Better Burger Chain Announces System-wide Sales of $165M for 2012, 44% growth over 2011
Denver, CO – February 19, 2013 – In the close of a successful year of growth, Smashburger, the rapidly expanding better burger restaurant concept, is pleased to share a summary of its 2012 business results and accolades. The fast growing brand added a total of 58 new locations globally in 2012, comprised of 17 corporate locations and 41 new locations opened by its franchise partners, representing 36% total new unit growth over 2011, with a total count of 193 restaurants.
Smashburger has not only continued to build upon its success in the United States, but has expanded nationally making an international debut with restaurant openings in Calgary, Kuwait, Saudi Arabia and Costa Rica. David Prokupek, Chairman and CEO states, “We are very excited about the record growth we have had over the past year with Smashburger and the fact that we have gone internationally. We are committed to continue sharing our better burger concept to our consumers all over the world and sharing the excitement with our franchise partners.”
Looking ahead to 2013, Smashburger is targeting 30% unit growth, with the addition of 50-60 restaurant openings. This year’s franchising strategy has placed a strong focus on “co-development” markets which offering franchise opportunities in markets where the brand currently operates corporate restaurants. Co-development markets that are currently available to franchise include Chicago, Miami, Los Angeles, DC, San Francisco, and Toronto.
Additionally, Smashburger is seeking franchise partnerships to bring its award-winning burgers and premium menu offerings to the top 50 markets including: Boston, Seattle, Portland, Pittsburgh and Orlando. Still recognizing the global demand for a smashed fresh, served delicious burger, Smashburger is seeking and recruiting qualified franchise partners to further develop the brand internationally; in multiple Canadian territories including Toronto, Vancouver and Montreal, Central America, UK and Asia.
“Since the launch of Smashburger in 2007, our vision has been to grow the brand into the best, most innovative burger concept in the industry,” commented David Prokupek, Chairman and CEO of Smashburger. “Over the past year we have continued to execute that goal, entering new markets and attracting top franchise partners to join our team and help grow our successful fast casual model. As we look to build upon our brand’s momentum in 2013, we see plenty of runway for more restaurant locations.”
Over the course of the last year, Smashburger received dozens of best burger awards as well as several notable rankings, including being named number one of Fast Casual’s Top 100 Movers and Shakers list, in both the brand and industry executive categories, with CEO David Prokupek topping the executive list. Additionally, the company was ranked ninth on Inc. magazine’s Hire Power Awards list, for its role in job creation, as well as QSR Magazine’s 2012’s Best Franchise Deals.
Smashburger is America’s fastest growing, fast casual “better burger” restaurant with more than 200 corporate and franchise restaurants operating in 29 states and in four international countries. The company began in 2007 with the vision of Rick Schaden and funding by Consumer Capital Partners—the private equity firm that he and his father Richard own. By offering fresh, premium “smashed to order” burgers, chicken sandwiches, salads, signature side items and hand-spun Haagen-Dazs shakes, Smashburger has modernized the way people think about burgers. Known for localizing its menu in every market with regionally inspired burgers and side items and offering local craft beers, Smashburger has received numerous awards including topping Fast Casual’s 2012 Top Mover & Shakers list, America’s Most Promising Company by Forbes magazine, INC. 500’s List of America’s Fastest Growing Companies INC’s #9 Hire Power Award winner, and is regularly voted “best burger’ in cities all around the world. To learn more, visit www.smashburger.com.
About Consumer Capital Partners
Consumer Capital Partners is an innovative investment and operating company, focused on starting up, operating and investing in consumer, franchising and lifestyle brands. Consumer Capital Partners also engages in modern channels of giving across a broad spectrum of contemporary causes. To learn more about CCP, please visit www.consumercp.com.
Kristina Jorge, ICR