In its 20th year of franchising with a renewed focus on expansion in target growth markets across the globe, Ruby Tuesday remains worthy of investment for sophisticated restaurant operators looking to build success with the concept that is forging a path with a refreshed focus on development. In April, the brand also announced the addition of Jim F. Hyatt, II as President and Chief Executive Officer and a member of the Board of Directors for the brand. Hyatt brings more than forty years of leadership experience in the restaurant industry to these roles to lead the company. But leadership and growth potential itself are just a couple of the numerous reasons to invest in Ruby Tuesday. Here are the top five reasons to invest in the brand.
1. Legacy Brand Reputation
Ruby Tuesday is one of the most well-known and beloved brands in the restaurant industry. The iconic American brand started out as a single location near the University of Tennessee in 1972, and the restaurant chain now boasts over 600 locations across the globe through more than 20 years of international franchising. But that level of success didn’t happen overnight—Ruby Tuesday solidified its position as a leader in the restaurant industry by creating a completely unique concept.
The brand’s food is in a league of its own when it comes to freshness and quality and brings a level of innovation to the table that other restaurants in the category lack. Just look at the garden bar, what was once a novelty is now the brand’s signature menu selling point.
2. Potential for Expansion
As Ruby Tuesday expands its franchise program, both domestically and internationally, the brand is welcoming more owners and operators into its system in communities around the world. Ruby Tuesday is identifying strong franchisee partners that will help perfect its system and continue to develop an environment that fosters growth and success for both new and experienced entrepreneurs.
With restaurants throughout Canada, Chile, Iceland, Kuwait, Panama, Egypt, Romania, Saudi Arabia, El Salvador, UAE, Oman, Trinidad, Guam, Honduras and Hong Kong, Ruby Tuesday’s time-tested model is already seeing strong growth on an international scale. As Ruby Tuesday continues to explore new international franchise opportunities, it does so by utilizing a unique Global Growth Strategy. Designed to make its international franchisees as successful as possible, the brand leverages its existing presence throughout the world by tapping into experienced restaurant operators to help lead a more streamlined and supported approach to operations. This gives incoming franchisees a designated leadership team that’s always local and always available.
For example, in May, Ruby Tuesday announced that it signed a development agreement with Al Bairaq Trading Import & Export Co., to expand the brand’s presence into Qatar. The Qatar-based franchise group, owned and operated by Alaa Subhi Abbas, will open five restaurants in Qatar over the next five years. This announcement comes as Ruby Tuesday launches an aggressive international development strategy.
3. Top Choice For Casual Dining
Every year, more than 9,200 consumers are polled for the Market Force Information study, which ranks casual dining chains in seven categories: general menu, pizza, Italian, breakfast, buffet, steakhouse and seafood. The study revealed the top casual dining chains in the industry and Ruby Tuesday was among several other restaurants to make the esteemed list.
This year, Ruby Tuesday received a score of 42 percent in the general menu restaurants category, putting them ahead of restaurants like Chili’s Bar & Grill, Red Robin, Hooters, T.G.I Fridays, Buffalo Wild Rings and Applebee’s. Cheddar’s Scratch Kitchen was at the top of the list with a score of 52 percent. With a product that beats competitors in the industry, prospective franchisees can be confident that their restaurants will be supported by a loyal customer following.
4. Fresh Start Initiative
Ruby Tuesday has always been driven by an uncompromising commitment to freshness, quality and gracious hospitality. That dedication has made the brand a global force in the fast casual segment, most recently with its newest program to promote quality, dubbed “The Fresh Start Initiative.” It is designed to leverage nostalgic feelings from guests built over the last four decades while simultaneously streamlining operations for franchisees in a more inviting, modern dining environment.
Building on the assets that made the brand famous, including its legendary Build Your Own Garden Bar, the new menu is intended to provide updated culinary innovation and value to Ruby Tuesday guests. The brand announced an all-new, expanded Endless Garden Bar with more than 55 tantalizing ingredients – nearly double the number of items offered on the previous Garden Bar – at all locations in early 2017. Ruby Tuesday’s new Garden Bar features more than a dozen new fruits and vegetables, premium cheeses, a variety of crunchy toppings and eight dressings. These improvements can streamline operations for franchisees, simplifying some recipes and procedures in the kitchen to guarantee high quality hospitality for guests around the globe.
5. Diversifying Revenue Streams
While it has long thrived in neighborhoods throughout the world, Ruby Tuesday’s potential runs much deeper than its community-based brick-and-mortar locations. In fact, brand leadership has found that the dining experience thrives in nontraditional markets, too. With current franchise locations in Detroit, Orlando, and Newark, Ruby Tuesday has found growing success within airports. And it’s easy to see why—with average store sales hovering around $5.1 million, Ruby Tuesday has filled an unmet need for on-the-go customers with its high-quality menu that has something for everyone. Additionally, the brand’s take-out business is booming. Ruby TueGo, which currently accounts for seven percent of sales, gives loyal customers another way to enjoy their favorite Ruby Tuesday meals.
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