Smashburger is the fastest three-year start for a restaurant company – in history – to almost $135 million in system wide sales. Dave Mead with ACG Denver recently spoke with Smashburger CEO Dave Prokupek about the appeal and trajectory of the company in the midst of the worst recession in a generation. He will be among the featured speakers on April 27-28, 2011 at the Rocky Mountain Corporate Growth Conference.
Why would someone invest $20 million in a new hamburger chain?
While it might seem, illogical, we saw several factors that made this business very appealing. First, research showed that while the hamburger was America’s favorite food, people were dissatisfied. There was opportunity in the ‘better burger’ category – a segment which is projected to double over the next decade. Second, we saw an opportunity for a disruptive innovation with a new restaurant model that we believe will be the model of the coming decades. The model has a small footprint (about 2,000 square feet), sit-down service, good food, beer and wine service, and fast service (average 23 minutes).