Top 10 Full-Service Restaurant Franchises to Watch in 2024

Restaurant franchises continue to be a go-to option for entrepreneurs aiming to capitalize on proven business models and existing customer bases. Especially now, with fewer supply chain issues, a diminishing national labor shortage and decreased inflation, the restaurant industry is looking toward a more optimistic future. 

With this in mind, we’ve curated a list of the top-10, full-service restaurant franchises you should watch out for in 2024. 

Melting Pot

Units: 93
Investment: $1.3 million to $2 million 

The Melting Pot is a pioneer in the experiential dining category. The brand has been offering a memorable fondue-dining experience for more than 45 years. As a result, it has solidified its status as a trailblazer in the restaurant industry. In 2022, at least 74 Melting Pot restaurants set all-time sales records, and the brand is now seeking to add new qualified franchise prospects to its team as it aims to reach 125 units by 2026. 

TGI Fridays

Units: 270
Investment: $2,721,000 to $4,326,000

TGI Fridays, the popular U.S. restaurant concept known for its casual dining atmosphere, diverse menu and signature cocktails, is another brand to keep an eye on in 2024. The restaurant recently announced it would be implementing a strategy to strengthen its franchise model and streamline its operations as a way to deliver a “superior experience for each and every TGI Fridays guest.” 

“We are creating an unprecedented opportunity for Fridays to drive forward its vision for the future,” said TGI Fridays Chief Operating Officer Ray Risley. 

Shuckin’ Shack Oyster Bar

Units: 19
Investment: $471,750 to $1,416,420

Shuckin’ Shack, the fast-casual oyster bar and restaurant franchise with 19 units, is home to a relaxed beach lifestyle atmosphere and high-quality fresh seafood menu offerings, including crab legs, oysters, shrimp, scallops and calamari, paired with classic cocktails. Shuckin’ Shack was founded in 2007 in North Carolina and began offering franchise opportunities in 2014. Since then, it has grown into a network of more than a dozen restaurants across six states, with no signs of slowing down. 

Buffalo Wild Wings

Units: 1,257
Investment: $2,481,500 to $4,804,800

Buffalo Wild Wings, the restaurant franchise concept known for its sports bar theme, 21 signature sauces and seasonings, and inviting game-night atmosphere, is expanding into new territory in 2024. The brand is launching its new spin-off concept in several cities. Dubbed Buffalo Wild Wings GO, the food is carry-out only and offers a simplified menu. 

Applebee’s

Units: 1,650
Investment: $2,013,688 to $11,521,696

Applebee’s, the well-known American franchise that offers a diverse menu of salads, burgers, chicken, pasta and ribs, is actively implementing a new franchise strategy as it seeks to scale the concept even further. In August, the brand announced that four of its newest locations have seen average unit volumes of about $4 million, which is higher than the system average of nearly $3 million. Additionally, Applebee’s is reportedly working on a brand new store prototype to streamline operations, which will be available this year. 

Famous Dave’s*

Units: 100+
Investment: $881,750 to $4,495,750

Famous Dave’s is an award-winning barbecue concept that was first opened in 1994. Over the past 30 years, the brand has grown into one of America’s largest BBQ chains with more than 100 units across 32 states and even more in development. Famous Dave’s franchisees can enjoy the benefits of a streamlined business model, either through a traditional brick and mortar franchise or a ghost kitchen. In 2020, the highest-performing unit earned more than $6.2 million, revealing just how potentially lucrative the opportunity truly is. 

The Brass Tap*

Units: 35+
Investment: $783,425 to $1,321,025

The Brass Tap, founded in 2008, is an upscale craft beer bar with more than 60 taps and 200 varieties of local, national and international beers. The concept has an upbeat, high-energy, casual vibe that features live music, social events and televisions so you can enjoy the big game. In addition to its 35-plus units, Brass Tap has more than 50 additional locations under development and is on the cusp of exponential growth as it is positioned to quadruple in size in the Southeast and beyond. 

California Pizza Kitchen

Units: 160+
Investment: $3,477,000 to $6.7 million

California Pizza Kitchen, the creator of California-style pizza, is a modern and stylish restaurant brand that serves a menu of pizza, salads, pasta and sandwiches. The brand, which opened its doors in 1985, has expanded into nearly 200 restaurants worldwide, 12 international cities and 11 countries. California Pizza Kitchen is actively offering new franchise opportunities throughout the globe. In 2023, the brand announced its latest location in the Philippines. 

Gyu-Kaku Japanese BBQ

Units: 800+
Investment: $1.5 million to $1.9 million

Gyu-Kaku is a Japanese-inspired barbeque restaurant known for its interactive dining experience centered around grilling various cuts of meats, seafood and vegetables at tabletop grills. The brand operates under the purview of Rex Holdings, one of the largest restaurant operators in Japan. Gyu-Kaku’s first U.S. location was opened in West Los Angeles in 2001, but the restaurant continues to grow, with more than 800 units worldwide. 

Pizzeria Uno

Units: 100
Investment: $546,500 to $1,405,500

Pizzeria Uno, the neighborhood pizzeria franchise that invented Chicago deep dish pizza in 1943, has developed a reputation as a staple in the pizza category. The brand, which began franchising in 1980, has expanded to 100 locations across more than 18 states, the District of Columbia, India and Saudi Arabia.

An Optimistic Industry

There’s no question that the last few years have been rough on the restaurant industry, from COVID-19 related lockdowns to labor shortages, inflation and supply chain issues. However, as 2024 unfolds, restaurants are showing resilience and adapting to the changing landscape. With new innovations in technology and revamped business models, the industry is poised to rebound stronger than ever.