Smashburger Franchise Spreads Its ''Better Burger'' across America
Franchise Partners, Strong Leadership, Consumer Demand, Great Tasting "Better Burgers" Fuel Smashburger's Expansion
DENVER --(BUSINESS WIRE)-- Smashburger, the country's fastest growing "better burger" restaurant company, will more than double its size in 2010 opening more than 60 stores as it spreads its fast-casual burger concept across the country. In the first fiscal quarter, which ended March 28, 2010, Smashburger opened 15 restaurants in 11 markets bringing its total stores to 58 and run rate system wide sales more than $60 million.
By year's end, Smashburger will have approximately 100 stores in more than 15 states. It will expand, with the help of franchise partners into Louisiana, Kentucky, North and South Dakota, and Florida; and, corporately the company will add Atlanta and the Chicago-land area.
"Smashburger enjoyed a very successful first fiscal quarter," says Smashburger Chairman and CEO David Prokupek. "Our same-store sales continued to be strong, our franchise partners and leadership team have done an excellent job shepherding and facilitating growth and our product speaks for itself."
Smashburger fills the gap between low-priced fast-food burgers and their casual dining counterparts while providing a high-quality product with twice-a-week affordability. Smashburger's "better burger" concept resonates with consumers and is rapidly expanding across the country in both small and large markets.
In support of the company's growth, Smashburger recently promoted Doug Branigan to Senior Vice President of Franchise Operations, Amy Weasler to Director of Franchise Sales, and Greg Creighton to Executive Vice President of Operations.
To support its growth in 2010, Smashburger is seeking to add senior leaders in supply chain and procurement, finance, franchise operations, franchise real estate and marketing focusing on maintaining its industry leadership.
Denver-based Smashburger, the country's fastest growing "better burger" restaurant company, is designed to be every city's favorite burger place. It was named a 2009 Hot Concepts! award winner by Nation's Restaurant News. Developed and owned by private equity and concept-development firm Consumer Capital Partners (CCP), Smashburger operates and develops corporate, joint venture and franchise stores across the country. Smashburger currently has more than 55 stores in 14 states and has sold franchise and joint venture agreements that will bring the total to more than 350 locations over the next five years.
About Consumer Capital Partners
Denver-based Consumer Capital Partners (CCP) is an innovative private investment and concept development firm focused on multi-unit retail businesses, primarily in the restaurant, food, and leisure industries. CCP has deep experience in the fields of private equity, brand, concept and product development, and strategic consulting.