Flynn Restaurant Group Acquires Planet Fitness Franchise, Expands Beyond Restaurants

Flynn Restaurant Group, the largest franchise operator in the world, makes a significant move into the fitness industry with the acquisition of a highly-successful Planet Fitness franchise.

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  • Flynn Restaurant Group acquires successful Planet Fitness franchise from Alder Partners in a move to diversify outside of the restaurant space

  • Slim Chickens expands with new restaurant openings in North Carolina

  • CVS reports stronger-than-expected Q3 earnings and revenue growth

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KING OF FRANCHISE

Flynn Restaurant Group, the largest franchise operator in the world, has made its first foray into an adjacent sector outside of the restaurant space with the acquisition of a highly-successful Planet Fitness franchise.  (Read Here)

Flynn Restaurant Group (now Flynn Group)

Diversification into fitness: Flynn Restaurant Group, known for its successful restaurant brands, identified the fast-growing consumer fitness category as a primary target for expansion. The acquisition of a Planet Fitness franchise with 37 locations in Atlanta and Boston marks its entry into the fitness sector.

💰 THE MONEY SHOT

Growth opportunities: With leading positions in recognized consumer brands, Flynn Group aims to tap into new complimentary markets at scale. The acquisition of Planet Fitness is part of Flynn Group's strategy to leverage its expertise in operating multi-unit and multi-state consumer-facing franchised businesses. Flynn Group operates the following brands: Applebee’s, Taco Bell, Panera Bread, Arby’s, Pizza Hut, Wendy’s, and now Planet Fitness.

BICKEN BACK BEING BOOL

Slim Chickens, a leading fast casual franchise with over 250 locations, known for its hand-breaded, cooked-to-order tenders, has announced the opening of two new restaurants in Concord and Jacksonville, North Carolina. (Read Here)

Slim Chickens

Growing presence: The new Concord restaurant marks the fourth location for Break Bread Ventures and the first for Fly the Coop in Jacksonville. Slim Chickens has opened more than 250 locations and has over 1,150 locations in development, demonstrating its success and popularity among customers.

💰 THE MONEY SHOT

Continued growth: Over the past two years, Slim Chickens has experienced a 60% increase in restaurant growth, reaching over 250 locations. Additionally, the brand has seen a remarkable 13.6% year-over-year increase in average unit volume (AUV), with over 1,150 signed agreements in the pipeline. Slim Chickens is targeting both national and international markets for future expansion.

STREET PHARMACIST

CVS Health Corp. exceeded expectations with its third-quarter earnings and revenues, driven by growth in all segments, particularly health services. (Read Here)

CVS Health Corp.

Revenues on the rise: Total revenues increased by 10.6% to $89.764 billion, surpassing estimates of $88.287 billion. The growth was fueled by CVS's health services segment, where revenues rose by 8.4% to $46.891 billion.

💰 THE MONEY SHOT

Strong performance across divisions: The pharmacy and health wellness segment saw a 6.0% increase in total revenues, reaching $28.872 billion, while the health care benefits segment experienced a substantial 16.9% revenue growth, amounting to $26.296 billion.

TRIPLE NET TENDIES

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NET LEASE NUGGIES

  • Chicken Salad Chick is adding a sweet touch to its offerings through the acquisition of Atlanta-based Piece of Cake. With 10 stores in the metro-Atlanta area, Piece of Cake specializes in hand-frosted cakes made from scratch using traditional family recipes.

  • Craveworthy Brands partners with C3 to franchise Soom Soom, an emerging Mediterranean fast-casual brand. With plans to sign 100 franchise agreements in 27 states, Soom Soom aims for national expansion and growth.

  • Hold Steady: Federal Reserve keeps rates unchanged, signals potential future increases. The Fed Chair, Jerome Powell, emphasized the importance of returning inflation to 2% and acknowledged the possibility of further tightening measures in the future. The decision is seen as a signal that the Fed is closer to the end of the tightening cycle.

  • Wingstop's Personalization Push: The fast casual is testing a proprietary system that will personalize communication and should lead to greater frequency and retention. Wingstop is leveraging its robust database of 35 million users and a record digital mix of 67 percent to deploy an increased level of hyper-personalization.

  • Savory Fund Invests in Houston TX Hot Chicken: Savory Fund announces its strategic investment in Houston TX Hot Chicken, a popular hot chicken restaurant with 11 locations across six states.

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