Famous Toastery Looks to Lock Up Eastern U.S.

Famous Toastery currently has six locations open. That number is forecast to grow to 16 before year’s end. From there, the brand hopes to have 40 locations open and running by 2017.

“We’re expanding into the southeast and east right now,” said Robert Maynard, co-founder and chief executive at Famous Toastery. “We’re negotiating openings in New York and Philadelphia, the Carolinas, Tennessee, Florida and Virginia.”

While the brand certainly has ambitious growth plans, it’s making sure to put them into action strategically.

“We don’t sell the franchises, we award them,” Maynard said. “The restaurants sell themselves - it’s us deciding who is best suited. It’s not a Las Vegas wedding. We take our time, meet franchisees, get to know them, meet their families. Selling franchises is easy; selling to the right people is hard.”

An essential component is making sure franchisees are the right fit for the brand, as well as ensuring the brand is able to provide the overarching support it feels franchisees deserve.

“Why would we want to work with people who wouldn’t be a good fit for us?” Maynard asked. “If I have 20 franchisees and five are unhappy, that’s bad. Nothing sells a franchise like a happy franchisee. We believe the franchisees are the most important part of the equation. If they’re happy and making money, their customers will be happy. They’re the ones putting the money up and investing in the brand and the people behind it – we take that very personally.”

The brand is also making the most of its unique business model. Factors as simple as parking are helping Famous Toastery move into premier locations.

“When you open a business at 7 in the morning, you offset parking,” Maynard explained. “ You’re not having to deal with competition – there’s usually more fighting for parking in afternoons and at night. On Saturday and Sunday mornings, parking lots are empty – it really helps us get great real estate because parking isn’t an obstacle.”

Famous Toastery is also paying special attention to multi-unit operators, as the brand has found its existing franchisees are eager to grow along with it.

“The unit economics are great – you’re selling eggs, not steak, so even with the highest-quality ingredients, you can make a lot of money out of this,” Maynard said. “This isn’t like a chain where you have to own 10 to turn a profit. That’s why all our franchisees that signed on are opening more stores.”