QSR International, the master franchisee of Smashburger fast-casual branded restaurants in Central America and the Caribbean, has entered into a development agreement with Inversiones Platinum Brands S.A. to develop five Smashburger restaurants in the Central American country of Panama.
Following a highly successful market launch in Costa Rica in November 2012, Panama will mark the second country opening for Smashburger in the Latin American marketplace.
The development schedule calls for five restaurants to be opened during the next six years. Inversiones Platinum Brands S.A. already has started looking for their first Smashburger location, which will be located in the capital city of Panama.
As international franchise operators of five Wing Zone branded restaurants, Inversiones Platinum Brands S.A. has the knowledge to successfully develop and operate the Smashburger brand. In a short time, they have managed to become one of Panama’s fastest-growing competitors in the fast-casual, restaurant segment.
“For Smashburger, we’re focusing on candidates who have a clear understanding of the fast-casual restaurant business,” says Pablo Fernandez, director of development for QSR International. “Our ideal franchise candidate for Smashburger is someone who is already a successful franchisee of another restaurant brand; someone who can leverage their existing operational infrastructure and expertise to grow their restaurant portfolio with a new up-and-coming concept.”
“We are extremely excited to grant development rights to such a proven operator like Inversiones Platinum Brands S.A.,” says Richard Eisenberg, president of QSR International. “This agreement continues to position our brand as the dominate player in the hottest and fastest-growing category in the fast-casual food industry.”