Reviving Friendly's: A Comprehensive Strategy for Growth and Brand Identity
Explore how Friendly's is turning its operations around, from menu updates to store remodels, attracting franchisees and revitalizing its brand identity.
Photo by Butuza Gabriel on Unsplash
Development Deals and Franchisee Appeal
Friendly's is actively pursuing development deals, particularly in Southern states like Florida, Texas, Georgia, and the Carolinas. The chain's appeal to franchisees lies in its established brand recognition and unique offering that blends sit-down Americana cuisine with ice cream, a combination not commonly found in other concepts. By offering development discounts, like halving the initial franchise fee and providing reduced royalty rates, Friendly's is incentivizing both existing and new franchisees to join its growth trajectory.
Average Unit Volumes and Positive Comps
With average unit volumes exceeding $2 million and positive same-store sales growth, Friendly's is experiencing a resurgence in performance. The chain's focus on driving traffic, without resorting to price increases, has been a key driver of its success. By enhancing menu offerings and updating restaurant experiences, Friendly's has been able to engage both loyal customers and new demographics, translating into double-digit year-over-year growth.
Photo by Butuza Gabriel on Unsplash
Menu Innovation and Relevance
In a bid to stay relevant in 2024, Friendly's revamped its menu to blend nostalgia with innovation. By introducing unique and craveable items like the Cheese Skirt Burger and the French Fry Sundae, Friendly's has managed to capture the essence of comfort food while offering Instagrammable and contemporary dishes. The menu overhaul, coupled with strategic marketing collaborations like the one with the Jonas Brothers, has created buzz and excitement around the brand.
Store Remodels and Brand Identity Preservation
When it comes to remodeling its stores, Friendly's has focused on modernizing while preserving its historical brand identity. By updating color schemes, enhancing visuals, and redesigning the layout to showcase its ice cream offerings, the chain has successfully attracted customers of all ages. The introduction of interactive elements like the Fribble wall enhances the overall customer experience, infusing a sense of fun and nostalgia that aligns with the brand's traditional charm.
Future Growth Strategy
Friendly's future growth strategy aims for measured expansion, targeting five to seven new restaurants per year. The ultimate goal is to reach a network of 250 to 300 restaurants over the next few years. By prioritizing unit economics and franchisee profitability over rapid expansion, the brand aims to avoid past mistakes of unsustainable growth. The focus on sensibly growing in strategic locations underscores Friendly's commitment to long-term success and brand resilience.