- NNN Beast - Net Lease News Digest
- Posts
- Slim Chickens Plans to Open Over 70 Locations in 2024
Slim Chickens Plans to Open Over 70 Locations in 2024
Slim Chickens made brand history in 2023 by closing out the year with more openings than ever before.
Estimated read time: 4 minutes and 21 seconds
What’s up! Welcome back to NNN Beast, the no-cost, no-nonsense email newsletter that gets you the latest and most valuable net lease real estate news straight to your inbox.
Here’s what we’ve got for you today:
Slim Chickens Plans to Open Over 70 Locations in 2024
👋 Was this email forwarded to you? Subscribe to get it directly!
FAT BOY SLIM
Slim Chickens Plans to Open Over 70 Locations in 2024 (Read More)
Slim Chickens
WILL THE REAL SLIM CHICKEN PLEASE STAND UP: Slim Chickens has experienced 70% restaurant growth in the last three years, opened one store a week, and currently has over 250 locations.
Impressive AUV Increase: Slim Chickens achieved a remarkable 13.6% year-over-year increase in AUV, reaching $3,864,513 per store.
Expanded Footing: Slim Chickens expanded its reach through ground-up, conversions, and nontraditional locations, catering to consumer and developer preferences.
Comp Store Sales Growth: Slim Chickens has seen a robust 40% increase in comp store sales growth over the past four years.
Menu and Experience: Guests can enjoy a variety of flavors with Slim Chickens' menu, including chicken tenders, salads, sandwiches, chicken and waffles, wings, and unique sides with 17 house-made dipping sauces.
Technological Advancements: Slim Chickens stays ahead with its high-tech stack, including kiosks, AI at the drive-thru, an app, and online ordering platform.
New Development Deals: Slim Chickens signed 54 new development deals in the 4th quarter, expanding its presence in markets such as Cincinnati, Dayton, Central Pennsylvania, Louisiana, Maryland, and Texas.
Ongoing Growth Trajectory: Slim Chickens plans to open 70 locations in 2024, with over 1,200 in the pipeline and a focus on domestic and international expansion.
📝 NET LEASE BEAST SHEET
TRIPLE NET TENDIES
🧠 Thought Leader: J. Clint Jameson shares an ANB Bank re-development deal story
👂 Ear Hustle: Nick Huber interviewed on the Matthews Mentality Podcast
💎 Web Gem: Kyle Matthews shares a letter to young CRE professionals
NET LEASE NUGGIES
Tropical Smoothie Cafe Owner Exploring $2 Billion Sale - Private equity firm Levine Leichtman Capital Partners is reportedly looking to sell Tropical Smoothie Cafe for approximately $2 billion, with a sales process potentially starting as early as January. The brand, which has seen significant growth with over 1,335 units in 44 states, ranked No. 36 on this year's QSR 50 list. Despite the pandemic, Tropical Smoothie reported positive same-store sales, opened 141 new stores, and signed 166 franchise agreements in Q3 alone. (Read More)
Currito: A Growing Force in the Quick-Service Industry Thunderdome Restaurant Group, led by the Lanni brothers, has made a significant impact in the restaurant industry. Their flagship brand, Currito, offers quick, delicious, and healthy meals, which resonate with customers seeking nutritious options. With a focus on strategic growth and franchising, Currito plans to double its size in the next few years. (Read More)
A major Las Vegas-based McDonald’s franchisee opened its 47th restaurant in September, its 27th year with McDonald’s. WBF Management, led by Mark Watson and his sons-in-law Brent Bohn and Brett Brigham, operates mostly in the Las Vegas area with some stores in Phoenix. The family franchisee group has experienced growth through acquisitions and new store openings, and aims to create a family environment for its employees. (Read More)
Pinstripes Goes Public, Begins Trading on NYSE Pinstripes Inc., a dining and entertainment brand known for its large venues, has successfully closed its business combination with Banyan Acquisition Corp. The Northbrook-based company, which offers bowling, bocce, and Italian-American cuisine, now trades publicly under the ticker symbols PNST and PNST WS. Pinstripes raised over $70 million to support expansion plans and secured a $50 million loan from Oaktree Capital Management. (Read More)
BEAST TWEETS x POSTS
🐦 Sieva Kozinsky: The Patels built a $52 Billion motel empire in 70 years..…
🦅 Ben Little: I made a list of Q3 comp sales for all publicly traded restaurants...…
🦢 Jared Dillian: Here's one of the craziest stories I've ever heard in finance...…
🦆 Zero Hedge: $34.001 TRILLION. We are now exponential .…
VISUAL OF THE DAY
@zerohedge
🚨Was this email forwarded to you? Subscribe to get it directly! 🚨
Also, if you’d like to share today’s newsletter on LinkedIn or Twitter, please scroll to the very top right of this email and click the link titled “Read Online” 📢