Freddy's Frozen Custard & Steakburgers announced that it achieved significant growth and success throughout 2021, reporting a 17.8 percent increase in systemwide sales year-over-year. This compounding success further fueled the rapidly-growing brand’s nationwide expansion through franchise development, with 32 new restaurants opened in key target markets throughout 2021—including its first locations in New Jersey and Wisconsin. In addition to growing its national footprint, Freddy’s signed 17 new multi-unit agreements with new and existing franchisees, adding 102 new units to its substantial development pipeline. As a result of the brand’s 2021 agreement signings, Freddy’s will expand into new states such as North Dakota and South Dakota, as well as open new restaurants in prime markets including New Jersey, Texas, Indiana and Chicago, over the next several years.
"On the heels of Freddy’s acquisition by Thompson Street Capital Partners in early 2021, last year marked one of the most transformative and noteworthy years in our company’s history. In the midst of continued growth and development systemwide, we leveraged this new partnership to invest in unparalleled corporate leadership and operational excellence while putting franchisees and their success first,” says Chris Dull, CEO of Freddy's Frozen Custard & Steakburgers. “We closed out 2021 stronger than ever, with franchisee’s reporting an AUV growth of 13.7% and look forward to further bringing this craveable concept to new heights throughout 2022 and beyond.”
In addition to its year-round success, Freddy’s also announced the signing of its newest franchise agreement, signifying the brand’s continued multi-unit development success. Leading the execution of the deal is father and son duo Jonathan and Alec Ashley of Polo Burger Group. Currently with three Popeyes units in their portfolio, the Ashleys will be building nine new Freddy’s locations throughout eastern North Carolina over the next several years. The new restaurants will be found in counties that include Davidson, Forsyth, Lee, Richmond, Robeson and Scotland. Veterans to the restaurant industry, Alec formerly worked as a Senior Analyst for Restaurant Brands International before becoming a franchisee.
“We have been actively searching for a burger concept to complement our portfolio, and Freddy’s has proven to be the perfect match for its delicious food, family-friendly atmosphere and rich history,” says Alec Ashley, Polo Burger Group Franchisee. “Freddy’s on-going success is a testament to the viability of the concept, and we are thrilled to be joining the network of experienced restaurant operators.”
Freddy’s is kicking off 2022 with a robust development pipeline of nearly 15 restaurants slated to open in the first 75 days of 2022 alone, including locations in North Dakota and South Dakota, which are new states for the brand. Looking ahead, the brand is projected to open over 50 total locations throughout 2022 with new restaurants across the nation in states like California, Florida and Virginia. These efforts, coupled with the brand’s exceptional commitment to its franchisees, team members and one-of-a-kind Freddy’s Guest experience, help to support its greater development goal to double its footprint within the next four years, bringing the total unit count to 800 by 2026.
Franchise opportunities remain in areas across the U.S., including the Northeast, Upper Midwest, California, Florida, Oregon, and Washington and large metro areas such as Pittsburgh and many of its surrounding markets.