Freddy’s Frozen Custard & Steakburgers Achieves Significant Systemwide Success and Development Growth In 2021
Fast-Casual Concept Announces Latest Multi-Unit Deal Signing
February 16, 2022 // Franchising.com // WICHITA, Kan. - Fast-casual restaurant concept Freddy's Frozen Custard & Steakburgers announced today that it achieved significant growth and success throughout 2021, reporting a 17.8% increase in systemwide sales year-over-year. This compounding success further fueled the brand’s nationwide expansion through franchise development, with 32 new restaurants opened in key target markets throughout 2021 - including its first locations in New Jersey and Wisconsin. In addition to growing its national footprint, Freddy’s signed 17 new multi-unit agreements with new and existing franchisees, adding 102 new units to its substantial development pipeline.
"On the heels of Freddy’s acquisition by Thompson Street Capital Partners in early 2021, last year marked one of the most transformative and noteworthy years in our company’s history. In the midst of continued growth and development systemwide, we leveraged this new partnership to invest in unparalleled corporate leadership and operational excellence while putting franchisees and their success first,” said Chris Dull, CEO of Freddy's Frozen Custard & Steakburgers. “We closed out 2021 stronger than ever, with franchisee’s reporting an AUV growth of 13.7% and look forward to further bringing this craveable concept to new heights throughout 2022 and beyond.”
In addition to its year-round success, Freddy’s also announced today the signing of its newest franchise agreement, signifying the brand’s continued multi-unit development success. Leading the execution of the deal is father and son duo Jonathan and Alec Ashley of Polo Burger Group. Currently with three Popeyes units in their portfolio, the Ashleys will be building nine new Freddy’s locations throughout eastern North Carolina over the next several years. The new restaurants will be found in counties that include Davidson, Forsyth, Lee, Richmond, Robeson and Scotland. Veterans to the restaurant industry, Alec formerly worked as a Senior Analyst for Restaurant Brands International before becoming a franchisee.
“We have been actively searching for a burger concept to complement our portfolio, and Freddy’s has proven to be the perfect match for its delicious food, family-friendly atmosphere and rich history,” said Alec Ashley, Polo Burger Group Franchisee. “Freddy’s on-going success is a testament to the viability of the concept, and we are thrilled to be joining the network of experienced restaurant operators.”
Building off its tremendous success over the last year, Freddy’s is kicking off 2022 with a robust development pipeline of nearly 15 restaurants slated to open in the first 75 days of 2022 alone, including locations in North Dakota and South Dakota, which are new states for the brand. Looking ahead, the brand is projected to open over 50 total locations throughout 2022 with new restaurants across the nation in states like California, Florida and Virginia. These efforts, coupled with the brand’s exceptional commitment to its franchisees, Team Members and one-of-a-kind Freddy’s Guest experience, help to support its greater development goal to double its footprint within the next four years, bringing the total unit count to 800 by 2026.
Freddy’s continues to be recognized as a leading fast-casual concept and franchise system by receiving numerous industry accolades. Most recently, the brand ranked No. 59 on Entrepreneur magazine’s highly competitive Franchise 500 ranking of the top franchise brands, as well as Franchise Times’ Fast and Serious Ranking at No. 28. In 2021, Freddy’s also ranked No. 46 on QSR Magazine’s esteemed QSR 50 list, No. 117 on Franchise Times’ annual Top 400 list, and was recognized on Nation’s Restaurant News’ Top 500 Restaurant Chains at No. 73.
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