WHERE CAN I WORK, WHERE I CAN MAKE $100,000 - $200,000 PER YEAR, DRIVE A MERCEDES, HAVE A HOME IN NEWTON, AND NEVER WORRY ABOUT GETTING FIRED , BUT I DON’T HAVE A COMPUTER SOFTWARE DEGREE FROM MIT OR A LAW DEGREE FROM HARVARD?
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Straddling the invisible line to satisfy the seller’s needs, while appreciating the position of the buyer -
“Why hasn’t my business sold?” For the most part this question is asked not only of restaurant brokers but also of general business brokers, and as well of other commercial brokers.
The scenario is that an owner seeks out, what he feels is a competent professional to help him exit a business that has provided him with the luxuries of success or the pains of failure. In either case, if we take on the responsibility of accepting the listing, we’re promising the seller, and therefore morally obligated, to do everything in our power to extricate the owner from his business with the best price and most favorable terms.
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It’s amazing how many food and beverage businesses dot the landscape. If it’s true that “small business drives our country”, then restaurants are the life-blood of our society. No matter where you go, look to your left, look to your right…convenience stores, liquor stores, fast food, slow food, pubs, full-service, nightclubs, function facilities, ad naseum. Then you can break them down into chains, into ethnic subsets…every downtown, every shopping center, most office complexes. “my God, they’re everywhere.”
Nations Restaurant News
How Parker John's BBQ & Pizza is growing despite the pandemic
Parker John’s BBQ & Pizza, a five-unit pizza and barbecue chain based in Kiel, Wis., has been family-owned since it started in 2008. It’s been through two economic catastrophes and survived — even thrived — as a small business. In fact, it did so well during the pandemic that it grew locally in its home state, opening its fifth unit in February this year.
Named for the owners’ son, Parker John, the restaurant began as a pizza place serving wings and spaghetti as well. When the worst of the recession’s impact hit the area in 2010, business slowed, despite Parker John’s being the only pizza place in the town of 1,800 people. The business quickly pivoted as the owners — couple Jennifer and Aaron Sloma — used their savings to buy a smoker to transform the business into Parker John’s BBQ & Pizza.
The long-time restaurateurs were happy with the switch. Before that, the Parker John’s in Kiel was making $300,000. Now, it’s making $1.5 million a year. The other four locations are doing around $3.5 million in sales, because they’re all in larger cities (Menasha, Green Bay, Sheboygan, and Oshkosh).
The Slomas have both worked in restaurants since they were teenagers, and also own another single-unit restaurant.
During the pandemic, there were no pivots necessary for Parker John’s, as it already had everything in place for a pandemic-proof business. The Slomas already had their own fleet of vehicles for delivery, and a “robust carryout business from the start,” they told Nation’s Restaurant News.
Much of the business was already carry-out rather than dine-in at Parker John’s despite the restaurant being full-service.
“When we were forced to close our dining rooms, everything kind of just worked out for us because we were well-positioned to begin with,” said Aaron.
The scratch-cooked food at Parker John’s includes rib rub, hand-cut fries, barbecue sauces, beans, and smoked ribs, turkey, pork, brisket, burnt ends, sausage, meatloaf, chicken breasts, and jumbo wings as well as, of course, pizzas.
As for expansion, the couple will think about it after the summer ends.
“We always joke we have to make it through summer, because our summers are absolutely crazy,” said Aaron.
Between the catering for 125 weddings a season and the fact that the restaurant in Sheboygan is right on a river, Parker John’s is slammed every summer with tourists and locals alike.
“I think our target would be probably to open another location probably early 2023,” he said.
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Smoothie King announces growth fueled by nearly 17% increase in AUV and more than $602 million in systemwide sales in 2021
World's largest smoothie brand boasts AUV of more than $609,000 with top 25% exceeding $907,000
April 26 2022
Smoothie King, the world's largest smoothie chain and the first health and fitness QSR brand of its kind, announced today a record average unit volume (AUV) of $609,753, with the brand's top 25% of stores reporting an AUV of over $907,000. Following the brand's recent news of signing 51 new store commitments in key growth markets in Q1 2022, Smoothie King also reported today over $602 million in systemwide sales in 2021, a 25% increase over 2020.
"Over the last few years, Smoothie King's momentum has been building as the brand continues to focus on offering fresh, whole-fruit smoothies and being the go-to product for consumers' health and fitness routines," said Wan Kim, CEO and Chairman of the Board. "It's a combination of our mission to inspire people to live a healthy lifestyle and our commitment to minimizing costs for our operators that has resulted in such an impressive AUV, reaching close to a 17% increase since 2020. With these impressive numbers and a strong development pipeline for the year, we're confident Smoothie King will have yet another successful year."
In 2021, Smoothie King opened over 100 stores, growing to more than 1,300 locations worldwide. The fast-growing brand has aggressive growth plans for this year and is currently seeking experienced operators interested in growing their portfolio with a brand that is committed to providing products that are healthy, purpose-driven, and taste amazing. Smoothie King is targeting growth in markets such as Phoenix, Denver, Washington, D.C., Baltimore, Boston, Milwaukee, and Puerto Rico, among others.
Single- and multi-unit development opportunities are available, as well as incentives for active-duty U.S. military or veterans and for first responders, including law enforcement, firefighters, and emergency medical technicians. Smoothie King also recently launched an incentive program for existing franchisees and a new program for qualified store team members who are looking for the opportunity to achieve their entrepreneurial dreams with Smoothie King.
Smoothie King repeatedly has been recognized as a top franchise opportunity. Smoothie King was named the "Top Brand to Buy" in the beverage category of Franchise Times' 2022 Zor Awards and named to its "Top 400 Franchises" list. Additionally, Smoothie King received the Top Franchises Satisfaction Award for 2022 from Franchise Business Review based on the brand's high franchisee satisfaction. Smoothie King was recently listed as the 76th largest chain restaurant and 63rd limited-service chain in the Technomic and Restaurant Business 2022 Top 500 Chain Restaurant Report. Moving up 20 spots from its 2020 96th ranking, the brand continues to climb the Top 500 ranks. For information how you can start your very own franchise location
call The National Restaurant Exchange today!
April 21 2022
Leading fast-casual restaurant concept Freddy's Frozen Custard & Steakburgers announced today its significant Q1 franchise development success, signing six new multi-unit agreements that will bring a total of 64 new Freddy's locations to new and existing markets, including North Carolina, South Carolina, Texas, Louisiana, Illinois and California. Most notably, existing Freddy's franchisees of more than a decade, M&M Custard, inked an agreement to expand the brand's growing footprint in Chicago with a commitment to develop 13 locations across Lake and McHenry counties. Additionally, Freddy's opened 11 new locations nationwide in Q1 and is on track to open over 50 locations throughout 2022.
"As we celebrate the one-year anniversary of our acquisition by Thompson Street Capital Partners, we're happy to report the Q1 franchise development success we experienced – particularly following such a strong year in 2021. While we've remained true to Freddy's core pillars, under new ownership, we've worked to streamline operations for our entire system, allowing for a higher AUV and enhancements to our business model as a whole," says Andrew Thengvall, Chief Development Officer at Freddy's. "The support of our franchisees has been remarkable through the transition, and we're extremely proud of their desire to continue to invest in Freddy's. The Upper Midwest has been a priority market for us over the past couple of years, and we're thrilled that M&M Custard will further develop our footprint in Chicago."
M&M Custard opened its first Freddy's location in Jefferson City, Missouri, in May 2012, and today the franchise group owns and operates 35 locations across six states. The veteran franchise group has consistently fueled Freddy's franchise development, spearheading the fast-casual restaurant concept's growth in new markets for over a decade. With plans for continued growth throughout the Midwest, M&M Custard identified the Chicagoland area as a thriving market to further grow the Freddy's brand.
"Since making our first investment in Freddy's over 10 years ago, we've fully believed in the concept's growth potential, and we are proud to bring the genuine hospitality and craveable menu items to new markets," said Eric Cole of M&M Custards. "With each new opening, our passion for Freddy's only strengthens alongside the impressive leadership and proven business model that continues to equip us with the tools needed to scale our flourishing business. The Chicagoland area currently has six existing locations, and the strong demand for a greater presence easily drew us to further grow Freddy's footprint there. We're looking forward to spearheading this growth in the Midwest."
In addition to the Chicago deal, the groups that signed new multi-unit agreements in Q1 and their growth plans include:
In an agreement at the close of Q1, Lone Star Custard acquired 21 existing Freddy's units in Texas and has committed to opening an additional 30 Freddy's locations throughout the state of Texas, specifically in Dallas.
AOM, LLC will be adding Freddy's to its existing franchisee portfolio.
BSPub Holdings, LLC joins Freddy's as a new franchise group with the commitment of developing five new Freddy's locations across the state of Texas in counties including Ector, Midland, Burnet, Gillespie and Kerr.
Custard & Steakburger Holdings will also add Freddy's to its extensive existing franchisee portfolio, consisting of eight units with Popeyes, Haagen Daz, and Tropical Smoothie Cafe. They will be developing four new Freddy's locations in Horry County, South Carolina.
Outlaw Management has agreed to develop three new Freddy's in the counties of Aransas, Calhoun and Victoria, Texas.
Additionally, earlier this month, Freddy's also announced the opening of its first airport location in the Will Rogers World Airport in Oklahoma City. Freddy's exceptional commitment to its franchisees and Team Members and its one-of-a-kind Freddy's Guest experience are all factors that help support the brand's greater development goal to double its footprint within the next four years, bringing the total unit count to 800 by 2026. For information how you can start your very own franchise location call The National Restaurant Exchange today!
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National Restaurant Exchange is a recognized leader in the sale of food and liquor businesses. If you think its expensive to hire a professional, wait till you hire an amateur. Why would you go to anyone else to represent your interests? With many major life-style shopping centers in various stages of development, we can provide you with prime restaurant space, in prime markets, with all the assistance to bring your newest project to fruition.