Freddy’s Frozen Custard & Steakburgers wrapped up a year of record growth in 2016 and is poised for its strongest year yet in unit-count growth for 2017. The fast-casual restaurant concept expects to open approximately 70 new restaurants by the end of this year in existing and new markets, including three new states.
Freddy’s ended 2016 with 59 new restaurants, requiring approximately $120 million in development spending nationwide, and landed at 40 percent year-over-year new-restaurant growth. Total unit count by December 31 of 2016 was 236. That number has since increased to 241. The restaurant concept opened in four new states in 2016 (Alabama, Louisiana, Michigan and Montana), increasing its state count to 30 and setting the stage for it to open for the first time in Wyoming, Maryland and Mississippi in 2017.
Among other highlights for Freddy’s in 2016, the company’s co-founder and namesake Freddy Simon was featured on Veterans Day as ABC World News Tonight’s “Person of the Week.”
“Sharing my dad’s story with the country was a proud moment for the company and our family,” says Randy Simon, CFO. “As a WWII veteran and a successful service-industry executive in his earlier professional life, Freddy gives each of us something we can aspire to do. He reminds us what it means to extend genuine hospitality to every guest who chooses to dine at Freddy’s.”
Though Freddy’s celebrated a year of milestones and new pinnacles, the successes were tempered by the loss of co-founder, president and CEO Bill Simon, who died last December after a battle with cancer.
“Bill led Freddy’s through 14 years of increasing momentum and growth in unit count, average unit volumes and systemwide sales,” says Randy Simon. “He worked to keep the infrastructure ahead of the expansion and left us with his vision of excellence and a clear path to success. With his example in our hearts and minds, we move forward in his honor and are excited for the future of Freddy’s.”
Co-founded in 2002 by Scott Redler and Bill, Randy and Freddy Simon, Freddy’s opened its first location in Wichita, Kansas, offering a unique combination of cooked-to-order steakburgers, Chicago dogs, and other savory items along with its signature desserts prepared with premium frozen custard made fresh throughout the day. Today, 241 Freddy's restaurants serve a total of 30 states across the map from California to Pennsylvania, Virginia and down the east coast states to Florida.