Quaker Steak & Lube(R) Experiences Unprecedented Growth In 2011

By: Quaker Steak & Lube® | 3 Shares 101 Reads

Rapidly Growing Casual Dining Chain Opens Eight New Restaurants; Signs Agreements for 35+ New Locations

SHARON, PA. – November 1, 2011 – // PRNewswire // -- The award-winning casual-dining franchise Quaker Steak & Lube® known for its Best Wings USA and over 21 sauce varieties, has experienced unprecedented growth in 2011 with the opening of eight new restaurants, and signed franchise agreements to develop more than 35 locations in the U.S. over the next several years. Currently, Quaker Steak & Lube® has 47 locations in 15 states and Canada with plans to open 12 new restaurants next year.

"2011 has been a tremendous year for our brand, and with these franchise development agreements and corporate restaurants, we are in a unique position to double our footprint in an extremely short time period," said John Longstreet, president and chief executive officer, Quaker Steak & Lube®. "Our high average unit volume, quality food and memorable dining experience are the keys to our success, and we look forward to continuing to grow and evolve our company in 2012."

In October, the company opened its newest restaurant in Springfield, IL, marking the first Quaker Steak & Lube® location in Illinois. The company's next restaurant will open in Pineville, NC during the first quarter of next year, and subsequent restaurants will be built in Northern New Jersey, and Upstate New York, New England, North Carolina, Virginia, the Dakotas and Texas. The unique decor, including race cars suspended from the ceilings, motorcycles, Corvettes and gas station memorabilia, combined with the crave-able food and high-octane events has created a cult-like following for The Lube®.

"Our brand has endless heart and soul, which is evident the moment you walk into one of our restaurants," said Longstreet. "Our experienced management team and dedicated franchisees are committed to the company's success and share a common goal of providing customers with a memorable and lasting dining experience."

Today, Quaker Steak & Lube® has become one of the fastest-growing restaurant chains in the country, and has won hundreds of national and international awards for its wings and 20 different wing sauces. Most recently, Quaker Steak & Lube® has won the Cheers Beverage Excellence Award for 2012 for Best Beverage Merchandising for its signature Bar Jars.

Developers seeking to own and operate a Quaker Steak & Lube® franchises should possess a minimum liquidity of $1 million, a net worth of $3 million and willing to commit to multiple locations. Prior restaurant operations or hospitality experience is strongly preferred.

For more information on franchise opportunities, please contact Zeb Hastings at zhastings@thelube.com or visit Booth 130 at the Restaurant Finance & Development Conference in Las Vegas, November 7th through November 9th.

For more information about Quaker Steak & Lube®, please visit www.quakersteakandlube.com.

About Quaker Steak & Lube®:

Founded in 1974 and built in an abandoned gas station in Sharon, Pa., the original Quaker Steak & Lube® began as a cook-your-own steak restaurant, before expanding to over 40 locations throughout the United States and Canada. The unique décor, including race cars suspended from the ceilings, motorcycles, Corvettes and gas station memorabilia, combined with the crave-able food and high-octane events has afforded The Lube® a cult-like fan following. Today, Quaker Steak & Lube® has become one of the fastest-growing restaurant chains in the country, and has won more than 100 national and international awards for its wings and 25 different wing sauces. Most recently it was named the 2010 Festival Favorite at the National Buffalo Wing Festival in Buffalo, New York. For more information visit www.quakersteakandlube.com.

###