Boise-based serial entrepreneurs Mark Urness and Matt Jeffries recently acquired the Gyro Shack. The duo has built several businesses together over the past decade, including MyBullfrog.com which merged with Go Wireless in 2015, a retail store and service center with 700-plus units. Their most recent business journey comes after successfully running multiple Gyro Shack franchise locations as one of the brand’s first multi-unit franchisees with four locations. Now as owners of the franchise, they have positioned the brand for large-scale growth
“When Mark and I evaluate businesses to invest in, we look for a concept with a solid foundation and strong bones, and for restaurants, of course we have to love the food too,” says Jeffries, who has restaurant operations experience dating back more than 20 years. “We are excited about our recent investment and can’t wait to help bring Gyro Shack to new areas alongside like-minded franchisees that believe in our service culture.”
The enhanced approach includes emphasizing the importance of a service culture, implementing new training methods pushing staff and managers to the next level, revamping the loyalty program and creating an educational experience in stores for customers and staff.
With nine locations open, the Gyro Shack has earned a true fan following, redefining the standards of high-quality, Chicago-style Greek gyros, served fast and made-to-order. The brand has set its sights on targeted franchise growth, honing in on the western half of the United States, with plans to open a corporate location in Phoenix this year and to add five franchise locations in 2021.
“It’s a phenomenal opportunity to work with leaders like Matt and Mark, who share our ambitious, exciting vision of growth for Gyro Shack,” says Seth Brink, who has been with the company since 2015 as head of operations and is now president of the brand. “With an outstanding leadership team, a sound strategy and effective franchise sales process, I’m positive talented franchise candidates will recognize the virtues of the opportunity we have to offer.”
The attractiveness of the franchise model is only enhanced with its flexible design and small footprint. The drive-thru and delivery option make up 76 percent of store revenues, keeping overhead low with just a small portion of the restaurant reserved for dine-in. Locations can range from less than 500 square feet up to 1,800 square feet. The brand’s franchise expansion plans are focused on growth through single-unit and multi-unit deals in priority markets including Arizona, Utah, Idaho, Nevada, Montana, New Mexico, Colorado and Wyoming.
Menu favorites lovingly crafted by its founder, the Zaharioudakis family of Boise, have positioned Gyro Shack to corner the market on expedient and uncommonly inventive gyro options that redefine quick-service Mediterranean cuisine.
As the brand continues to expand into key markets, Gyro Shack is actively seeking qualified single-unit and multi-unit owners looking to invest with a brand in the quick-serve Mediterranean cuisine segment that keeps operations simple. Ideal franchisees should have three to five years of restaurant experience and must be lovers of Greek food. Single-unit franchisees must have a minimum net worth of $500,000 and meet the minimum liquid assets requirement of $200,000 and multi-unit franchisees must have a minimum net worth of $1,000,000 and meet the minimum liquid assets requirement of $300,000.
