Pierre Panos, creator of Stoney River Legendary Steaks, teamed up with Atlanta chef Jesse Gideon to open their first Fresh to Order (f2o) concept in Atlanta in 2006. The idea was to create fine dining American fusion food in less than 10 minutes and for less than $10.
The now six-unit f2o chain has announced expansion plans buoyed by the recent launch of the company's franchising program in 2010. Projections call for at least five multi-unit franchise deals in 2011 for a combined 15 to 20 stores within three years.
By 2015, f2o expects to have 50 locations open nationwide and another 50 in various stages of development.
Differentiating itself from other fast casuals
When Panos and Gideon first opened f2o, they called the concept "fast fine" because of its offerings and price-point.
"As far as we know, there isn't another concept out there doing what we do," Panos said. "Perhaps some competition will come down the line, but by then we will be way ahead of the pack in the same way that Panera is way ahead in the fast casual space."
Fresh To Order differentiates itself with its broad selection of dinner entrees or "long plates" that include items such as Almond Rosemary-Crusted Chicken Skewers with Crunchy Asian Slaw and a Bourbon Filet with Balsamic Cabernet Reduction and Garlic Jack Grit Cake.
As opposed to most fast casual restaurants that do a majority of their business during lunch, the dinner daypart makes up close to 40 percent of f2o's daily sales.
"Fifty percent is the Holy Grail and we will get there eventually," Panos said. "Having such a large dinner crowd increases our overall sales. People are seeing us as an alternative to casual dining restaurants like The Cheesecake Factory or California Pizza Kitchen."
The menu also features salads, Panini and entrees with fresh-to-order proteins, an open display kitchen and twice-daily made-from-scratch soups and dressings. There is also a selection of beers and wines.
The average customer ticket order is $9 at lunch, $11 at dinner.
With its franchising program in full swing, f2o's primary growth is expected to come from multi-unit developers who can commit to opening two to five restaurants within three years in a designated territory.
Targeted areas initially include the Southeast and Texas.
"People are responding even better than we initially expected," said Gideon. "I think there is unlimited potential for growth — both for menu items and growth of the concept nationally."
A native of South Africa, Panos created the Stoney River Legendary Steaks chain, which he later sold to the O'Charley's brand. Panos also owns Atlanta's Brookwood Grill.
QS America, the parent company of f2o, is headed by Panos and also operates brands in the quick-service, fast casual and fine dining restaurant segments, including more than 40 Papa John's restaurants in four states.
