Wherever a Famous Toastery location opens, it transforms unfamiliar customers into repeat business. However, even more impressive may be how the concept has turned cautious franchisees into brand ambassadors clamoring to open multiple locations.
What’s the brand’s secret? According to Robert Maynard, co-founder and chief executive of Famous Toastery, there is more than one answer to that question.
“Our franchisees are seeing solid ROI, and fast,” he said. “These restaurants don’t take very long to grow – they are typically self-sustaining very quickly.”
Part of this success comes from the chain’s unique market position.
“The idea of ‘better breakfast’ is still fairly new,” Maynard said. “Most people are still stuck with Waffle House and IHOP, but they’re seeing us, liking us and coming back for more. There’s just not a lot of competition for what we’re doing. Our service is bar none, our training is fantastic, and the founders are really, really involved.”
That means franchisees can count on Maynard and his team paying attention to things like food costs and labor expenses on their behalf. Unlike other brands that sell a franchise and then hope for the best, Famous Toastery is in it for the long haul, helping franchisees maximize their potential every step of the way.
“We always send out at least six people for two weeks to help open a new location, but it ends up being closer to a month,” Maynard said. “It costs a lot of money but we feel it’s a good investment. We put our money where our mouth is. We don’t leave until we feel that you’ve got it and you’re 100 percent. Franchisees invested in us, the least we can do is invest in them.”
Thanks to the brand’s business model and comprehensive support network, franchisees are seeing sizable returns quickly, and it’s led to a crowd of existing owners who want to expand further.
“Our franchisees are not taking on multiple restaurants because they’re not making money,” Maynard said with a laugh.
And with Famous Toastery planning to have 40 locations open and running by 2017, existing and new franchisees alike will have the opportunity to grow along with the brand, enjoying all the rewards that come with it.