Back Yard Burgers CEO David McDougall and his team have been working hard to get the chain back on track. Now, with same-store sales having grown 9.3 percent in the first half of this year, they have contracted with SMB Franchise Advisors to add to their 68-unit store base. Pennsylvania-based SMB has in the past helped dining brands Wing Zone and Go Bananas Frozen Yogurt, among others.
“We chose to work with SMB because they know how to design franchise-development blueprints that get results. Our goal is to have development plans in place by the end of the 3rd Quarter and begin signing new franchisees and opening new restaurants in 2015,” Chief Executive Officer David McDougall said.
SEE ALSO: Ship righted, Back Yard CEO eyes growth initiatives from April
Matt Rogers reports that Bartaco, a casual street food concept from a restaurant group out of Connecticut, has committed to leasing space in the 12 South Center under construction at the corner of 12th and Montrose avenues. Local developer Paul McRedmond early this year broke ground on the three-story 12 South Center.
Pie Five Pizza Co. will open the first of 10 planned locations in Nashville Friday, July 11, in The Crossings, located in Donelson at 2266 Lebanon Pike.
Pie Five is a subsidiary of The Colony, Texas-based Pizza Inn Holdings, Inc., an owner, franchisor and supplier of more than 275 restaurants operating domestically and internationally. Middle Tennessee is home to three Pizza Inn eateries (though none in Davidson County).
The “five” in Pie Five — which the company brands as fast-casual — is a reference to the pizza being made in no more than five minutes. Four crust options and one set price are other defining characteristics of the pizza.
Last November, Pie Five awarded 10 franchise units to Nashville-based businessmen Rich Davis and Ron Payne, according to a release.
“Of course, the first thing you notice about Pie Five is the cool look and feel of the restaurant,” Davis, a consultant and entrepreneur/restaurateur who previously brought the Schlotzsky’s brand to Nashville, said in the release. “Then you see how fresh our ingredients are and how quickly we can make your own delicious, customized pizza. Ron and I have been eagerly anticipating this moment for the last several months, and we can’t wait to introduce Pie Five to the Volunteer State.”
Pie Five Pizza has been named among Fast Casual.com’s 2014 Top 15 “Movers & Shakers,” a 2012 Hot Concepts winner by Nation’s Restaurant News and one of “10 Hot New Restaurant Chains from Established Brands” by Forbes.com.
With the Nashville opening, the company will have 21 locations in seven states (Florida, Kansas, North Carolina, Tennessee, Texas, Utah and Virginia) with more than 170 announced franchise units under contract in 11 states and Washington, D.C.
Argus Research analyst John Staszak downgraded his rating on Cracker Barrel Old Country Store to 'hold' from 'buy,' based on slow industry growth and rising commodity costs. Staszak did not change his price target on the company's shares (Ticker: CBRL), which on Wednesday were down to $98.48.
The majority owner of Nashville-based restaurant holding company American Blue Ribbon Holdings has run into some headwinds in trying to carve out that business and others not related to its main real estate insurance companies. Fidelity National executives early this year announced their plan to spin their non-core assets — which also includes investments in Ceridian and Remy — into a separate structure with its own tracking stock. On Monday, they issued a lengthy statement restating their case in the face of negative recommendations from proxy advisors ISS and Glass Lewis. Shareholders will have their say next Wednesday.