Chicken Salad Chick Eyes 2,000 Units, Seeks to Surpass Applebee's and IHOP

Estimated read time: 4 minutes and 16 seconds

TOSSING SALAD

Chicken Salad Chick Eyes 2,000 Units (Read More)

Brand Potential: Chicken Salad Chick sees early success, eyeing substantial growth with a goal of becoming a 2,000-unit brand, reaching the ranks of Panera and Waffle House.

Expansion Plans: Chicken Salad Chick is expanding to New Mexico and opening units in Iowa, Nebraska, and Kansas within the next 12 to 18 months. Entry is targeted in several other states.

Same-Store Sales: The company has experienced consistent same-store sales increases, with $1.5 million AUVs ($500,000 higher than 2016) and a 6% compound annual growth rate.

Innovation: Chicken Salad Chick introduced hot menu items like the Chick Melt sandwich and leverages its chicken salad base for limited-time flavor rollouts.

Quick Chick Menu: The "Quick Chick" menu offers grab-and-go items in a refrigerated section, accounting for 20-25% of the business.

Channel Mixes: Chicken Salad Chick's channel mix includes dine-in, drive-thru, takeout, third-party delivery, and catering (experienced 15% YoY growth in 2023).

Dessert Expansion: The brand acquired Piece of Cake bakery and integrates its desserts into restaurants, providing a 3% product mix and higher profits for franchisees.

Loyalty Program: Chicken Salad Chick plans to revamp its loyalty program to enhance the user experience, personalization, and franchisee promotional capabilities.

Optimistic Outlook: With a proven track record of success, Chicken Salad Chick is optimistic about its near and long-term potential for growth and brand differentiation.

TRIPLE NET TENDIES

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NET LEASE NUGGIES

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• BurgerFi receives delisting notice from Nasdaq BurgerFi, the better burger brand, has received a delisting notice from Nasdaq after failing to meet the minimum stock price requirement. The chain has six months to regain compliance by closing at or above $1 per share for 10 consecutive days. Despite efforts to turnaround the business, BurgerFi's same-store sales dropped 9% in Q4 and 7% in fiscal 2023. The company aims to achieve positive same-store sales and EBITDA in the second half of 2024. (Read More)

• Soapy Joe's expands with two new carwash locations. Soapy Joe's Car Wash announced the opening of two new express wash locations in San Diego. The 22nd location is in Santee, while the 23rd is in Chula Vista. With a commitment to supporting the community, the company has donated over $2 million to local organizations. WOW Carwash also plans to expand with six new locations in Las Vegas, while other carwash brands like Silverstar and Zax continue to grow in different locations. (Read More)

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