Quiznos Helps Energize Real Estate Market with Newly-Announced Growth Initiative
Company Plans to Develop 600 New Locations in Markets Nationwide
LAS VEGAS --(BUSINESS WIRE)-- Quiznos, one of the nation's premier quick service restaurant chains and pioneer of the toasted sandwich, today announced that it is seeking approximately 600 new high-traffic sites to facilitate the planned development of the approximately 600 new corporate-owned restaurants announced by Quiznos last week. The new restaurants could create more than 7,500 new jobs. The growth announcement comes as part of the ICSC Global Real Estate Convention in Las Vegas.
Quiznos is dedicating recently-restructured capital to growth in markets throughout the country, helping to ignite the commercial real estate market and fueling market-level economic growth nationwide.
"We are on a strong growth track at Quiznos, and we see the emerging economy as the ideal time to expand brand presence, grow market share and meet the strong customer demand," Rick Schaden, Quiznos' founder and CEO, said. "Quiznos has the solid financial position to realize and accelerate tremendous growth, and we are anxious to engage with the best real estate partners as we posture Quiznos for new levels of success."
As a national brand, Quiznos currently has locations in all 50 states and hopes to further establish its nationwide presence through this new growth initiative. The company is targeting prime commercial real estate with high daytime traffic in markets nationwide, with particular focus on locations with 1,200 to 1,600 square feet.
"Quiznos brings energy to the retail real estate space with their newly-announced growth goals," said Chris Simmons, a broker with Welsh Companies in Minneapolis. "We expect owners and developers of highly sought-after trade areas to eagerly respond to the strength of a much-loved, national brand such as Quiznos."
In addition to new store development, Quiznos is actively investing in its brand – refreshing its brand identity and renovating in-store design in more than 1,100 units to date. The company plans to renovate an additional 2,000 locations within the next 12 months.
Individuals or parties interested in additional details on potential locations are invited to call Quiznos' real estate hotline at 1-866-4-TOASTED.
Now in its 30th year, Denver-based Quiznos is a national chain designed for today's busy consumers who are looking for a tasty, freshly prepared alternative to traditional fast-food restaurants. Using only premium ingredients, Quiznos' nearly 4,000 restaurants offer creative, chef-inspired recipes for sandwiches, soups and salads.
CNN Money ranked toasty sub pioneer Quiznos as the No. 2 most popular franchise of the past decade in 2010. In 2009, Quiznos' Toasty Torpedoes earned a spot as one of the top 10 new product introductions from the Most Memorable New Product Launch Survey. Also in 2009, QSR Magazine ranked Quiznos No. 19 overall in its Top 50 Chains in system-wide sales. In October 2007, Quiznos was recognized for leading the QSR industry in wait time performance by the Mystery Shopping Providers Association's (MSPA) 2007 Wait Time Study. In May 2007, Zagat's consumer surveys listed Quiznos in the top 5 for Top Food, Top Facilities, Top Service and Top Overall, ahead of its direct competitors.