Bruce Isaac, SIOR, CCIM’s Post

"The fast-casual burger chain said it now sees the potential for its company-operated footprint to reach “at least” 1,500 locations over time, versus its prior target of 450 domestic sites. Shake Shack expects to open about 80 to 85 new restaurants this year, including 45 company-operated locations. Licensed openings are expected to range from 40 to 45 openings."

Building on its international expansion, Firehouse Subs plans to open more than 500 restaurants in 10 years across Brazil. https://ow.ly/ymrO50UEiJF #restaurant #stores #SouthAmerica

Momentum is slowing for restaurant growth... New restaurant openings increased 6% during the period May 2023 to April 2024. According to a Yelp report, this is a slight deceleration in growth from the previous year, which reported 10% in new openings during May 2022 to April 2023. Have you noticed this trend locally? What do you think it means for the industry?

Denny’s to close 150 restaurants as restaurant chains continue to struggle The ubiquitous and popular diner chain Denny’s will close 150 locations by the end of next year amid declining revenue and changing consumer habits, the company announced Tuesday. Known for 24/7 service and a wide selection of menu items, the company behind the 71-year-old restaurant reported lower-than-expected earnings for the third quarter and has seen shares fall nearly 50% this year. About 50 locations are marked for closure in 2024, with about 100 more to be shut down in 2025, according to information the company released with its earnings report. The closures represent a 10% reduction in the number of locations the company operates. https://lnkd.in/gj7xREJm

Significant activity is shaping the evolving restaurant landscape across the Twin Cities

Gordon Ramsay saw losses at his U.K.-based, international restaurant business more than triple to £3.4 million ($4.3 million) in the year to August 2023, according to Companies House filings. The chef said businesses were “battling to stay afloat” amid sustained inflationary pressures that have hit already razor-thin margins in the hospitality sector. Ramsay’s restaurants, which include the chains Street Pizza and Street Burger as well as his three-Michelin Star flagship restaurant, increased revenues by 21% to £95.6 million ($119.8 million) in 2023, while gross profits increased to £47.4 million ($59.4 million). However, a wave of new restaurant openings and refurbishments last year hit the company’s bottom line. Read more: https://lnkd.in/eNqk4Jbf

Following new Bethlehem eatery, fast-casual restaurant chain continuing regional expansion

Firehouse Subs is announcing its entry to Brazil, building on its international expansion. The brand plans to open more than 500 restaurants in 10 years across the country. The first restaurant is expected to launch in 2025 and will mark Firehouse Subs' debut in South America. Read more: https://brnw.ch/21wQ9nx

"Best Practices When Seeking New Restaurant Locations," sponsored by Leasecake is now available! Navigating the complexities of the restaurant industry can be daunting, from managing rising food costs to dealing with tight labor markets. And when it comes to expanding, finding the right location is crucial. A poorly performing new location can impact the profitability of your entire chain. Download now: https://lnkd.in/d4SqNYwm