Smashburger has announced a summary of its 2011 accomplishments and its plans for 2012. The fast causal concept opened 51 new units in 2011, which includes expansion into 12 new markets. The company ended the year with 143 locations nationwide, representing 55 percent new unit growth for the year. The company also announced its first international expansion initiatives with units expected to open in the Middle East, Canada and Latin America in 2012, beginning the company’s strategic expansion to fast growing markets around the globe.
Smashburger's unit growth was supported by a number of "best burger" awards around the country, positive same store sales growth of 3 percent, as well as the addition of 11 new franchise agreements. The agreements will bring Smashburger's pipeline of committed franchise stores to more than 450 units set to open over the next several years.
"We are very pleased with our growth over the past year, particularly during a challenging consumer environment, and believe our ability to grow during this time and in an increasingly competitive market is a testament to the quality of our food, the strength of our brand and the loyalty of our guests,"Chairman and CEO Dave Prokupek said in a news release. "We see continued growth opportunity in the 'better burger' marketplace as consumers continue to seek great tasting food that is available fast and at a competitive price point."
In 2011, Smashburger also was recognized with a number of prominent industry awards, including being named 'America's Most Promising Company' by Forbes magazine, ranking number 99 on the annual Inc. 500 list of the nation's fastest-growing private companies and receiving the 2011 International Council of Shopping Centers 'Hot Retailer Award.'
In 2012, the company plans to add 50 to 70 new restaurants in new and existing markets, including 15 to 20 new corporate stores in existing and new markets such as Chicago, Houston, Dallas, Los Angeles and Minneapolis, San Francisco, Boston, and Washington, D.C. Meanwhile, additional international territories include Western Europe, South America and Asia.
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