Dunkin’ Executive Becomes CEO of B. Good Burger Chain

B. Good, a small chain of nearly 70 burger restaurants in four countries, announced the appointment of Chris Fuqua as its new chief executive officer, replacing the brand’s co-founder Anthony Ackil.

The incoming CEO is a member of B. Good’s board of directors.

The firm says that the outgoing CEO has decided to step down after 15 years with the firm in order to focus on his next entrepreneurial venture and to spend more time with his family. Ackil will remain a member of the firm’s board of directors and a major share owner of B. Good.

“Chris is the right person to bring our company to its next level and was my very first choice to succeed me as CEO,” said Ackil.

The new CEO worked at Dunkin’ Brands for over eight years in a variety of roles, including marketing, operations and supply chain management.

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Comment: Note to potential B.Good franchise buyers: insufficient info so move on

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Don Sniegowski


Note for franchise buyers on B.Good: insufficient info to invest

Here's a quick look at B. Good, a chain of burger stores that runs from Virginia up to Maine. I try to make it a point to look at online franchise disclosure documents about companies that I report on, even if it is a report on another matter, such as succession planning. FDDs can give me an idea on the health of the franchisor.

Information about this company for franchise buyers is not easily forthcoming. Be cautious. This journal has not been able to find current disclosed franchise-level profits or even average gross sales for its franchises online. Such unit-level financial information is basic to investing. If an investor in a new unit does not know what an average franchise makes, how can he or she determine what a reasonable return on investment will likely be? It should be pointed out that the chain sells franchises up and down the eastern seaboard and none of those states provide online franchise disclosure documents. In fairness an investor should be able to obtain a disclosure document if they tell the company they are interested in buying one of their franchises. But the difficulty of finding such information makes this reporter wary. To its credit, B.Good disclosed "annualized sales" in its 2012 FDD that can be seen online in its Minnesota filing. But then it stopped registration in Minnesota and California. It was also a long time ago.

Another word of caution: B. Good is also a small and still early developing concept that is riskier for franchise investors than those of large established chains. It is managing to grow the number of its branded outlets, albeit I cannot easily find what its mix of company-owned to franchised units is. B. Good had 9 company-owned outlets as of 2012, its last year of filing a disclosure document in California. In 2013, franchise researcher WorldFranchising.com states that B. Good had its first two franchises, bringing its total outlets to 11.

This reporter quickly found that besides no longer providing franchise disclosures in California, B. Good's registration to sell franchises has lapsed in Minnesota. That means B. Good cannot offer franchises in those states. Yet its website markets franchise outlets and asks potential franchise buyers to fill out their information, no matter where their territorial focus is. 

Researcher WorldFranchising.com adds on its website that B. Good has not bothered to fully complete its franchising information profile with them directly or from states that they research -- both online and off. In its latest press release, B. Good says that as of June 2018, it has almost 70 outlets.

So what does all of this mean from a quick initial glance of the brand? There are other restaurant chains where one can find such information easily, almost immediately online. There are just so many other companies with readily available information to pursue. My suggestion for franchise investors -- move on. Life is short and restaurant opportunities are plentiful.