August 22, 2012: Market Watch
DENVER, Aug 22, 2012 (BUSINESS WIRE) — Smashburger, the expanding better burger restaurant, today announced it is ranked number 405 on the 31st annual Inc. 500, thanks to its three year sales growth of 928%. The Inc. 500 is an exclusive ranking of the nation’s fastest-growing private companies. The list represents the most comprehensive look at the most important segment of the economy–America’s independent entrepreneurs.
Smashburger is the country’s fastest growing fast casual restaurant concept, known for its smashed fresh, served delicious 100 percent Certified Angus Beef burgers and broad menu that includes a selection of tender grilled and crispy chicken sandwiches, grilled and split hot dogs, fresh tossed entree salads and an array of irresistible sides, beverages and hand-spun Haagen-Dazs(R) shakes.
Smashburger currently operates and develops both corporate and multi-unit franchise territories across the globe with 167 restaurants in 27 markets in the United States, Calgary, Canada and Kuwait. The company plans to open up to 60 new restaurants in 2012 and remains focused on strategic development in key domestic and international markets including Chicago, Washington, D.C., Miami, Boston and Canada. .
“2011 was a significant year of expansion for Smashburger and we are honored to be recognized a second year in a row for our brand’s rapid growth and innovative concept, particularly as one of the top restaurant concepts on the list,” commented Dave Prokupek, chairman and CEO of Smashburger. “2012 has brought some important milestones as we’ve celebrated our five year anniversary and expanded outside the U.S., with our first international restaurants opening in Kuwait and Calgary, and Costa Rica and Saudi Arabia expected to open later this year. We look forward to the next chapter of Smashburger’s growth as we continue expanding to new markets and introducing our premium menu offerings around the globe.”
The 2012 Inc. 500, unveiled in the September issue of Inc. (available on newsstands August 21 to November 15 and on Inc.com), is the most competitive crop in the list’s history. To make the cut, companies had to have achieved a staggering minimum of 770% in sales growth. The Inc. 500′ s aggregate revenue is $15.7 billion, with a median three-year growth of 1,431 percent. The companies on this year’s Inc. 500 employ more than 48,000 people and generated over 40,000 jobs in the past three years. Complete results of the Inc. 500|5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/500 .
“Now, more than ever, we depend on Inc. 500/5000 companies to spur innovation, provide jobs, and drive the economy forward. Growth companies, not large corporations, are where the action is,” says Inc. magazine Editor Eric Schurenberg.
More about Inc. and the Inc. 500|5000
The 2012 Inc. 500|5000 is ranked according to percentage revenue growth when comparing 2008 to 2011. To qualify, companies must have been founded and generating revenue by March 31, 2008. They had to be U.S.-based, privately held, for profit, and independent–not subsidiaries or divisions of other companies–as of December 31, 2011. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2008 is $100,000; the minimum for 2011 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Companies on the Inc. 500 are featured in Inc.’s September issue. They represent the top tier of the Inc. 5000, which can be found at www.inc.com/500 .
Smashburger is America’s fastest growing, fast casual “better burger” restaurant known for its hand-crafted burgers made with fresh, never frozen, 100 per cent Certified Angus Beef, that is “smashed”, seared and seasoned on the grill to juicy perfection for every individual order. Developed and owned by private equity firm Consumer Capital Partners (CCP), Smashburger operates and develops both corporate and multi-unit franchise territories across the globe with 167 restaurants across 27 markets in the United States, Calgary and Kuwait. Smashburger recently topped Fast Casual’s 2012 Top Mover & Shakers list, and was named America’s Most Promising Company by Forbes magazine last year. It is the recipient of the International Council of Shopping Centers 2011 Hot Retailer Award and was also ranked No. 99 on the 2011 Inc 500 list. To learn more, visit www.smashburger.com .
Founded in 1979 and acquired in 2005 by Mansueto Ventures, Inc. is the only major brand dedicated exclusively to owners and managers of growing private companies, with the aim to deliver real solutions for today’s innovative company builders. Total monthly audience reach for the brand has grown significantly from 2,000,000 in 2010 to over 6,000,000 today. For more information, visit www.inc.com .
About the Inc. 500|5000 Conference
Each year, Inc. and Inc.com celebrate the remarkable achievements of today’s entrepreneurial superstars–the privately held small businesses that drive our economy. The Inc. 500|5000 Conference & Awards Ceremony brings together members of the Inc. community, both a new class of Inc. 500|5000 honorees and the list’s alumni, for three days of powerful networking, inspired learning, and momentous celebration. Please join us October 3-5, 2012, at the JW Marriott Desert Ridge Resort & Spa in Phoenix, Arizona. For more information about the 2012 Inc. 500|5000 Conference & Awards Ceremony and to register, visit www.inc500conference.com or call 866-901-3205.