How The Conversion Opportunity Trend Is Driving Growth For Captain D’s
The Covid-19 pandemic triggered a seismic shift in real estate trends, and Captain D’s was ahead of the curve with its savvy focus on conversion opportunity. A recent interview in Franchise Focus Magazine highlights how our fast-casual franchise brand’s innovative prototypes became the ideal solution in today’s rapidly changing markets.
Innovative Planning Makes Us A Great Catch.
2020 has been the year of off-site dining, and Franchise Owners are looking for a small-footprint location that caters to takeout, drive-thru and third-party delivery options. Because of our longstanding commitment to continual innovation and accelerated technology to gauge and assess marketplace development strategies, Captain D’s, which has more than 500 seafood franchise restaurants nationwide, was in a strong position to take advantage of this new real estate trend.
The Captain D’s Pivot To Off-Premise Dining Pays Off.
Phil Russo, Vice President of Real Estate for Nashville, TN-based Captain D’s, told Franchise Focus that “The no-dining room design was in the planning stages before the pandemic and became important during the crisis when restaurants were forced to stop or limit indoor dining.” We made a quick pivot to focus on four new prototypes, including walk-up and drive-thru only. “Having that prototype gives us more flexibility,” Russo said. “We were looking at this walk-up only for urban areas, and now we are seeing opportunity to do more of that throughout the system.”
Our New Prototypes Make It Simple To Open More Faster.
The Right Business Model For COVID Times.
Historically, franchises tend to thrive in tough times. New and existing Franchise Owners are looking for investment opportunities that come with low start-up costs, multiple revenue options, corporate support and flexible real estate options. Our experienced leadership and real estate teams have seen firsthand how the market has changed, with more ways for Franchise Owners to negotiate lease or purchase options at excellent prices and terms. “It’s definitely a tenants’ market,” Phil Russo told Franchise Focus. “Landlords are willing to work with us a little bit, and there are certainly some more viable sites on the market.”
For Sale: Better Fast-Casual Franchise Locations For Less.
Other franchise executives agree with Russo’s assessment. “Pre-COVID it was a landlords’ market,” said Gregg Koffler, Vice President of Franchise Sales and Development for Paris Baguette. “A correction was needed because rents had really skyrocketed the last two years.” South Korea-based Paris Baguette has 4,000 locations globally. The U.S. headquarters are in Moonachie, N.J., and there are more than 80 locations in the U.S. As the chain looks to expand, prices have become more accessible in certain areas. “If you look at some of the major markets, they are the ones hit the hardest from the landlords’ perspective,” Koffler said. More and more, landlords are motivated to come to the table with advantageous offers.
Invest In A Fresh Opportunity.
Our low-priced, high-quality seafood menu already stood out in a sea of pizza and burger options, and our small-footprint prototypes have made us even more attractive to new and existing Franchise Owners who want to expand their fast-casual franchise portfolio. Captain D’s diverse real estate and flexible build-out options make this an ideal time to bring our unique fast-casual franchise brand to your market. Don’t let this opportunity get away—fill out the form to find out more!