Industry News | July 31, 2013
Captain D’s Rides High, Inks Multiunit Deal
Captain D’s continued its record setting performance in the second quarter of 2013. Posting yet another quarter of positive same store sales increases, the 520-unit fast casual seafood chain has now marked 23 consecutive months of compounding sales growth.
As a result of the brand’s consistent sales success, Captain D’s is experiencing a heightened interest from multi-unit/multi-brand owners looking to diversify their existing restaurant portfolio. Moreover, the sales growth has sparked renewed interest in development from its existing franchise base.
“Captain D’s unit-level economics are very strong and provide our franchisees with best-in-class QSR (quick service restaurant) returns,” says CEO Phil Greifeld. “Our current franchisees have shown strong dedication and interest in the growth of our brand.”
Jim McClure opened his first Captain D’s location in Dahlonega, Georgia, nine years ago. Since, Jim and his wife, Val, have built their operations to boast four Captain D’s locations under the name VJM Seafood. Recently, the pair signed a multi-unit deal with Captain D’s to open an additional three locations in northern Georgia over the course of the next 36 months. The couple is gearing up to break ground on their newest location in Oakwood, Georgia, in August of 2013.
“We are very excited about the direction that Captain D’s is taking. Sales have been great with a large increase in traffic and resulting profit margin,” McClure says. “I have been a franchisee for about nine years. Right now, the leadership we have at the corporate office is the best that I’ve seen. It’s an easy decision to go in and sign the agreement to open more locations.”
This signing with Jim McClure comes on the heels of another multi-unit signing from Townsend Foods. Townsend Foods, owned by 11 year franchise veteran Bill Townsend, signed four additional locations in the Alabama and Tennessee area. McClure and Townsend both serve on the brand’s president’s advisory council.
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