San Diego-based fast-casual Mexican chain QDOBA announced plans to double the number of restaurants over the coming decade, with as many as 80 new locations opened each year.
The company, which spun off from Jack in the Box in 2018, now has 750 restaurants in 45 states. It plans to add 40 this year, 60 in 2024 and 80 annually beginning in 2025.
“QDOBA is an exceptionally well positioned brand in one of the most attractive restaurant categories. We possess long-standing momentum, strong unit economics, a compelling operating model, an extraordinarily passionate guest following, and significant untapped geographic potential,” said John Cywinski, CEO of Modern Restaurant Concepts, QDOBA’s parent company.
“We are in the process of aggressively accelerating new restaurant development in partnership with existing and new franchisees. Once our pipeline is fully established, we expect to sustain a 10% annual growth rate through new restaurant development,” Cywinski added.
As an example, he cited North Fork Fresh Mex, which operates 97 QDOBA restaurants in Missouri, Illinois, Indiana, Kentucky and Virginia. North Fork has committed to build 73 new restaurants over the next seven years and is now QDOBA’s largest franchise partner.
QDOBA said it has posted 10 consecutive quarters of positive sales growth, with average restaurant volumes of $1.6 million. In addition, for the fifth consecutive year QDOBA has been voted the “Best Fast Casual Restaurant” as part of the USA TODAY 10Best Readers’ Choice Awards.
Source : Times of San Diego
