How Famous Toastery is Reducing the Costs Needed to Open a Restaurant

Famous Toastery has been emphasizing a new mantra of “Be Famous,” perfecting a business model that encourages franchisees to quickly become locally famous as pillars of their communities. This strategy involves providing not only “Famously Fresh” food made daily but also a hub for friends, families, and neighbors to come together.

To reduce costs needed to open a Famous Toastery restaurant, the team has been looking for strategic ways to eliminate some of the barriers that may discourage prospective franchisees from signing on. One way they are finding efficiencies is in the architectural design of their next build-outs.

• They make sure to have plans that are completely spelled out with no room for interpretation.
• This helps the general contractor avoid costly errors.

Famous Toastery VP of Franchise Development Eric Gustafsson says the team is more selective regarding real estate. Instead of buying a piece of land and building everything brand new, they look for second-generation spaces that only need to be lightly modified. This keeps costs down without sacrificing on their brand standards.

When it comes to preparing the site, any decor elements under the new “be famous” banner are designed to be cost-efficient. This means finding affordable items and requirements every step of the way.

The Famous Toastery equipment package is also handled with cost efficiencies in mind. They work directly with manufacturers to collaborate on deals and get the best pricing possible.

Vendor relationships are a key part of cost-efficient restaurant openings. As the brand grows, they leverage their buying power to negotiate prices down. This results in cost efficiency for franchisees through everything from construction, operations, and marketing.

Recently, the Famous Toastery team put these ideas into practice with a reopening of their flagship Davidson, North Carolina location. This taught them about how to save costs and optimize what they have done in the past.

The goal is to utilize these lessons learned and roll them out across the entire Famous Toastery system, both for existing franchisees and incoming owners. This involves measuring twice, cutting once, to ensure they have the correct architectural plans, construction process, design elements, and operational model.

Overall, this cost-efficient strategy aligns perfectly with the “Be Famous” attitude. The goal is to be famous for opening restaurants that are profitable, where every dollar spent in the opening can be captured in sales.