The Sizzler steak chain is expanding again as America’s hunger for steak grows. Two closed locations are in the process of remodeling for re-opening later this year, and four new locations will soon be opened across the country. 14 existing locations also improved their décor with a new Americana inspired theme in the last year and a half.
Burger King upset a lot of their franchisees with their implementation of a Value Menu that ended up costing many locations more than they were making. Burger King was acquired by the 3G investment firm for over $4 billion only six months ago. To settle with the franchisees, the company has agreed to a settlement that will distribute no money but will keep the double cheeseburger at a menu price at least 10 cents over its cost.
If you have tried to start your own restaurant, you may already know how challenging it is to secure financial backing. Banks consider new restaurants to be risky start-up businesses and deny them funding. Starting with a proven franchise restaurant is a good way to gain the trust of a lender, as well as looking for banks that are SBA approved. Having good collateral also helps.
New York City citizens can enjoy a free taste of Korean food thanks to a new mobile kitchen food truck sponsored by the Korean Food Foundation. Visitors to the Bryant Park borough can get their free food from the truck through May 20 on weekdays between 11 am and 2 pm. Each day will feature a new Korean dish to expose guests to the variety and tastes of the country’s cuisine.
Newk’s Express Cafe signed a new agreement that will develop 24 new franchise locations. Four groups plan to open the restaurants in Georgia, Louisiana and Florida. Newk’s is a fast casual chain created by the McAlister’s Deli founders. A partnership with Franchise Dynamic helped the chain find the franchisees.
The already thin profit margins most restaurants maintain are slowly being eroded by rising fuel and food costs. Combined with three years of declining visitors due to the recession, many restaurants have gone into bankruptcy or closed completely. Each delivery of supplies incurs an additional surcharge in many states as gas climbs to nearly $4 a gallon.
May is National Hamburger Month, and to celebrate Red Robin Gourmet Burgers is looking to elect a Chief Burger Officer, or CBO. The winner of the CBO contest will take a trip to company headquarters and learn how the test kitchens come up with their winning recipes. Red Robin branded gifts and free burgers for a year will also be awarded as job perks.