FSR Magazine: Famous Toastery’s New Growth Strategy

According to FSR Magazine, Famous Toastery has a new growth strategy that will allow them to double in size by 2024. Of Famous Toastery’s 26 stores, 20 are owned by franchisees. Four of those franchised restaurants are operated by CFO Adam Gordon and executive chef Julio Heras. CEO Robert Maynard says several current franchisees are looking to open locations and sign leases, with multiple deals pending. The same is true for the pipeline of external operators.

The brand’s strategy is to saturate the Carolinas, Virginia and Tennessee. North Carolina will be a priority, including Charlotte, the Triangle (Raleigh, Durham, and Chapel Hill) and the mountains.

“The mistake we made was just not being tough on the way things were run and the brand standard,” says Maynard. “We're not worried about re-entering the [Triangle] market. We have earned 110 percent confidence in the market, and we have a store that's still [in the Triangle] and is doing really well.”