Famous Dave's of America, Inc., recently announced that four of its franchisees have signed development deals to add a total of 12 new locations.
Famous Dave’s said that two of the franchisees are new to the Minnetonka-based barbecue restaurant chain, while the other two are existing Famous Dave’s owners. They will open the new restaurants during the coming three to five years, in New York, Maryland, Michigan, Ohio, and Puerto Rico.
The new deals will increase Famous Dave’s footprint by roughly 6 percent. At the end of its latest quarter, the company had 53 company-owned locations and 138 franchised restaurants in 34 states, Puerto Rico, and a Canadian province.
Florida-based developer Eric Bachelor of Bachelor Restaurant Holdings, LLC, is one of the new franchisees. He has “a variety of restaurant, real estate, and hotel ventures under his belt” and plans to open his first Famous Dave’s location in Largo, Maryland next year, the company said.
Craig Cohen, also a first-time Famous Dave’s owner, has a four-unit deal for Westchester and Rockland counties in New York. He has experience as a franchisee for two other restaurant systems, Famous Dave’s said.
Elliot Baum, owner of five Famous Dave’s restaurants in Michigan and one in Ohio, is focusing his expansion on Cleveland and Akron, Ohio, and Ann Arbor, Michigan. Jorge Colon-Geren, who has seen “record-breaking sales” after opening a Famous Dave’s in Carolina, Puerto Rico, plans to add a Bayamon location during the first quarter of next year, the company said.
“Our growth through existing partner expansion demonstrates BBQ’s viability, and the franchisees new to the Famous Dave's family show confidence in our brand’s potential,” Victor Salamone, Famous Dave’s vice president of development and franchise sales, said in a statement.
About a year ago, Famous Dave’s named a new CEO and shuffled around its C-suite. Its first-quarter profits fell 92 percent on lower revenue and higher administration costs, but the company's earnings climbed about 7.6 percent during the second quarter as sales increased.