Beef ‘O’ Brady’s Reports Strongest Quarter in 30-Year History
Beef ‘O’ Brady’s, a family-friendly sports bar and restaurant franchise, entered the second quarter of 2018 poised with rapid growth momentum. The brand has undergone a number of strategic changes within the last 12 months, including an entirely refreshed brand image, renovations to existing locations and a revamp of the menu. Leading the charge is CEO Chris Elliott, who has focused on modernizing the concept while staying true to its roots since he was hired in 2010.
While restaurant industry traffic has been steadily declining, down by more than 2.7 percent in Q1 of 2018, Beef ‘O’ Brady’s has tightened up its operations and launched new value offerings to make the first quarter of this year the strongest in the company’s 30-year history. The brand reported a system-wide revenue increase of 4.3 percent for same-store sales and restaurant traffic was up 2.1 percent in the first quarter of 2018.
“As a brand, we’ve been committed to launching new value offerings for our loyal customers. We know that the majority of our guests are families and we want to ensure we’re offering them some of the most affordable deals in the industry,” says Heather Boggs, chief marketing officer of Beef ‘O’ Brady’s. “But, we also wanted to find a way to drive traffic for our franchisees during periods that were traditionally slower, like a Monday evening for example. Finding a way to accomplish both goals has proven to be an effective strategy.”
To continue strengthening its position as a franchise organization, the parent company of Beef ‘O’ Brady’s, FSC Franchise Co., has been purchasing existing franchisee-owned locations, renovating these stores and hosting grand reopening celebrations to encourage new customer acquisition. Between 2017 and 2018, the team purchased 16 locations throughout Florida with four additional transactions expected to close before the end of the year, making FSC Franchise Co. the largest Beef ‘O’ Brady’s franchisor in the system.
“We have a rich history in Florida and are constantly working to enhance the brand’s image in our home state,” says Elliott. “Over the past few years, we have taken great strides to become more innovative and competitive in order to fuel our system’s growth. This was a clear step in the right direction and has allowed us to become an even more invaluable asset to our franchisees.”
The corporate-owned locations have also been the testing sites for some of Beef ‘O’ Brady’s latest initiatives, which have included new product rollouts and store branding. These locations reported an increase of 8.1 percent comp sales and a 4.9 percent increase in traffic—a great sign of what’s to come for Beef ‘O’ Brady’s once they launch these projects nationwide.
But even with these corporate development initiatives, Beef ‘O’ Brady’s has continued to welcome new franchises to its growing system. So far, the brand has locations slated to open in Panama City Beach, Florida; Beaver Dam, Kentucky and Abingdon, Virginia before the end of the year. The development team is also looking for franchisees to open new locations throughout Florida in key markets like Miami and Daytona.
“While we have an established presence in Florida, the market remains a top priority for us because we believe Beef ‘O’ Brady’s can continue to grow and thrive here,” adds VP of Development Jamie Cecil. “We’re excited about the opportunity to bring our family-friendly concept to new markets and are looking for franchisees who want to become a part of that vision.”