Freddy's rides 2021 momentum into even more growth
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.”
Read more: QSR Magazine