The Brass Tap has been undergoing a number of strategic changes in the first three quarters of 2017 – from a recent company sale to plans for a revamped store design and brand image. The concept is now redefining its growth strategy to close out 2017 and enter 2018 by refocusing on what has driven success thus far, localization.
The brand started testing new store designs for new openings in select markets, allowing franchisees to bring a local feel into menu development and interior layout, rather than following the standardized templates provided by most franchise concepts. The Brass Tap has launched six locations under this new model in the last three months and each location has set new opening sales records within the first few weeks in operation.
“We don’t believe in a cookie cutter approach for our new model, instead we’ve created a brand that demands local ownership,” said Chief Development Officer of The Brass Tap, Jean Baudrand. “We want our franchisees to bring elements of their communities into their restaurant design, from color and material choices to interior décor.”
With a white-collar, female population making up the majority of the brand’s guests, there is a stong emphasis placed on a warm and inviting atmosphere including bright colors, engaging customer service and a lively environment.
“We typically look at developing in areas with traffic driven from existing bars and restaurants because we’re an entertainment-centric brand,” said Baudrand. “We do best in areas where the unemployment rate is low and where there’s a high-density of middle class housing.”
To promote rapid growth, the brand is concentrating on markets similar to those where it has seen success in the past. Additonally, The Brass Tap continues to target multi-unit operators with prior industry experience to streamline the development process.
“Operators who have hospitality experience understand the elements of good service, which creates a fantastic opportunity for our brand,” said Baudrand. “We’ve been vetting interest in coastal cities and throughout Texas, but our expansion isn’t quantified by regions, we aim to grow everywhere.”
In recognition of the brand’s success, one of the nation’s leading private equity groups CapitalSpring recently invested in the parent company of The Brass Tap, FSC Franchise Co. With the backing of CapitalSpring, The Brass Tap is continuing to focus on developing in key markets across New York, New Jersey, California, Texas, and North and South Carolina.
“We are proud to be a part of a group that recognizes the opportunity that we have with The Brass Tap,” said Baudrand. “CapitalSpring has built a billion-dollar private equity firm around the acquisition of restaurants through the facilitation of ownership and financing of restaurants, and we are excited to see how our brand progresses with their support.”