Potbelly Sandwich to Issue Initial Public Offering
Chicago-based sandwich purveyor Potbelly Corp recently filed with the U.S. Securities and Exchange Commission to raise money through an initial public offering. Reuters reports that Potbelly is attempting to raise up to $75 million through the IPO. Bank of America, Merrill Lynch, and Goldman Sachs are all amongst the underwriters for the IPO, listed in a preliminary prospectus given to the SEC. Maveron Equity Partners is the largest single shareholder of Potbelly, owning over 28 percent, with ASP PSW LLC and Oak Investment second and third. Potbelly, which currently operates nearly 300 locations throughout the US and opened its first location in 1977, reported profits of $24 million and revenue of $274.9 million in 2012. One of the best sources for details on the the health of the potbelly franchise system, its unit growth, and its expansion plans is a review of the Potbelly Franchise Disclosure Document, which can be found here.
Dickeys Barbecue Pit Announces Expansion Plans Within New York State, Adding Two Stores in Buffalo, NY
(Buffalo, NY) Dickey’s Barbecue Pit is expanding to Upstate New York with a development agreement just executed to open two new stores in Buffalo. Currently the closest Texas-style barbecue is over three hours’ drive away, and the new restaurants will provide a new Fast Casual concept to the city overflowing with wings and pizza. The first new location will open by the end of 2016 with the second opening in 2017. Location sites are in the process of being selected.
From Boots to Barbecue: Man Opens Dickey’s Barbecue Pit in Las Vegas
“I fell in love with the Dickey’s Barbecue concept and I can’t wait to meet our guests and serve them great barbecue,” said first time franchise owner, John Schouten. “I’m also looking forward to moving to Las Vegas where I have my parents and older brother nearby.”
Interview with Alan Hixon, President of MOOYAH Burgers, Fries, & Shakes
MOOYAH doesn’t skimp on quality, and only uses the highest quality meats, cheeses, and vegetable toppings. With baked fresh buns and Dreyer's Ice Cream used for the shakes, MOOYAH doesn’t want to offer the customers anything less than top quality for their money. In fact, MOOYAH uses the following brand names, Ketchup: Heinz; Mayo: Hellman's; Mustard: French's; BBQ Sauce: KC Masterpiece; Ranch: Hidden Valley; Buffalo Sauce: Frank's Original, A1 Sauce, and Cholula Sauce.