FSC Franchising Co. is on Track to Have a Record Year Despite Industry-Wide Challenges and Shortages
The Tampa company behind The Brass Tap and Beef 'O' Brady's defies odds with increased revenue and a projected record number of franchise sales.
TAMPA, Fla., June 1, 2022 /PRNewswire-PRWeb/ -- Despite the impact of the pandemic as well as supply chain and labor shortage challenges the past couple of years, FSC Franchise Co. continues to see record sales and system growth across its two brands. The Brass Tap and Beef 'O' Brady's have posted impressive top line growth and franchise sales through the first half of 2022.
Beef 'O' Brady's, 142 locations experienced a 12.9% increase in comp sales in Q1 and a new record average unit sales volume of $1.5 million. The 40 Brass Taps had 1st quarter comp growth of 14.7% and average unit sales volume of $1.4 million. Also a record.
In addition to the positive sales momentum, FSC has also seen a significant uptick in its franchise sales. In 2021, the company sold 35 total franchises and ended the year with 77 total deals in the pipeline. So far in 2022, FSC has booked 38 new deals and its pipeline has grown to 112 future openings. FSC expects to open 17 locations in 2022.
"It's very exciting to see this momentum in our top line as well as our franchise sales and store growth," said Chris Elliot, CEO of FSC. "That's a result of both brands' stability and a testament to how we have navigated all the environmental challenges.
Despite the tremendous growth, FSC is not immune to the inflation and supply chain issues affecting the industry. Both Beef 'O' Brady's and The Brass Tap have made menu changes that required sourcing alternative products with better pricing and availability.
"We've taken menu price increases and reconfigured some of our offerings to keep the balance needed between customer value and margin integrity,'' said Elliot. "We know people are hurting because of inflation. We manage our menu so that it's possible for customers to still get quality food at a good value in spite of inflation.
FSC not only survived the COVID-19 pandemic, a time when over 90,000 restaurants closed nationwide, but it has been able to thrive in these challenging times. The Brass Tap is expecting to open 12 locations this year, and Beef 'O' Brady's is on track to open five.
"We are so excited about our new location opening schedule and what's to come in the back half of the year," said Jamie Cecil, Vice President of Franchise Development for FSC. "We expect to sign 50 franchise agreements in 2022, which would be a record year for our brands."
ABOUT FSC FRANCHISE CO.
FSC Franchise Co. is the industry-leading franchisor behind Beef 'O' Brady's and The Brass Tap, with nearly 200 locations across the United States. Beef 'O' Brady's, with 143 locations in 21 states, is a family sports pub concept that provides the perfect atmosphere for friends and families to watch the game and grab a bite. The Brass Tap, a craft beer bar and entertainment venue with 44 current locations in 16 states, is known for extensive localized brewery offerings, specialty cocktails and premium wines paired perfectly with a select menu of upscale shareables.
Media Contact
Julie Green, Mainland, 3125263996, [email protected]
SOURCE FSC Franchise Co.
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