Nick the Greek, a Northern California-based chain serving up authentic Greek street food, proudly reports an impressive first half of 2024 driven by robust sales, strong restaurant openings and impressive franchise development activities. Midway through the year, Nick the Greek is continuing to appeal to consumers, with the top 25% of locations approaching an AUV of $2 million and the top 50% exceeding $1.75 million. The fast-growing brand experienced an impressive 25% increase in total system sales over the prior-year period, fueled by nine highly successful restaurant openings in new and existing markets. As it celebrates its 10 years in business, Nick the Greek is poised for a strong second half and beyond as interest in the brand continues to grow among consumers. In addition, the popular Greek chain is attracting even more savvy entrepreneurs looking to diversify and expand their franchise portfolios with a successful brand on the rise.
“New restaurant openings fueled by significant franchise interest are continuing to drive our success, and since most of our new locations are in the top 25 percent of AUV, we are reinforcing our growth strategy and confirming that our authentic Greek street food is a welcome addition to communities in states across the country,” said Komiel Mohsen, Chief Operating Officer of Nick the Greek. “We knew our 10th anniversary would be a landmark year in company history but starting 2024 with such strong performances across several key areas of our business, including sales, new restaurant openings and franchise development, has certainly sweetened our celebration.”
Nick the Greek proudly opened nine restaurants in the first half of the year, including a new market entrance in Porter, Texas, which features the brand’s first drive thru. With a projected AUV of nearly $1.9 million for stores opened in 2024, Nick the Greek is establishing a strong benchmark for new locations across its system, underpinned by the brand’s successful business model and growing consumer demand for authentic Greek cuisine. Nick the Greek also recently inked three multi-unit development deals in Salt Lake City, San Diego and Nashville, which will bring the brand to new markets in Utah and California, and mark its debut in Tennessee. Having crossed the 75-store milestone in Q2, Nick the Greek is on track to surpass 100 locations systemwide by mid-2025.
In June, brand momentum was on full display as Nick the Greek expanded its dessert menu with Chocolate Shell Froyo. The sweet treat was an instant fan favorite and sold more than 30,000 servings in its debut month. Chocolate Shell Froyo’s sweeping popularity among guests underscores Nick the Greek’s commitment to innovative and delicious menu options that are distinctively Greek inspired. The Chocolate Shell Froyo is a delightful companion to the brand’s beloved Frozen Greek Yogurt, featuring a layer of smooth, decadent milk chocolate that perfectly complements the tangy yogurt base.
Also in the first half of 2024, notable industry publications recognized Nick the Greek for remarkable growth and significant achievements. In June, Nick the Greek Co-founder and Chief Marketing Officer Nick “Baby Nick” Tsigaris was named one of QSR Magazine’s Young Leaders to Watch for his influential role in the brand’s success.
