Golden Corral Celebrates Franchise Development Success in 2019, Projects Additional Growth in 2020
Restaurant Chain Aims to Build on 2019 Growth with Expansion into New Markets This Year
February 04, 2020 // Franchising.com // Raleigh, N.C. - Golden Corral, the nation’s largest grill-buffet chain, experienced a very successful year in 2019, marked by new franchise units and industry recognition. The company added 12 new locations across the country and secured agreements for another 16 restaurants, continuing Golden Corral’s position as a category leader.
Golden Corral was recently recognized as a prime restaurant franchise opportunity by these top industry outlets:
- Entrepreneur - Listed #1 in its category for the magazine’s 2020 Franchise 500 Rankings.
- Franchise Business Review - Named one of the “200 Best Franchises to Buy in 2020,” based on franchisee satisfaction and performance recommendations.
- FSR Magazine - Chosen as one of the “10 Best Full-Service Franchise Deals” for its overall franchise opportunity, along with the company’s new incentive program to help existing franchisees renovate their restaurants with the brand’s new Gateway design.
Below are some of the franchise development highlights Golden Corral achieved in 2019:
- Signed commitments for 16 new restaurants; seven with new franchisees and nine with existing operators for additional locations.
- Signed a new commitment to develop New Hampshire for the first time.
- Signed a new commitment in Puerto Rico, Golden Corral’s first restaurant outside the United States mainland.
“2019 was an exciting year for Golden Corral,” said Van Ingram, Vice President of Franchise Development for Golden Corral. “We continued our strong performance in the state of California with four new commitments, plus we signed commitments across the entire United States. We currently operate in 40 states, and we will enter two new markets with units under construction in New Hampshire and the U.S. territory of Puerto Rico. We continue to be a leader in our segment, and we have strong momentum going into 2020.”
Building off its momentum in 2019, Golden Corral has established the following goals for 2020:
- Signing eight new restaurant entities and five additional commitments from current franchisees.
- Opening 13 new units nationwide.
Golden Corral has also made a tremendous commitment to their current franchisees with an industry-leading remodel incentive for existing units. Announced in 2019, and in place for 2020, the comprehensive franchisee incentive program is designed to provide financial and operational assistance with a reinvestment credit, a local marketing credit, and a people hiring and training credit for franchisees who remodel their current building to the new Gateway prototype design. The Golden Corral Gateway restaurant features a contemporary appearance with oversized windows, stacked stone fireplaces, redesigned buffet service areas, and multiple seating areas. The prototype was created with the input of experienced franchise owners and guest research.
“Golden Corral’s industry-leading remodel incentive plan has motivated our current franchisees to continue investing in their current assets,” said Ingram. “Our Gateway design has proven very successful for new units, and we now have incentives to help our franchisees add this new interior and exterior image to serve our customers in a modern and inviting environment.”
About Golden Corral
Golden Corral, based in Raleigh, N.C., is the nation’s largest grill-buffet restaurant chain with 483 restaurants operating in 40 states as of January 1, 2020. Golden Corral is famous for its variety, including USDA steaks cooked to order, smoked meats, savory pot roast, hot yeast rolls, and desserts like homemade carrot cake and the Chocolate Wonderfall®.
SOURCE Golden Corral
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