Einstein Bros.(R) Bagels Sees Strong Growth Through Franchising and Licensing During First Three Quarters of 2010
Demand for Brand Grows Stronger As New Locations Continue to Open Nationwide
November 15, 2010 // Franchising.com // Lakewood, Colo. — As Denver-based Einstein Bros. Bagels enters the fourth quarter of 2010, it carries with it significant momentum for its franchise and license program from the year's previous three quarters.
The signature brand for Einstein Noah Restaurant Group, Inc. (NASDAQ: BAGL) has coupled its well-managed growth plan with creative marketing programs and innovative menu introductions to extend its presence into key U.S. markets.
"We are expanding our base of franchisees with talented and experienced restaurateurs, who recognize Einstein Bros. Bagels as a strong investment," said Jeff O'Neill, chief executive officer of Einstein Noah Restaurant Group. "Growth minded franchisees like Einstein Bros. as a strategic way to diversify their portfolios. Supported by our menu offerings and marketing programs, we are well on our way to becoming the fastest growing fast-casual restaurant chain in America."
Since the start of the year, Einstein Bros. has opened seven franchise locations and plans to open seven others during the next eight weeks. In addition, Einstein Bros. has signed multi-unit franchise agreements to open additional restaurants around the nation: seven stores in Reno, Nev.; six in Albuquerque, N.M., Phoenix, and South Bend, Ind.; five in downtown Chicago, and four in Palm Beach County. In total, these agreements represent 34 new locations.
Einstein Bros. Bagels license locations continue to open at universities, airports, hotels and health care facilities. As of the end of the 3rd quarter, Einstein Bros. has opened 25 licensed units and plans to exceed the 2009 total of 31 by the end of the year. Among the openings are locations at Northwestern University's Kellogg School, Kansas State University and Tulane Medical Center.
A recent opening at Duke Children's Hospital in Durham, N.C., marked the launch of a partnership with Starlight Children's Foundation. Whenever Einstein Bros. opens a location in a hospital supported by the foundation, Einstein Bros. will sponsor a mobile Fun Center to help seriously children and their families cope with their pain, fear and isolation through entertainment.
With 351 company-owned restaurants and 213 franchise and licensed locations, Einstein Bros. has built a strong presence and loyal following throughout the United States.
Growth minded entrepreneurs interested in franchising opportunities can contact Kevin Kruse at firstname.lastname@example.org. Those interested in airport and health care opportunities can contact Tina Toole at TToole@einsteinnoah.com, and anyone interested in opportunities at colleges and hotels may contact Matt Sullivan at email@example.com.
About Einstein Noah Restaurant Group
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 more than 700 restaurants in 39 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. Visit www.einsteinnoah.com for additional information. For information about franchise opportunities, contact Kevin Kruse at firstname.lastname@example.org.
This release contains forward-looking statements relating to the opening of franchise and license stores, including statements regarding the number of stores that Einstein Bros. will open for each segment in 2010. These forward looking statements, as well as the underlying estimates and assumptions relating to such statements, are based on currently available operating, financial and competitive information and are subject to a number of significant risks and uncertainties. Actual results may differ materially depending on a variety of factors including but not limited to the following: reaching agreements with prospective licensees and franchisees, the ability of Einstein Bros., licensees and franchisees to find suitable locations, reach acceptable lease terms, have adequate capital or obtain acceptable financing, find available contractors, build the locations, obtain licenses and permits, locate and train staff appropriately and open new restaurants. Additional risks are detailed in the company's filings with the Securities and Exchange Commission, including the "Risk Factors" section of the Einstein Noah Restaurant Group, Inc. Annual Report on Form 10-K and the Quarterly Reports on 10-Q The company assumes no obligation to update any of these forward-looking statements.