Great Harvest Bread Co., a leader in the bakery cafe space, was named a Top Food Franchise of 2019 by Entrepreneur magazine. Under the “Baked Goods” category, the franchise earned the No. 10 spot, rising two slots up from last year’s ranking.
Over the last two years, Great Harvest has revolutionized its expansion efforts via bakery cafes and hub-and-spoke models—the latter of which many new & existing franchisees across the United States have opted to open. The brand is looking to strengthen its presence in the Northeast as it’s in the process of developing a hub and two-spokes to serve Long Island, N.Y., and a hub with one spoke in Red Bank, N.J., and Asbury Park, N.J. Great Harvest recognizes the high-index suburban areas throughout the Northeast and is actively seeking qualified franchisees to complete the expansion in the metro areas of New York, New Jersey, Connecticut, Pennsylvania and Philadelphia.
Investors looking to diversify their business portfolio and establish a presence either internationally or in the Northeast with a wholesome franchise can learn more about Great Harvest Bread Co. at the International Franchise Expo in New York City, May 30 – June 1. Learn how this company, located at booth No. 623, built a franchise model that allows multi-unit and multi-brand franchise owners to go where the competition cannot and cover more territory at an unrivaled investment level. A hub-and-spoke model costs about $700K to build out and pulls in, on average, $1.6 million with 17.4 percent EBITDA.
Given the bakery cafe’s customizable design, its modernized franchise model and the brand’s 40-plus years of success, Great Harvest’s influence on the local market level remains unmatched by Panera and other big-name competitors. The local level success of the nearly 200-unit franchise is also due in part to the brand’s promise of milling only fresh wheat in-store sourced from trusted farmers in Montana’s Golden Triangle, largely considered the top spot for agricultural production and ingredient processing.
“The initial response from existing and new franchisees has been supportive and by yearend, we expect to have 33 percent of the system operating through the hub-and-spoke model as operators add their second or third cafes in their respective markets,” says Great Harvest Bread Co. CEO Mike Ferretti.
Unlike other big-box fast casual franchisees, Great Harvest franchisees can out-bake and out-localize the competition in high-traffic areas with as little as 1,500 square feet. With the freedom franchise, each location takes on the look and personality of the demographic around them, keeping the same quality but local atmosphere unique to each bakery cafe. Great Harvest is an investment opportunity that lets the owner decide how turnkey they want the process to be and lets franchisees call their own shots.