country, with 400 business-owned shops in the United States. Also, Potbelly franchisees work around 40 shops in the United States. For additional info, please stop by our web-site at www.potbelly.com.
Ahead-On the lookout Statements
This press launch may perhaps comprise statements that may well be considered forward-wanting statements or predictions of potential functions which includes with regard to the Company’s skill to efficiently execute its Franchise Expansion Acceleration Initiative and advancement deals and its capacity to productively refranchise selected of its spots. These statements are created pursuant to the secure harbor provisions of the Personal Securities Litigation Reform Act of 1995 and are based mostly on management’s belief or interpretation of facts at this time offered. These statements and assumptions contain specific hazards and uncertainties such as that it is not able to properly execute its Franchise Growth Acceleration Initiative and that the Business is not equipped to realize its planned expansion. Real situations may well also differ from these expectations as a end result of the risks recognized from time to time in our filings with the Securities and Trade Commission. We think no duty to update these statements as of any long term date.
Investor Get hold of:
Lisa Fortuna or Ashley Gruenberg
Alpha IR Group
Media Get in touch with:
All Points Community Relations