Brand set its sights on adding 10 new locations to state by end of 2018
The better-breakfast franchise, Famous Toastery, has major plans over the next year to grow in its founding state of North Carolina. Since its inception in 2005 in Huntersville, N.C., the concept has steadily grown throughout the Southeast and in recent years, has started to branch out nationwide with new locations in Pennsylvania and Colorado.
Now, the brand is circling back to North Carolina as population growth in the state creates an opportunity to add multiple locations across the state.
"We already have a lot of restaurants in Charlotte and in towns throughout the state, but we really see an opening to keep growing our presence in our home market," said Famous Toastery CEO and Founder Robert Maynard. "Huntersville, where Brian Burchill and I opened our first Famous Toastery, has more than doubled in population since 2010, creating a demand for more breakfast spots in town."
North Carolina's population has increased by more than 600,000, or 6.4 percent, since the 2010 U.S. Census. More than 10 million Americans live in North Carolina crowning it the ninth most populous state in the country this year, according to the U.S. Census Bureau.
The breakfast concept currently has 13 locations in the state and is planning to add 10 new corporate locations by the end of 2018 with a focus on Greater Charlotte, Winston-Salem and Asheville.
"A lot of brands make the mistake of expanding outward too quickly. Take the time to fill out the state where you started and stick close to home until you're ready to grow out from there," said Maynard.
According to Forbes, North Carolina was ranked the second best city to start a new business due to its low labor costs and incoming business investment. Coupled with population growth, the state presents new opportunity that wasn't present a decade ago.
"There's a lot of young professionals migrating to the Carolinas. The region is a great place to raise a family because of its mild climate and affordability. Compared to other states in U.S., North Carolina is more affordable when it comes to buying a house and offers a valued work-life balance," said Maynard.
Since its small beginnings in 2005, Famous Toastery has grown into a leader in the better breakfast segment of the restaurant franchising sector. As it continues to grow nationwide, it's commitment to fresh ingredients and home-style service has stayed constant reinforcing the brand's reputation as a quality breakfast spot. The brand is actively scouting out franchisees as it continues to expand outwards. Startup costs begin at $601,500 and cap at $1,044,000 with a franchisee fee of $65,000.