- Front Page
- Biz Tools
DENVER — Better burger concept Smashburger announces that it has opened the doors of its 100th store with the grand opening of a Schaumburg, Illinois franchise on April 27.
The brand serves upscale five-dollar burgers and Haagen-Dazs shakes.
The burger franchisor announced it is "the nation's fastest growing fast casual 'better burger' restaurant concept." That is supported by RestaurantChains.net, a researcher that keeps track of the fastest growing restaurant chains. From October 21 through January 17, 2011, Smashburger grew by a smashing 17 stores, placing the then 93-store chain as the fastest growing fast-casual concept in franchised and company-owned chains that range between 50 and 200 units.
The franchisor, part of private equity firm Consumer Capital Partners, founded by the chairman of Quiznos, Rick Schaden, started selling franchises three years ago. Quiznos saw explosive growth in the selling and opening of franchised stores in its early years, but has lately seen significant contraction in the number of stores in its chain.
"We've accomplished a lot in three years and can attribute our growth and success to our loyal customers, our talented team and franchise partners, and the dedication of our shareholders and advisors," says Smashburger CEO & chairman Dave Prokupek. "The strong commitment to our brand by these groups in the midst of a recession has allowed us to achieve rapid success in a short period of time."
Smashburger plans to open 85 new stores in 2011, ending the year at approximately 175 units. Already located in over 20 states and 29 markets, franchisees of the brand have committed themselves to build an additional 400 units. The franchisor newbie has plans to sell locations just about anywhere there are buyers, including overseas.