As of Mar 26, 2017, the company operated 413 restaurants in 29 states and the District of Columbia, and there were 36 domestic and 15 international franchised restaurants.
In fiscal 2016, the company opened 40 new restaurants and closed 2 existing restaurants, while franchisees opened 10 new restaurants and closed 2 existing restaurants. During the first quarter of fiscal 2017, the company opened 10 net new restaurants, 8 of which came from franchisees. In fiscal 2017, the company expects to open 45 to 60 new restaurants, including 30 to 40 company-operated restaurants. Long-term, the company plans to grow the number of Potbelly shops at least 10% annually.
All shops are leased. Initial lease terms are generally 10 years, with the majority of leases providing for an option to renew for two additional 5-year terms.
Shops average approximately 2,300 square feet, with seating for 50 to 60 guests. For new openings, the company targets locations between 1,800 and 2,500 square feet, and will consider a wide variety of shapes in a wide variety of areas, including in urban central business districts and suburban areas near shopping malls or other high-traffic locations.
|Company-operated restaurant growth||9.5%||10.5%||11.4%||12.8%||12.1%||12.8%|
|Franchised restaurant growth||34.2%||19.4%||24.1%||26.1%||53.3%||87.5%|
|Systemwide restaurant growth||11.8%||11.3%||12.4%||13.8%||14.3%||15.3%|
|Avg restaurant gross sq ft||2,300||2,300||2,300||2,300||2,300||2,300|
|Avg restaurant gross sq ft growth||0.0%||0.0%||0.0%||0.0%||0.0%||0.0%|
Notes:Reflects systemwide figures, including company-operated and franchised restaurants