25/Panda Express
Year founded: 1983
units: 1,080
Signature product(s): Orange Chicken and Beijing Beef
Since its start, Panda Express’ mission remains the same: Deliver an exceptional Asian dining experience by building an organization where people are inspired to better their lives. The guest is the foundation, according to Kim Ellis, executive vice president of restaurant development.
Panda plans to open 160 stores this year, which will set the pattern for the next few years. A new prototype will stimulate the guest’s five senses. “From new music to a redesigned dining room to new material selection, we believe that the guest dining experience will be transformed,” Ellis says. Patio seating and emphasis on drive-thrus are part of the plan.
As for the menu, crisp, tangy Beijing Beef, the latest addition, could bump Orange Chicken off the top-selling list. Other new entrées are scheduled to debut in 2009.
25/Rubio’s Fresh Mexican Grill
Year founded: 1983
units: 183
Signature product(s): Fish tacos
Bringing the flavors of Baja to the world has always been the mission of Rubio’s, an innovator in the fast-casual Mexican grill segment. Judging by the numbers, it’s succeeding. More than 70 million fish tacos have been sold since Ralph Rubio and his father opened their first restaurant in the early ’80s. Back then, fish tacos elicited more curiosity than cravings. Now the dish is a staple on many fast-casual and casual-dining menus.
Copycat concepts have made Ralph Rubio shy about discussing strategy, but it’s safe to assume that if he has his way, Rubio’s will be serving its signature tacos in your neighborhood soon.
20/Auntie Anne’s
Founding date: 1988
units: 950 worldwide
Signature product(s): The Original and Old-Fashioned Lemonade
From its start as a simple salted pretzel shop, Auntie Anne’s has grown into a contemporary quick-service chain, complete with its own line of frozen beverages. Called Dutch Treats in homage to the concept’s Pennsylvania Dutch roots, the five-year-old line’s offerings—the Dutch Ice, the Dutch Shake, the Dutch Latte, and the Dutch Smoothie—place Auntie Anne’s firmly on trend, as do the chain’s bite-size snacks such as Party Pretzels and on-the-go offerings like Pretzel Stixs.
Auntie Anne’s is on trend with its expansion plans, too. Like many of its peers, Auntie Anne’s is turning to international growth. Of the 115 stores set to open this year—a company record—50 will open outside the U.S. A Beijing restaurant opened prior to the 2008 Summer Olympics.
20/Cold Stone Creamery
Year founded: 1988
units: 1,400 worldwide
Signature product(s): Chocolate Devotion, OREO Overload, and Birthday Cake Remix
When executives at Cold Stone Creamery talk about growth plans these days, they are not talking about unit counts, though the chain intends to open 50 to 100 U.S. locations and about 120 international stores in 12 countries this year. Instead, what’s being discussed at Kahala Corp., which purchased the brand in 2007, is how to grow sales. And in light of recent press reports connecting brand saturation with unhappy franchisees, that can only be a good thing.
Cold Stone already operates under some of the highest AUVs in its category, but in the upcoming months look for the chain to aggressively focus on sales growth. Kahala’s strategy to that end includes slowing new unit openings, lowering build-out cost, and raising AUVs by almost 40 percent.