Savvy Sliders wants to grow from 35 to 500 locations in the next four years, and has recruited a savvy industry veteran with an impressive resume to get there. But even Bryon Stephens, who has been tasked with leading the growth and development strategy for the Michigan-based chain, admits the target number set by the franchisor may be a bit too ambitious, even for an emerging brand he believes has unlimited potential.
“I don’t know if 500 in four years is the right number in that timeframe, but I don’t think 500 by any stretch is the cap on what this brand can do,” said Stephens, the co-founder of Pivotal Growth Partners, who was recently named chief development officer for Savvy Sliders. “This is a brand that has it figured out. It has captured what I think everybody is looking forward to in QSR, with a quality proposition that is second to none.”
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If Savvy Sliders gets to 500 locations, it’s picked the right guy to lead them there. With 40 years of experience in the restaurant industry, Stephens has amassed an impressive track record of helping food brands fast-track growth. As president of Marco’s Pizza, he led efforts to grow the brand from 139 units in 2014 to nearly 800 by the end of 2018, when systemwide sales increased to more than $500 million annually.
Prior to that, Stephens worked in franchise sales and development for Yorkshire Global Restaurants when A&W and Long John Silver’s joined forces in the 1990s and subsequently merged with Tricon Global Restaurants to form Yum Brands. While at Yorkshire, Stephens opened more than 2,000 franchise outlets.
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In addition to his C-suite roles, he has worked with a number of entrepreneurs to launch start-up restaurant concepts as a business consultant, focusing on marketing, branding, growth, operational systems and execution.
“Consumers are infatuated with sliders, and we’ve put a tremendous amount of thought into how we can reimagine the category,” said Happy Asker, founder and CEO of Savvy Sliders. “We’ve uniquely positioned this brand, and our development efforts deserve an extraordinary approach. Bryon is the perfect fit because he believes in building brands, has a proven track record for explosive growth, and is willing to think outside the box.”
Stephens, who is credited with developing more than 3,000 different franchise outlets over several brands throughout his career, said he will draw on his past successes to help Savvy Sliders expand into new markets. The Farmington Hills, Michigan-based franchise, which specializes in affordably priced hamburger sliders, steak, chicken and fish sandwiches, has 35 locations open in the Detroit area, with 30 more sold in Michigan, Ohio, Indiana, Tennessee, Florida and Texas.
“We still have some growth potential in the Midwest, although we’re going to chase what I call the sexier markets,” Stephens said. “We just opened our first store in Texas and we’ve got ambitious growth plans for the state along with the Southwest and Southeast corridors. That’s where the population centers are growing, and that’s where consumers are that really this brand is going to resonate with, so you’ll see massive amounts of growth from us in those markets.”
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Stephens said he started his new role as CDO about a month ago, but he and his team at Pivotal have already started a brand analysis, which includes coming up with a prototype store of about 2,800 square feet. “That will give us the space needed to have a double-length drive-thru and give us 50 to 60 seats inside,” he said.
“I do think Savvy Sliders has landed in the right place at the right time,” he continued. “But we’re going to be very forward thinking as a brand. We’ve got great ownership that’s dedicated to doing that, and the marketplace is changing, and we may be seeing some fatigue in burgers and chicken. But we’ve got the team that will be able to be leading in that changing marketplace.”
And what about those growth projections of reaching 500 stores open in four years? Is that even doable?
“We’ve got to be ambitious, but we’ve also got to be cautious at the same time. What we don’t want is any bad growth,” Stephens said. “If it takes six years to get to 500 stores instead of four years, I don’t think any of us will be crying.”
The all-in cost to buy a Savvy Sliders franchise, according to its website, ranges between $411,000 and $765,000. Qualified candidates need to have a net worth of at least $400,000 to $500,000 and $150,000 in liquid assets.
Source: https://t-tees.com
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