Moe's Southwest Grill plans to expand
Moe's Southwest Grill is looking to build more burrito outlets. The company, which is part of Atlanta-based Focus Brands, currently has about 410 stores and plans to open 40 this year and 100 next year, said president Paul Damico.
Damico said current franchisees are funding expansion through internal cash flow. Although the company's top two markets are Florida and Georgia, it is willing to expand west of the Mississippi if it can find well-capitalized partners who could build at least five units per year, Damico said.
The company, which competes with national brands such as Chipotle and Qdoba as well as local and regional chains such as Willy's, has probably topped out its expansion potential in Atlanta, where it has about 70 restaurants. "Right now, there is virtually no growth left in the Atlanta market," said Damico. Sales at Moe's restaurants open at least a year are up about 6 percent so far this year.
Get the news in bite-sized portions! Follow us on Twitter here.
