November 12, 2009 // Franchising.com // LAKEWOOD, Colo. — Throughout 2009, Manhattan Bagel has satisfied franchise investors' cravings for a quick-casual restaurant concept capable of feeding consumer hunger for quality, freshness, and value.
"We've built our presence in Northeastern U.S. markets to more than 60 stores in the chain and as a result there's a real affinity for the Manhattan Bagel brand," said Jeff O'Neill, chief executive officer and president of Einstein Noah Restaurant Group, the franchisor of Manhattan Bagel. "Both consumers and franchise investors throughout the region recognize that this brand's freshly baked bagels, fresh-prepared breakfast and lunch sandwiches, and delicious brewed coffees are the foundation of a world-class concept."
As the year winds down, momentum behind Manhattan Bagel continues to build. The brand is celebrating. the signing of three agreements to open restaurants in Summit, NJ, Warrington , Pa. and South Jersey and the opening of a new store in Morris Plains, NJ. In the fourth Quarter Manhattan Bagel anticipates opening one to three additional stores. With franchise expansion in full motion, company expectations are high for significant growth in 2010.
"We are attracting aggressive and growth-oriented entrepreneurs who recognize the strength of the Manhattan Bagel brand and the opportunity to compete in the fast casual segment of the restaurant industry," added O'Neill.
Plans for 2010 include aggressive development in key Northeast markets with existing and new franchisees capable of multi-unit growth. The company has identified Greater Philadelphia, New Jersey, upstate New York, Long Island, and Delaware as the primary areas to increase its footprint. Given the exceptional real estate available at lower costs than in recent years and the steady performance of the quick-casual breakfast café and bakery segment, Manhattan Bagel is well-positioned to enter into new cities and towns throughout the region.
Einstein Noah Restaurant Group, Inc. is a leading company in the quick casual restaurant industry that operates and licenses locations primarily under the Einstein Bros.® and Noah's New York Bagels® brands and primarily franchises locations under the Manhattan Bagel brand. The company's retail system consists of approximately 600 restaurants in 36 states and the District of Columbia. It also operates a dough production facility. The company's stock is traded on the NASDAQ under the symbol BAGL.