Real Estate
As of Mar 28, 2017, the company operated 178 restaurants in 10 states, including 13 franchise locations.
In fiscal 2016, 26 company-operated restaurants were opened as well as 5 franchised locations. The company opened 6 stores systemwide in the first quarter of fiscal 2017. In fiscal 2017, the company expects to open 31 to 33 company-operated restaurants and 5 to 7 franchised/licensed restaurants.
All restaurants are leased. Initial lease terms are generally 10 years, and include the option to renew for two additional 5-year terms.
The company operates a variety of restaurant formats, including end-cap, free-standing, inline and drive-thru, primarily within suburban shopping centers and retail settings. The average restaurant size is between 2,000 and 2,800 square feet.
| TTM | 2016 | 2015 | 2014 | 2013 | 2012 | |
|---|---|---|---|---|---|---|
| Company-operated restaurants | 165 | 162 | 137 | 109 | 85 | 63 |
| Company-operated restaurant growth | 17.9% | 18.2% | 25.7% | 28.2% | 34.9% | 37.0% |
| Franchised restaurants | 13 | 10 | 5 | 1 | 0 | 0 |
| Franchised restaurant growth | 160.0% | 100.0% | 400.0% | N/A | N/A | N/A |
| Systemwide restaurants | 178 | 172 | 142 | 110 | 85 | 63 |
| Systemwide restaurant growth | 22.8% | 21.1% | 29.1% | 29.4% | 34.9% | 37.0% |
| Avg restaurant gross sq ft | 2,300 | 2,300 | 2,300 | 2,300 | 2,300 | 2,200 |
| Avg restaurant gross sq ft growth | 0.4% | 0.4% | 0.7% | 0.9% | 1.4% | 2.0% |