The iconic chain bursts into 2018 with continued double digit sales growth
Fort Lauderdale, FL (RestaurantNews.com) Miami Grill® sizzles like South Beach due to an aggressive growth strategy that keeps fueling franchise expansion. The brand continues to transition to the upscale, fast casual format of Miami Grill®, with a South Beach vibe and an “Everything Goes®” menu.
Franchisee owners gathered in April for the semi-annual Town Hall meeting and celebrated the outstanding financial results of 2017 and Q1, 2018. The meeting, which had record attendance is a testament to the dedication being put into the brand by both corporate and their franchisees. As presented by Melanie Satisky, the company’s CFO, first quarter comparable restaurant sales and transactions continue to produce record level results for the fast casual chain. The momentum of 2017 has continued into 2018 with sales and transactions at a blistering pace in 2018.
According to Black Box Intelligence, a financial performance benchmark company for the restaurant industry, the industry’s same-store sales were up eight-tenths of a percent in March and transactions were down 2.1 percent. By comparison, Miami Grill® experienced a 10.9 percent positive same-store swing and a 10 percent increase swing in transactions for the same period.
First Quarter results for the restaurant industry for same-store sales were up slightly at one-tenth of a percent and a decline of 2.7% for transactions. By contrast, according to Satisky’s presentation, Miami Grill® saw a staggering 14.2 percent same-store positive sales swing and an impressive 12.5 increase in transactions. Equally impressive for Miami Grill® is same-store comparable sales have been positive in 52 of the last 54 months.
According to Richard Chwatt, Miami Grill’s CEO & President, “Our continued emphasis on upscaling and enhancing the brand, restaurant renovations, strong restaurant operations, strategic marketing campaigns, leading edge technology and a growing partnership with UberEats as well as other 3rd party delivery companies has all resonated with our guests and resulted in our stellar performance.”
Miami Grill’s partnership with UberEATS has contributed an 11 percent incremental revenue stream system-wide. Check averages for UberEATS are 40 percent greater than current guest check averages, far surpassing Miami Grill’s financial goals for the delivery platform.
The brand has continued to expand both domestically and internationally with a concentrated development targeted to Central and North Florida, where the chain recently entered the Jacksonville market. Restaurants are under construction at the Standard/University of Florida, Gainesville, One Daytona, Orlando and Green Acres.
About Miami Grill®
South-Florida based Miami Grill® is the hottest fast casual concept to hit the market, developed by the same owners as Miami Subs, Miami Subs Capital Partners 1, Inc. and key equity partner, Armando Christian “Pitbull” Pérez. Miami Grill® and its “Everything Goes®” concept embody the taste and sensations of South Beach and provide a diverse menu unlike any other chain in the category. For franchising and other information, visit www.miamigrillfranchise.com and www.mymiamigrill.com.