Crafthouse Secures $250M Investment to Expand
Crafthouse, a Virginia-based eatery known for its “Eat Local, Drink Local, Support Local” philosophy and a dedication to local craft beer, bourbon, scotch, wine and spirits, has secured over $250 million dollars of funding to expand the brand nationwide. In addition to in-line or end cap locations, this development agreement with American Development Partners provides qualified franchisees with 100 percent financing to develop freestanding buildings for Crafthouse restaurants.
American Development Partners' primary role will be to aid in the development of new locations, facilitate the acquisition of land and oversee construction of over 100 new Crafthouse franchise locations within the next five years.
“As a former franchisee myself who knows what it takes to succeed in the restaurant industry, it’s very gratifying to create this opportunity for other business owners to have access to the financing and real estate guidance they need to make their dream a reality,” says Evan Matz, founder and CEO of Crafthouse Franchising LLC. “We are thrilled to team with American Development Partners to bring Crafthouse’s community-minded appeal to neighborhoods all over the country.”
Matz opened three Crafthouse restaurants in Northern Virginia (Fairfax, Arlington and Reston) in May 2017 and has built a loyal and enthusiastic following. Keys to success for the restaurants include creating a welcoming atmosphere with a hands-on operating team and a commitment to using local ingredients and vendors as much as possible.
“Crafthouse’s ability to make each restaurant unique to its community while also featuring a core menu of signature favorites is impressive, and Evan is a seasoned, successful operator with an inspired vision for the brand,” says Caleb McMillen, COO of American Development Partners. “From our first conversation with him, we immediately began creating a five-year plan for Crafthouse’s development. The decision to get behind such an amazing individual and business was an easy one for us.”
The Crafthouse drink menu features 50 craft beers on tap and an additional 150 in bottles and cans that represent the best of local, regional and national brews. In addition to the great selection of beer, there is an impressive wine list and over 45 different bourbons, scotches and whiskeys. Each Crafthouse restaurant features the brand’s signature menu items, such as the colossal-sized Bavarian pretzel with house-made beer cheese, Crafthouse tacos and juicy burgers, alongside local and regional dishes customized for that community.
Ranging in size from 3,900–4,500 square feet with dining room and patio seating for approximately 150 guests, Crafthouse restaurants also cater to private events and corporate meetings. Lunch, dinner and weekend brunch, happy hour and weekday specials give multiple reasons to come by any day and night of the week. Large-screen TVs and game day specials make it the perfect place to watch all the sports action with friends and family. In fact, Crafthouse was named “Best Sports Bar for Football Fans” by Arlington Magazine.
Franchise candidates should have at least $300,000 in liquid assets and a net worth over $1 million. Food and beverage industry experience is preferred, along with a background in business ownership and experience managing employees.