Modern Market Eatery Offers Fresh Franchise Opportunity with Healthy Economics
For franchise restaurant operators looking to diversify, Modern Market Eatery offers a fresh opportunity to nourish their portfolios. As the leading health-conscious, fast-casual known for its farm-fresh, fast fare including its sustainable protein program, grain bowls, marketplace salads and seasonal cuisine, the brand believes it has just scratched the surface of its potential as a nationwide franchise.
Modern Market has grown steadily to nearly 30 locations over a dozen years; of which three are licensed agreements with high-performing operators in airports and universities. The brand has plans to continue its growth through non-traditional partnerships, its newly launched franchise program and corporate unit growth.
So why is the brand focused on growth in the middle of a pandemic?
Despite the lingering effects of the pandemic on many, Modern Market reports a two-year comp of double-digit sales growth. In addition, per the brand’s recently amended 2021 FDD, Modern Market achieved a trailing twelve months $2.2M* AUV and average unit EBITDA of 20%* and expects strong performance through the remainder of the year and beyond.
“Pre-pandemic, consumers were already choosing healthier foods,” says Rob McColgan, CEO and co-founder. “Now more than ever, people are attracted to the health-conscious menu items we offer, which are diverse, approachable and affordable.”
Modern Market launched in 2009 in Boulder, Colorado. McColgan says he and his co-founder started the company to make faster food, better and more accessible. “We believe in a world where high-quality nourishing food is as convenient as fast food.”
Although the brand is culinary driven, menu items consider ease of operations. Their summer menu includes a sustainably line-caught tuna—a game changing protein addition that is as easy to execute as it is sustainable, healthy and delicious. “This is the magic of Modern Market, our ability to take a fine-dining menu item or cooking technique and translate it into a fast casual format that delivers in every sense of the word.”
A core strategy that has helped the brand thrive throughout the pandemic is how well-equipped Modern Market is to meet its guests wherever they are. Guests can opt for curbside pick-up, third-party delivery, mobile ordering via its own app or website and still, dine-in.
“Although there are many who want to experience us without leaving their homes or cars, guests can still enjoy Modern Market in our restaurants in a beautiful, clean environment with attentive hospitality,” McColgan explains. “We still believe in an omnichannel experience and our technology integrations fully support this.”
The diversity of our menu is also what makes the brand unique. “We wanted to eliminate the veto vote,” notes McColgan. “For families, or groups, there’s something for everyone: salads, pizzas, bowls and sandwiches and a high-quality protein program that really sets the brand apart.”
Where most fast casuals do the lion’s share of their business at lunchtime, Modern Market’s hearty protein options such as sustainable salmon, natural chicken and 100% grass fed steak make the dinner daypart more robust, especially in suburban areas. A healthy mix of daytime and residential is a recipe for optimal site selection.
Large metropolitan markets have their share of healthier eating options, so Modern Market is looking to expand to untapped markets where there is demand and a need for the products the brand offers. Modern Market has a strong presence in its home market of Colorado, as well as locations across Arizona, Texas and Indiana. Therefore, its supply chain is national in scope and able to support franchise partners in both current and new markets.
The brand’s idyllic franchise partner is an individual or group who has experience operating restaurants and is well capitalized for multi-unit development. Having a passion to be an ambassador for bringing nutritious and delicious food to their communities is equally important.
“There is nothing more important than choosing the right franchise or other partners who can select the right locations to further our mission, vision and values.”
*Average Unit Volume for the trailing twelve months ended August 8, 2021 for the Mature Company-Owned Restaurants covered in Item 19 of our 2021 FDD is $2,152,963. The Average Unit EBITDA for the same Restaurants and timeframe is 19.94%. See our FDD for details.
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