The "better burger" segment has been dominating business publications and continues to fulfill consumer demands for more. On the heals of Shack Shack preparing for its IPO, the brand is expected to sell 5 million shares in its initial offering for $14 to $16 apiece. This would put the better burge.....
And this is just the beginning. The better burger segment has seen phenomenal success in both the consumer and franchise space.
Delray, Florida-based BurgerFi has seen system-wide gross sales of $66.4 million dollars - a 114 percent increase from 2013. In 2014, the chain entered 12 new markets and opened non-traditional storefronts such as moving into the Miami Dolphin's Sun Life Stadium and the CNN Center in Atlanta. This year, the brand projects to double in size.
Back Yard Burgers, a Nashville, Tennessee-based burger franchise is also seeing explosive growth. The brand experienced a 5.8 percent companywide increase in 2014 compared to the previous year, and is using this momentum to spearhead its growth phase in 2015. Known for its one-third-pound Black Angus burgers prepared on a charcoal grill, the brand plans on moving into untapped markets this year as well as bolstering the success of existing locations.
The segment seems to be doing well due to a perfect combination of comfortable atmosphere and affordable price points while retaining high-quality ingredients.