Texas Roadhouse turns to spinoffs to beef up growth | TGI Fridays reduces debt with sale of licensing arm | Burgerville to ramp up growth with new investors
Texas Roadhouse is in growth mode with two spinoff concepts, sports bar Bubba's 33 and quickservice chain Jaggers. Bubba's, which turns 11 this year with fewer than 50 units, has four new locations slated to open this year and additional units in the pipeline, and Jagger's is on track to grow with both company-owned and franchise locations, including a franchised unit slated to open in South Korea this year.
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TGI Fridays sold a licensing business to Kraft Heinz last week and used the proceeds to reduce debt by paying off $137 million in bonds. The company expects to refinance its remaining securitized debt when its planned merger with franchisee Hotsmore closes later this year.
An investor group has taken an equity stake in Vancouver, Wash.-based Burgerville, with plans to rev up regional growth at the 39-unit fast-casual chain. Former Dutch Bros CEO Joth Ricci is one of the investors and will join Burgerville as executive chairman, and CEO Ed Casey will remain at the helm as the company moves forward with plans to add up to 10 new units this year.
Salad and Go has hired registered dietician Maya Feller to fill the new role of salad nutrition officer, where she will work with the quickservice chain's chef, Daniel Patino, to educate consumers and help them make healthier choices. The pair has created a video series to dispel myths and misconceptions around food and nutrition.
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Former mixed martial arts fighter Keith Lee's status as a social media restaurant reviewer with a combined 18 million followers on TikTok and Instagram has been a boon for restaurants that have won his blessing. His influence, dubbed "The Keith Lee Effect," has led to paid promotions for Lee with major chains including Chipotle Mexican Grill, Domino's and Wingstop.
Jon Taffer's in-your-face "Bar Rescue" isn't evident in the celebrity's full-service Taffer's Tavern concept, whose two franchised units are designed to recreate a convivial-yet-upscale pub atmosphere that depends on human connections. The eateries also employ innovative technology like sous vide cooking techniques to do more with fewer kitchen staffers.
An organization that created an anonymous, online "Ask the Executive Leadership Team" tool was surprised when employee engagement rates increased but the quantity of concerns didn't decrease correspondingly. "[O]ne day, it struck me that [a]ddressing culture never ends ... [and] continually advancing the organization was my job," writes Suzanna de Baca, president of Business Publications, who noticed that the feedback kept getting more discerning -- and typically centered on belonging.
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RO Restaurant & Lounge reopened this week in Yountville, Calif., and instead of its previous incarnation as a champagne and caviar lounge, it will focus on Asian-inspired flavors with chef Jeffery Hayashi creating dishes inspired by his Hawaiian upbringing. "We've listened to our guests looking for a local spot that highlights some of the best Asian flavors," said chef Thomas Keller, the owner of RO.
Harris' Restaurant in San Francisco, founded in 1984 by actress Ann Lee Harris, celebrates four decades of serving dry-aged steaks. The dry-aged process, which takes up to four weeks, allows for a tender steak and a glass case showcases the cuts of meat, said executive chef and owner Michael Buhagiar.
I think it's one of those beautiful, weird things that happens in nature. So, it's just a sign of the fact that things are continuing, things are living and things are thriving.
