By combining over 100 years of franchising expertise across its executive team, the Elevatus team will leverage its experience to convert former restaurant spaces to lower the cost of buildout and quicken timelines for franchise partners to open.
CHARLOTTE, N.C., May 16, 2023 /PRNewswire-PRWeb/ -- Elevatus Brand Partners, a newly formed franchise investment firm, is excited to announce its partnership with Michael Waltrip Taproom, the brewery founded by two-time Daytona 500 winner Michael Waltrip. The latest addition to Elevatus' portfolio, the second Michael Waltrip Taproom location will celebrate a grand opening in Charlotte on May 16, marking the launch of the brand's franchise opportunity[JH1] as it aims to open 100 locations across the nation within the next five years.
Elevatus Brand Partners — founded by franchising industry giants Ken McAllister, former CEO of My Salon Suites; Robert Stidham, founder and CEO of Summa Franchise Consultants; Joe Lewis, former CEO of Smoothie King; along with its COO Jena Henderson, former VP of Growth at Saladworks — aims to elevate emerging and midmarket franchise organizations by providing innovative leadership, improved operations and resources. With existing investments in restaurant, service and healthcare franchises, the company is excited to expand its portfolio with the addition of Michael Waltrip Taproom and they spearhead its franchising efforts. The leadership team will be leveraging its 100-plus years of lessons learned in franchising to lead its franchisees to success.
"We all came together at Elevatus with a common mission to take good brands and make them great," said McAllister, who serves as Co-Chairman of Elevatus. "In the franchise world, most emerging brands have two challenges when they are trying to grow: the first is operational and the second is financial. In both of those cases, we can come in, tap into our resources and help elevate the brand to the next level."
Michael Waltrip Taproom was established in 2020 by iconic NASCAR driver Michael Waltrip.
The company operates its brewery and tap room in historic Bristol Virginia where it brews and serves over 30 beers including Two-time Blonde Ale and Bristol Sunshine Tangerine Ale. Michael Waltrip Brewing Company beers are distributed in five states and are available at retail and bars/restaurants, as well as sports venues.
The new Michael Waltrip Taproom location in Charlotte will mark the brand's second location and the official launch of its franchise opportunity. The grand opening event on May 16 will feature a VIP-centric, private party with Michael Waltrip himself. The following week, coinciding with the Coca-Cola 600, the venue will be offering a unique and refreshing range of craft beers and classic American fare in a sports-themed, family-friendly environment with special events and week-long specials.
"Michael has an incredible passion for great beer, great food and a great time, so we knew we would be able to follow that vision and use our resources to help the brand grow," said McAllister. "It all starts with Michael. We really appreciate that he has invited us to partner with him and we are confident that the Michael Waltrip Taproom can win the race and become one of the nation's most successful sports venues."
The Michael Waltrip Taproom franchise aims to provide a cost-effective business model for franchisees by repurposing second-generation real estate rather than requiring new construction. This strategy will help minimize the financial burden associated with traditional real estate investments, ultimately increasing franchisee profitability and success.
"In the spirit of NASCAR, we are all about speed-to-market for our franchisees," said Stidham, Co-Chairman of Elevatus. "When we acquired this real estate in Charlotte, for example, it only took us about a week to convert the space into a Michael Waltrip Taproom. Time is money. We are going to be more flexible with our business model to ensure franchisees can lower their start-up costs and reach profitability faster."
Additionally, incoming franchisees can be confident that they will have the backing of an expert leadership team with over 100 years of collective franchising experience. "Even more than that experience, it is about the direction we are taking the company," said McAllister. "Everything is about the success of the franchisees. When you focus on that, everything else falls into place."
As Elevatus Brand Partners continues to invest in strategic growth, the partnership with Michael Waltrip Taproom underscores their commitment to fostering innovation and collaboration in various industries. With the support and expertise of the Elevatus leadership team, Michael Waltrip Taproom is poised to become a nationwide sensation, both for consumers and franchise partners.
"We couldn't be more excited about launching this franchise and partnering with the Michael Waltrip Taproom brand," said McAllister. "When you enter a restaurant like this, with great craft beer, live music, fantastic food, a family-friendly atmosphere and a beloved celebrity founder, it is just fun! People crave that experience when they leave. Now, we are looking forward to partnering with qualified and passionate franchise owners to bring that experience to more communities across the country."
About Elevatus Brand Partners
Elevatus Brand Partners is a franchise investment firm founded by industry veterans Ken McAllister, Robert Stidham and Joe Lewis. With a focus on emerging to midmarket franchise organizations, Elevatus Brand Partners seeks to add value beyond capital by providing innovative leadership, improved operations and resources. The company's diverse portfolio includes investments in the restaurant, service and healthcare industries.
About Michael Waltrip Taproom
Michael Waltrip Taproom offers a unique and approachable craft beer experience for enthusiasts and casual drinkers alike. Founded by iconic NASCAR driver Michael Waltrip in 2020, the company is dedicated to producing high-quality, refreshing and flavorful beers using premium ingredients and expert craftsmanship. With flagship offerings such as Two-time Blonde ale, Bristol Sunshine Tangerine Ale, and 15 Southern lager, Michael Waltrip Taproom is set to become a nationwide leader in the craft beer industry. For more information, please visit https://www.michaelwaltriptaproom.com/
Nick Powills, Mainland, 3125263996, [email protected]
SOURCE Elevatus Brand Partners