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CHICAGO, Aug. 01, 2019 (GLOBE NEWSWIRE) -- Potbelly Corporation (NASDAQ: PBPB), the iconic neighborhood sandwich shop concept, announced the signing of three new franchise agreements and the continued momentum in its franchising program.
Over the last six months, Potbelly has signed franchise agreements that, when fully built out over the coming years, will nearly double its franchise footprint with multi-unit development deals for a total of 38 units spanning Las Vegas, Nevada; Tampa, Florida; and the Carolinas. In addition, Potbelly has opened a number of franchise stores this year that are driving brand penetration across several areas of the country, including recently opened shops in Irvine, California; Odessa, Texas; Richmond and Charlottesville, Virginia; Rochester, Minnesota; and Charlotte, North Carolina.
Alan Johnson, President and Chief Executive Officer of Potbelly Corporation, commented, “The momentum in our franchising business illustrates the improvements we are seeing in the strength of our brand and the execution of our strategy. We have been able to attract accomplished franchise partners that have considerable multi-unit experience and are looking for a unique concept with which to grow. Franchising is an important component of our future growth and I would like to commend our team on their early success and momentum in the first half of the year.”
Franchise agreements signed in the first and second quarters of 2019 are setting the course for Potbelly’s accelerated franchise growth. These include:
“The increased pace of franchising is a key component of Potbelly’s growth strategy and is premised on partnering with experienced, well-capitalized multi-unit operators. Our reception in the franchise marketplace has been very encouraging,” said Potbelly’s Vice President of Franchise Development Peter Ortiz. “We have enjoyed a solid first two quarters, and with additional attractive regions still available, our momentum should continue to grow as we enter 2020.”
While it expands franchising strategically across the country, Potbelly continues to refine its operations and introduce new initiatives designed to grow shop revenues, specifically as it relates to the following initiatives:
Currently, there are more than 450 corporate and franchise Potbelly shops in the United States. As the brand continues to expand throughout the United States, Potbelly is awarding franchise opportunities to qualified multi-unit groups who are looking to add another successful segment to their portfolio.
For additional information about the Potbelly franchise opportunity, visit https://www.potbelly.com/franchising.
Potbelly Corporation is a neighborhood sandwich concept that has been feeding customers’ smiles with warm, toasty sandwiches, signature salads, hand-dipped shakes and other fresh menu items, customized just the way customers want them, for more than 40 years. Potbelly promises Fresh, Fast & Friendly service in an environment that reflects the local neighborhood. Since opening its first shop in Chicago in 1977, Potbelly has expanded to neighborhoods across the country - with more than 400 company-owned shops in the United States. Additionally, Potbelly franchisees operate approximately over 40 shops in the United States. For more information, please visit our website at www.potbelly.com.
Chris Hodges or Josh Littman
Alpha IR Group