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<p>As part of a re-franchising program, TGI Fridays has sold 175 stores to new and existing franchisees nearly six months ahead of schedule. </p>  <p>Last September, the Carrollton restaurant chain announced a plan to offer most of its 247-company-owned restaurants to potential and pre-existing franchisees in exchange for the operators committing to a re-imaging program for the stores. The company sold a combined 38 restaurants to existing franchisees, with New Orleans-based Southeast Restaurant Group buying 20 in the southern U.S. and Atlanta&#8217;s Jackmont Hospitality buying 16 in south Florida and two in North Carolina. New franchisee groups bought the remaining stores. </p>  <p>&#8220;We felt the best long-term opportunity was to re-franchise the majority of our stores and focus on being a great brand owner. It&#8217;s about ensuring that the brand remains vibrant and appeals to consumers,&#8221; said Friday&#8217;s President and COO Ricky Richardson <a href="http://www.bizjournals.com/dallas/blog/morning_call/2015/10/tgi-fridays-completes-re-franchising-plan-ahead-of.html?utm_source=1851franchise.com&utm_medium=article&utm_campaign=tgi-fridays-rolls-out-re-franchising-initiative-2802" target="_blank" rel="nofollow" target="_blank">in a press release.</a> </p>  <p>A &#8220;restaurant refresh&#8221; is planned for 122 of the re-franchised locations in an effort to &#8220;brighten up and contemporize&#8221; the interiors and exteriors, which includes taking down divider walls between the dining room and bar area to make the bar a bigger part of the restaurant experience.</p><div>Now that re-franchising is complete, Fridays continues to look for both franchise and company-owned restaurants. The chain expects 90 percent of its growth will come from franchising.</div><div>&nbsp;</div><div>&#8220;Having successful business individuals with strong balance sheets is just a ticket to entry,&#8221; Richardson said. &#8220;We center around personality and perspective of the ownership group. It&#8217;s very much an experience brand, not a transaction brand.&#8221;</div><div>&nbsp;</div><div><a href="http://www.bizjournals.com/dallas/blog/morning_call/2015/10/tgi-fridays-completes-re-franchising-plan-ahead-of.html?utm_source=1851franchise.com&utm_medium=article&utm_campaign=tgi-fridays-rolls-out-re-franchising-initiative-2802" target="_blank" rel="nofollow" target="_blank">Read the original story here. </a> &nbsp;</div>

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The casual dining chain expects 90 percent of its growth to come from franchising.

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