Fast casual Mexican restaurant Qdoba announced plans to double in size over the next decade, opening 40 stores this year, followed by 60 in 2024 and 80-plus annually beginning in 2025. The company currently has 750 restaurants in 45 states.
“Qdoba is an exceptionally well-positioned brand in one of the most attractive restaurant categories. We possess long-standing momentum, strong unit economics, a compelling operating model, an extraordinarily passionate guest following, and significant untapped geographic potential,” said John Cywinski, CEO of Modern Restaurant Concepts, Qdoba’s parent company. “We are in the process of aggressively accelerating new restaurant development in partnership with existing and new franchisees. Once our pipeline is fully established, we expect to sustain a 10% annual growth rate through new restaurant development.”
In keeping with its selective refranchising strategy, Qdoba recently sold 77 company-owned restaurants to existing franchisee, North Fork Fresh Mex, which now operates 97 Qdoba restaurants in Missouri, Illinois, Indiana, Kentucky and Virginia. North Fork has also committed to build 73 new restaurants over the next seven years and is now Qdoba’s largest franchise partner.
“Without a doubt, this agreement with Qdoba provides us a tremendous opportunity to not only further expand our business but also benefit team members throughout our organization,” states North Fork Co-owner Jacob Stauffer. “We’ve seen great success since aligning with Qdoba years ago and know the brand provides a distinct business advantage as we tackle important yet underserved markets in the months ahead.”
Qdoba is currently 80% franchised with 85 franchise partners in the U.S.
