Leading fast-casual restaurant concept Freddy's Frozen Custard & Steakburgers announced today it has signed four new multi-unit agreements with new and existing operators to bring more than a dozen new restaurants to New Jersey, Texas, Indiana, Kentucky, Tennessee and South Dakota. Year-to-date, Freddy's has executed a total of 13 multi-unit agreements adding nearly 70 new restaurants to the brand's overall development pipeline. This surge in franchise development is a reflection of the brand's aggressive growth strategy and will continue to accelerate expansion over the next couple of years. With additional openings slated to take place through the end of Q4, the brand is on track to open over 35 locations this year.
"Freddy's commitment to the success of our Franchise Owners coupled with our devotion to creating an unforgettable Guest experience has helped us become a leading franchise opportunity for experienced developers looking to diversify their portfolio," said Andrew Thengvall, CDO of Freddy's Frozen Custard & Steakburgers. "It's been an exciting time to be part of this brand, and we're looking forward to working with these four groups to further grow our presence in key markets and build upon the momentum we've experienced recently. 2021 has been a remarkable year for Freddy's, and our continued multi-unit development success is a true testament to the wealth of potential of our franchise opportunity."
Four different franchise groups have signed multi-unit deals to develop 15 new restaurants across six states. The groups spearheading this development and their growth plans include:
- Freddy's very first franchisee, Ron Oberg, who operates as TR Hospitality Group, LLC, signed a new agreement to bring three locations to Rapid City, South Dakota. Oberg joined Freddy's in 2004 establishing Epoch Development, Inc, and opening the brand's first franchised restaurant located in Hutchinson, Kansas. Today, Epoch owns and operates 10 locations throughout Kansas, Oklahoma and Texas. While TR Hospitality has 7 locations throughout Nebraska and is currently in the development phase for two locations in Sioux Falls, South Dakota.
- Existing franchisee group Feed Your Face, LLC has agreed to develop five additional units in Indiana, Kentucky and Tennessee. The group currently has two Freddy's locations open in Kentucky as well as another under development and slated to open in Q1 of 2022.
- TWG Management Co., Inc will be adding Freddy's to its extensive franchisee portfolio, which currently consists of 14 units with franchise brands including Qdoba, Jamba Juice, Wetzel's Pretzels, Charlie's Philly Cheesesteaks and Great American Cookies, as well as independent restaurant concept Capital Craft. TWG Management Co., Inc will develop four Freddy's restaurants in Somerset and Monmouth Counties in New Jersey.
- In Texas, new franchisee group Big Country Custard has agreed to develop three new restaurants in the Abileneand Weatherford areas.
"As multi-unit operators since 1990, we've learned what key differentiators to look for when expanding into new areas of the foodservice industry. Freddy's offers a unique combination of craveable food and genuine hospitality, and the business model continues to excel compared to competitors within its space - not to mention the brand's impressive AUV," says Tom Graziano of TWG Management Co., Inc. "The decision to add Freddy's to our portfolio was simple, and we fully believe there's no better time than now to be part of the brand's monumental period of growth while further expanding its presence in New Jersey."
Fueled by the brand's ongoing success with multi-unit franchise development, 2021 has marked a year of significant growth for Freddy's. In Q3 alone, the rapidly-growing franchise concept opened more than 10 new restaurants, including milestone openings in New Jersey and Wisconsin marking the brand's debut in both states. With more than a dozen additional locations slated to open before the end of the year, Freddy's is continuing to significantly expand its footprint nationwide.
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.