Potbelly Corporation signs multi-unit development agreement for downtown Orlando
By: Belly sandwich | 0 shares 23 readings
Potbelly continues to bring more toasty sandwiches and good vibes to fans with newly signed development deal
CHICAGO, November 01, 2022 // GLOBE NEWS WIRE // – Potbelly Corporation (NASDAQ: PBPB) (“Potbelly” or the “Company”), the iconic neighborhood sandwich shop, today announced a multi-unit development agreement to bring six new stores to Orlando, Florida over the next seven years.
Bob Wright, President and CEO, said, “I am thrilled to announce another franchise agreement to bring six new stores to the Orlando, Florida area. We are excited to embark on this new relationship with Shari Nasir and Imran Malik of Sugarland Investment Group, LLC (“Sugarland”) to share the love of toasted sandwiches with Central Florida and expand the Potbelly brand. This agreement is another important step in advancing our franchise growth acceleration initiative. »
Shari Nasir, CEO of Sugarland, said, “We are longtime fans and supporters of Potbelly, and we look forward to playing an active role in its growth and expansion across the United States. We are truly passionate about the brand, its high quality and delicious food. and are extremely excited to bring Potbelly to our backyard!
In addition to a strong background in corporate operations, Shari has experience in multi-family housing developments in the Orlando, Florida area and is well positioned to leverage her extensive local network and real estate development experience as Sugarland embarks on this franchise partnership. Sugarland will hire an operating partner to lead the day-to-day management of the store and is in the final stages of the selection process.
As part of the Franchise Growth Acceleration Initiative announced in March 2022, Potbelly plans to reach 2,000 units, of which at least 85% will be franchised stores over the next 10 years. The brand also plans to refranchise approximately 25% of its corporate stores.
Information on franchise applicants
A popular national mainstay widely celebrated for its signature toasted sandwiches and friendly atmosphere, Potbelly thrives in both metro areas like its newly announced Tampa (FL), Champaign-Springfield-Decatur (IL) and Orlando (FL) markets, and the suburban markets. . The brand partners with talented owner/operator groups in a strategic franchise initiative targeting attractive markets across the country.
To capitalize on momentum and drive sales, the brand is prioritizing marketing technology innovation through an updated website, mobile app and Perks loyalty program. Likewise, the concept focuses on streamlining operations at its restaurants through the Potbelly Digital Kitchen initiative. These improvements include elevating order sorting in a new, fast, technology-driven way, facilitating quality, accuracy, and speed.
Ideal franchise candidates must be able to meet the required financial criteria, have restaurant experience, strong entrepreneurial skills, focused and motivated problem-solving skills, and enjoy working with others. Operators can benefit from the sandwich concept’s flexible store designs, including in-line, endpoint, drive-thru and non-traditional formats, which are equipped with technology enhancements to support in-store, take-out and delivery dining. These factors, along with a varied menu and multiple time slots, make Potbelly an attractive franchise restaurant investment.
For more information on Potbelly franchise opportunities, visit www.potbelly.com/franchising-why-potbelly.
Potbelly Corporation is a neighborhood sandwich concept that puts smiles on customers’ faces with hot and grilled sandwiches, signature salads, hand-dipped shakes and other fresh menu items, customized exactly how customers want them, from over 40 years. Potbelly promises fresh, fast and friendly service in an environment that reflects the local neighborhood. Since opening its first store in Chicago in 1977, Potbelly has expanded to neighborhoods across the country, with 400 company-owned stores in the United States. Additionally, Potbelly franchisees operate more than 40 stores in the United States. For more information, please visit our website at www.potbelly.com.
This press release may contain statements that could be considered forward-looking statements or forecasts of future operations, including with respect to its ability to successfully execute its franchise growth acceleration initiative and development goals. . These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are based on management’s belief or interpretation of information currently available. These statements and assumptions involve certain risks and uncertainties, including that it may not be able to successfully execute its franchise growth acceleration initiative and that the Company may not be able to achieve its planned expansion. Actual events may also differ from these expectations due to risks identified from time to time in our filings with the Securities and Exchange Commission. We assume no obligation to update these statements at a later date.
SOURCE Potbelly Corporation
Lisa Fortuna or Ashley Gruenberg
Alpha IR Group
All Points Public Relations