Few restaurant concepts on Inc. Magazine's 'fastest growing' list

Aug. 22, 2013

Inc. Magazine's annual 5000 list, recognizing the fastest growing privately held companies in the U.S., will appear in the September issue with few restaurant concepts making the cut.

The top restaurant brand this year is Patxi's Pizza, No. 1215 overall and 24th in the food and beverage category. Patxi's, based out of California, has experienced a three-year growth rate of 342 percent, with $14.2 million in revenue. In 2009, the brand's revenues were $3.2 million.

Patxi's, which specializes in Chicago style deep-dish pizza, has added 298 jobs in the past three years and now employs 418 people. It has also expanded its footprint into the Denver market.

"Patxi's Pizza is once again excited to be a part of such a legendary list. We have been working hard to grow our business and have been extremely well received in our newest markets in Denver and San Jose. Our fresh, authentic pizza seems to speak for itself and we are looking forward to bringing it to even more new customers — we have expansion plans for Seattle and Southern California," said CEO William Freeman.

Fast casuals well represented

Perhaps unsurprisingly, other restaurants on the list of 5,000 mostly fall under the fast casual segment. This has been a trend for the past couple of years.

Smashburger returned to the list for a third year. Other fast casual concepts also made a return appearance, such as Which Wich, Zoup!, and Noodles & Co.

Two years ago, Smashburger was No. 99. This year, the Denver-based brand was No. 1562. Smashburger now has more than 220 restaurants located around the world. The company expects to open 50 to 60 new locations over the course of 2013, ending the year with approximately 250 restaurants systemwide.

"The growth that we experienced in 2012 has continued into 2013 as we see a growing demand for a premium dining experience that emphasizes fresh ingredients and innovative recipes," Dave Prokupek, chairman and CEO of Smashburger, said in a press release. "At only six years old as a brand, it is an accomplishment for our entire organization to be recognized by Inc. for the third year in a row. Our focus remains on growing the Smashburger brand presence in new and existing markets worldwide and we look forward to another successful year of growth."

Bojangles and a couple of other quick-service concepts made the list, ensuring that segment was also represented.

Among the restaurant brands listed are:

  • Tender Greens, No. 1407: 285 percent growth rate, $28 million in revenues, California based;
  • Meatheads, No. 1420: 282 percent, $10.5M, Illinois;
  • Smashburger, No. 1562: 254 percent, $74.3M, Colorado;
  • Zoup!, No. 1584: 250 percent; $23.1M, Michigan;
  • Muscle Maker Grill, No. 1790: 214 percent, $3.8M, New Jersey;
  • Yogurtland, No. 2201: 168 percent, $112.2M, California;
  • Which Wich Superior Sandwiches, No. 2203: 168 percent, $105.7M, Texas;
  • Freddy's Frozen Custard, No. 2396: 151 percent, $98.9M, Kansas;
  • Capriotti's Sandwich Shop, No. 3998: 68 percent, $55M, Nevada;
  • HuHot Mongolian Grill, No. 4044: 66 percent, $2.9M, Montana;
  • Boloco, No. 4225: 60 percent, $22.5M, Massachusetts;
  • Noodles & Company, No. 4329: 56 percent, $300.4M, Colorado;
  • Bojangles' Famous Chicken 'n Biscuits, No. 4508: 50 percent, $348.8M, North Carolina;
  • Edible Arrangements International, No. 4751: 43 percent, $466.1M, Connecticut;
  • Texas Subs (Subway and Mooyah franchisee), No. 4897: 38 percent, $38.1M, Texas;
  • Fatburger, No. 4907: 37 percent, $87.6M, California.

The fastest growing company in the food and beverage category is Vertex Body Sciences, with a three-year growth rate of 10,010 percent. Vertex is No. 19 overall on the list.

The top company overall is Fuhu, a company that makes soft-sided tablets for children. According to Inc., Fuhu has produced a three-year growth rate of 42,148 percent.

Read more about trends and statistics.

Topics: Franchising & Growth , Trends / Statistics

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