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Restaurant franchise companies (franchisees) are the driving force behind the growth of many restaurant chains in both limited- and full-service sectors. Pizza Hut, Burger King and Applebee's are a few of the many brands that have thrived from franchising.
Franchisees have also been appetizing ventures for private equity and hedge fund investors. Within the last year, several companies were taken over by such firms, including the largest franchisee-NPC International, Inc. by Merrill-Lynch Global Private Equity Group.
A new industry report from foodservice consultants Technomic provides detailed reporting and analysis of the 200 largest restaurant franchise organizations. 'Anyone interested in understanding the franchisee terrain and leveraging opportunities for growth will benefit from this new report,' explains Darren Tristano, Executive Vice President of Technomic Information Services. It explores the leading 200 franchise companies, the brands behind them, unit and sales growth-and outlines trends and opportunities within various regions, restaurant segments and chain brands.
The fastest-growing franchise companies achieved their growth through both increased average unit volumes as well as through acquisitions. ACF Companies, for example, had the highest sales growth in dollars with a total of $95.5 million, largely fueled by the purchase of 165 Pizza Hut restaurants that occurred over several transactions during 2006. On a percentage basis, R & L Foods experienced the greatest sales increase, growing an impressive 91.7%.
In addition to detailed reporting on franchise organization composition and performance, as well as menu segment and regional coverage, the 2007 Technomic Top 200 Restaurant Franchise Company Report also provides comprehensive appendices that list the Top 200 restaurant franchise companies alphabetically and by sales, as well as detailed concept listings. A complete listing of franchise company contacts is also provided in the appendix of this report. To purchase or learn more, please visit www.foodpubs.com.
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WESTBOROUGH, Mass.-Tibersoft, the leading provider of trading partner intelligence solutions for the foodservice industry, announced that Perkins Restaurants will rollout the Tibersoft IQ solution across all their 480 locations. The Restaurant Company, Operator and Franchisor of Perkins Restaurants, recently acquired Marie Callender's Pie Shops, Inc. and will expand that already successful Tibersoft rollout thus creating one enterprise view into the total company's spending and supplier contracts. In August the Restaurant company changed its name to Perkins and Marie Callender's Inc.("PMCI").
PMCI chose Tibersoft because of the measurable ROI and ease of use as demonstrated at Marie Callender's over the last year. The combined visibility to all procurement activities in less than 48 hours will help maximize operational efficiencies across their growing multi-concept organization.
PMCI Executive Vice President of Foodservice, James F. Barrasso explained that "the combined companies now represent $1.2 Billion in sales and over $300 million in procurement. The Tibersoft solution will allow us to understand our business better."
Tibersoft CEO Keith Enstice attributes this decision as another vote of confidence in Tibersoft's solid service to its clients. "We look forward to further enhancing our relationship with Perkins and Marie Callender's Inc. as an operational strategic partner."
About Perkins and Marie Callender's Inc.
Perkins and Marie Callender's Inc. is based in Memphis, TN. Perkins has 480 company-owned and franchised locations in 33 states and five provinces of Canada. The acquisition of Marie Callender's was completed in May 2006. Marie Callender's has 138 company owned and franchised restaurants in 10 states, primarily in West and Southwest.
About Tibersoft Corporation
Tibersoft acquires, manages and delivers timely, accurate product movement information between trading partners within the foodservice industry. Tibersoft also aids the contracting process with contract capture, contract compliance automation, and rebate tracking automation. This grows tighter and more transparent relationships between trading partners thus improving "Trading Partner Intelligence."
Tibersoft's data management and analytical services are helping leading operators including The Cheesecake Factory, Buffets, Inc., ARAMARK, Five Star, Marie Callender's, Valley Services, Delaware North Corporation and dozens more to lower food costs and leverage their purchasing activity.
These same technology services are also making it possible for their Manufacturer clients to enjoy greater visibility into the sale of their products to key Operators through their Distributors. The quality and accuracy of this information enables the Manufacturers to optimize their sales, control trade spending and reduce contract compliance problems.
For more information, please visit www.tibersoft.com.
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In 2004, more than 57,000 business licenses were issued for new restaurants nationwide. Applying for a business license is often the first step that turns a restaurant dreamer into a restaurant owner. "Restaurant Startup & Growth" magazine tracks these statistics since the magazine is written exclusively for this entrepreneurial group.
"We estimate that three-fourths of the new restaurants that opened in 2004 are independent units, not chains," says Restaurant Startup & Growth Co-Publisher Gary Worden, a successful restaurateur himself. "And, according to research, 58 percent of restaurant dollars spent go to independents and small chains."
Restaurant startups basically reflect the population of each state, according to the magazine's research. California leads the country in both population and restaurant startups, followed by Texas, Florida and New York. The other states in the top 10 for restaurant startups are Illinois, Pennsylvania, Ohio, Georgia, North Carolina and New Jersey.
And where are the fewest startups? Vermont, District of Columbia and Wyoming rank in the last three spots when it comes to startups. Even in last place, though, Wyoming issued 78 new restaurant business licenses for 2004.
Poor management and lack of expertise account for more than half of new restaurant failures. That's where Restaurant Startup & Growth comes in. Past articles have covered tax depreciation, garbage management, children as guests, leases, floor plans, food costs, menu design and more. Each issue contains basic information on marketing techniques, human resources and legal issues, and financial management.
Worden is confident that the back-to-basics information the magazine presents will help lower the failure rates for new restaurateurs. "I wish I had this magazine as a resource when I opened my first restaurant," he says. "The restaurant is a success, but I could have saved myself a lot of money."
In fact, new restaurateurs spend money in disproportionate amounts to established restaurants, according to Worden. Restaurant consultants estimate the average startup cost for a new restaurant to range from $250,000 to $500,000. "That's more than $13 billion of new money coming into this dynamic industry, and we want to make sure our readers spend that money wisely," he says.
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