Blaze Fast-Fire’d Pizza announced highlights and financial results for its fiscal year ending December 31, 2017 along with its outlook for 2018. The build-your-own pizza chain also announced that it now has 252 restaurants open with franchise agreements in place to develop more than 400 additional locations across the U.S., Canada, the Middle East and Northern Africa. The company continues to maintain its target of 1,000 restaurants and $1 billion in annual system-wide sales within four to seven years.
2017 Results & Highlights:
- Grew system-wide sales revenue to $279 million, an increase of 51 percent compared to $185 million in the prior year.
- Opened 66 new restaurants and expanded to 36 states and Canada.
- Increased same store sales by 3.7 percent for the full year.
- Achieved average unit volumes (AUVs) of $1.4 million.
- Signed an agreement with M.H. Alshaya Co. to develop 100 restaurants in 11 countries including the United Arab Emirates, Kuwait, Saudi Arabia, Lebanon, Egypt, and Morocco. The Alshaya agreement marks the first expansion of Blaze Pizza outside of North America and represents the largest development deal in the brand’s history.
- Received a significant non-controlling investment from leading consumer-focused private equity firm Brentwood Associates. Concurrent with the transaction, Bill Barnum, Rahul Aggarwal and restaurant industry veteran Greg Dollarhyde joined its board of directors.
2018 Outlook:
- Projecting to open 87 new restaurants, expanding the brand’s worldwide footprint across five countries and 41 U.S. states. This year is expected to be the highest growth year in the brand’s history.
- Ramping up overseas expansion with new restaurants scheduled to open this year in Kuwait, Bahrain and Saudi Arabia beginning in March 2018.
- Expanding the brand’s digital technology, including an improved online ordering experience and an upgraded mobile app that supports split-second loading, one-touch ordering and enhanced guest loyalty.
- Launching the “Blaze Instantly” initiative, including (coming soon) nationwide third-party delivery, as the brand makes it easier for guests to experience Blaze Pizza on their terms whenever and however they wish.
“We spent our first five years in business refining our restaurant model and building out the infrastructure and franchise network to support our rapid growth,” says Jim Mizes, CEO of Blaze Pizza. “Today, we have the people, processes and systems in place to achieve our goal of becoming a billion-dollar brand by our 10th birthday.”
