Potbelly Announces Plans to Enter Georgia with 15-Unit Development Agreement
2024年11月8日 - 10:30PM
Potbelly Corporation (NASDAQ: PBPB), the iconic neighborhood
sandwich shop, today announced plans to open its first shops in
Georgia after finalizing a multi-unit development agreement with
franchise partner Royal Restaurant Group. Through the agreement,
Royal Restaurant Group, a national franchise group that
successfully operates restaurant locations for global brands, will
bring 15 Potbelly shops to Georgia, all in the greater Atlanta
region. This is Potbelly’s first development agreement in Georgia
and its second with Royal Restaurant Group.
“The signing of this development agreement marks a significant
step forward in the execution against our long-term plans for
growth and expansion, as it marks our entrance into the Atlanta
market and the great state of Georgia,” said Bob Wright, President
and CEO of Potbelly. “We are so appreciative of the team at Royal
Restaurant Group for their ongoing support and partnership in
bringing our warm, toasty sandwiches, signature salads, hand-dipped
shakes and other fresh menu items to markets in the Midwest and
southern U.S.”
The commitment covers regions primarily in central and northern
areas of the Atlanta market. Development is expected to begin in
January 2026, with three shop openings anticipated for each year
following.
This announcement builds on a separate, 40-shop agreement that
Potbelly signed with Royal Restaurant Group in October 2023. The
franchisee currently has four Potbelly shops in operation and a
strong pipeline of sites currently in development across markets in
Ohio and Florida. The co-founders of Royal Restaurant Group
collectively have more than 60 years of combined experience in the
restaurant, hospitality and multi-unit franchise industries.
Previously the co-founders served as the CEO and Chief Operating
Officer, respectively, of one of Wendy’s largest franchise
organizations with more than 230 units throughout the United
States.
“Our deep industry experience and focus on customer service
align perfectly with Potbelly’s vision of delivering guests great
food, good vibes, and an overall exceptional experience,” said
Randy Pianin, Co-founder and CEO of Royal Restaurant Group. “We’ve
seen successful returns with the four shops we currently operate,
and we look forward to introducing Potbelly’s one-of-a-kind
offerings to hungry diners in Georgia in the years ahead.”
Potbelly has a long-term goal of reaching 2,000 shops over the
next several years, with at least 85% of those locations being
franchised, as part of the company’s Franchise Growth Acceleration
Initiative.
Potbelly is seeking additional qualified candidates for
development opportunities in other areas of the Atlanta market.
Franchising opportunities are also available in markets across the
U.S. including parts of Florida and Tennessee, Dallas, Houston and
other Texas markets, and markets in OH, VA, and PA. You can learn
more about franchise opportunities with Potbelly at
https://www.potbelly.com/franchising-why-potbelly.
About PotbellyPotbelly Corporation is a
neighborhood sandwich concept that has been feeding customers’
smiles with warm, toasty sandwiches, signature salads, hand-dipped
shakes and other fresh menu items, customized just the way
customers want them, for more than 40 years. Potbelly promises
Fresh, Fast & Friendly service in an environment that reflects
the local neighborhood. Since opening its first shop in Chicago in
1977, Potbelly has expanded to neighborhoods across the country -
with more than 425 shops in the United States including more than
80 franchised shops in the United States. For more information,
please visit our website at www.potbelly.com.
Forward Looking StatementsThis press release
may contain statements that might be considered forward-looking
statements or predictions of future operations including with
respect to the Company’s ability to successfully execute its
Franchise Growth Acceleration Initiative. Such 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 is unable to successfully execute its Franchise
Growth Acceleration Initiative and that the Company is not able to
achieve its plans for growth and expansion. Actual events may also
differ from these expectations as a result of the risks identified
from time to time in our filings with the Securities and Exchange
Commission. We assume no duty to update these statements as of any
future date.
Media Contact:ICRPotbellyPR@icrinc.com
Potbelly (NASDAQ:PBPB)
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