Penn Station East Coast Subs has signed multiple new agreements with existing franchisees for a total of 50 new restaurants.
The new agreements include units in Knoxville and Nashville, Tennessee; Canton, Cleveland, Columbus and Dayton, Ohio; northern Kentucky; Charlotte and Winston-Salem, North Carolina; and St. Louis, Missouri. The franchisees are projected to open the new restaurants over approximately the next 60 months.
“Executing new development agreements with so many existing franchisees is really a testament to the confidence our franchisees have in the Penn Station franchise system and where we are going,” says Craig Dunaway, president of Penn Station. “Penn Station has emerged from the pandemic in growth mode. Our new development team has spent the last few months evaluating our growth strategy and adding experienced leadership and technology resources to ramp up growth. That is already coming to fruition with new development agreements, and we are also working with additional existing and prospective new franchisees to add even more growth.”
“We have development territory available in many major metropolitan areas for both existing and prospective new franchisees,” Dunaway says. “We feel that many prospective multi-unit franchisees from other brands are highly interested in expanding their portfolios right now and our premium quality sandwich brand complements many categories, including chicken, breakfast/brunch, Mexican and pizza concepts. We’re very excited to see what the next five years have in store for us, and our existing franchisees’ desire to grow speaks positively for Penn Station and our franchise community overall.”
Penn Station has also announced its Target Growth Area Development Incentive Program. The program offers 0 percent royalty for six months and 50 percent off initial franchise fees to both current and new franchisees that sign a new development agreement to open one or more new restaurants in eligible target growth areas.
“This incentive program provides franchisees the chance to bring our concept to new markets at a reduced fee structure,” Dunaway says. “Penn Station has always grown in concentric circles from our home base in Cincinnati, and these target growth areas were carefully chosen to line up with our long-term goals. We believe there are excellent markets within these states that will provide great opportunities for multi-unit growth with a concept that offers operational simplicity, premium products and an award-winning training program.”
The Target Growth Area Development Incentive Program includes the following areas:
Atlanta, Georgia; Chattanooga and Memphis, Tennessee; Chicago, Illinois; Charlotte, Raleigh, and Winston-Salem, North Carolina; Richmond, Virginia; Pittsburgh, Pennsylvania; Omaha, Nebraska; Kansas City, Kansas, and more.