Freddy’s Frozen Custard & Steakburgers Signs Agreements for 64 New Restaurants in Q1

Wichita, Kan.— In first quarter 2022, Freddy’s Frozen Custard & Steakburgers has signed six new multi-unit agreements that will bring a total of 64 new Freddy’s locations to new and existing markets. Most notably, existing Freddy’s franchisees of more than a decade, M&M Custard, inked an agreement to expand the brand’s growing footprint in Chicago with a commitment to develop 13 locations. Additionally, Freddy’s opened 11 new locations nationwide in first quarter and is on track to open over 50 locations throughout 2022.

“As we celebrate the 1-year anniversary of our acquisition by Thompson Street Capital Partners, we’re happy to report the Q1 franchise development success we experienced — particularly following such a strong year in 2021. While we’ve remained true to Freddy’s core pillars, under new ownership, we’ve worked to streamline operations for our entire system, allowing for a higher AUV and enhancements to our business model as a whole,” says Andrew Thengvall, chief development officer at Freddy’s. “The support of our franchisees has been remarkable through the transition, and we’re extremely proud of their desire to continue to invest in Freddy’s. The Upper Midwest has been a priority market for us over the past couple of years, and we’re thrilled that M&M Custard will further develop our footprint in Chicago.”

M&M Custard opened its first Freddy’s location in Jefferson City, Mo., in May 2012, and today the franchise group owns and operates 35 locations across six states.

In addition to the Chicago deal, the groups that signed new multi-unit agreements in Q1 and their growth plans include:

  • In an agreement at the close of first quarter, Lone Star Custard acquired 21 existing Freddy’s units in Texas and has committed to opening an additional 30 Freddy’s locations throughout the state of Texas, specifically in Dallas.
  • AOM, LLC will be adding Freddy’s to its existing franchisee portfolio, which currently includes units with Walk On’s. AOM, LLC signed an agreement to bring nine locations to Texas and Louisiana. Specifically, they will be responsible for developing locations in Beaumont and Port Arthur in Texas, as well as the cities of Lake Charles, Ruston, Monroe, West Monroe and Houma in Louisiana.
  • BSPub Holdings, LLC joins Freddy’s as a new franchise group with the commitment of developing five new Freddy’s locations across the state of Texas in counties including Ector, Midland, Burnet, Gillespie and Kerr.
  • Custard & Steakburger Holdings will also add Freddy’s to its extensive existing franchisee portfolio, consisting of eight units with Popeyes, Haagen Daz and Tropical Smoothie Cafe. They will be developing four new Freddy’s locations in Horry County, S.C.
  • Outlaw Management has agreed to develop three new Freddy’s in the counties of Aransas, Calhoun and Victoria, Texas.
  • Additionally, earlier this month, Freddy’s also opened its first airport location in the Will Rogers World Airport in Oklahoma City.

The new growth fuels the brand’s greater development goal to double its footprint within the next 4 years, bringing the total unit count to 800 by 2026.

Founded in Wichita, Kan., in 2002, Freddy’s Frozen Custard & Steakburgers is a leading fast-casual franchise concept with more than 430 locations across 36 states nationwide. For more information, visit https://freddysfranchising.com/.

 

 

 

SOURCE: Freddy’s Frozen Custard & Steakburgers

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