Moe's also exhibited a 4.5 percent increase in same-store sales, showing consistent excellence among longer-standing locations.
Moe's Southwest Grill®, a leader in the fast-casual Mexican restaurant space, finished 2013 with $526 million in system-wide sales – a 12 percent increase from 2012. Moe's also exhibited a 4.5 percent increase in same-store sales, showing consistent excellence among longer-standing locations. The company, recently ranked the No. 1 Mexican food concept by leading research group Technomic, will open nearly 100 new restaurants in 2014.
In 2013, Moe's opened 54 new restaurants, including a milestone 500th location in Manhattan in June. The company also signed 155 new franchise deals. In 2014, the Moe's brand will start an important expansion on the west coast, beginning with an 18-unit agreement in Northern California with HKM II, LLC of Roseville, Calif – a major player in the quick-serve burger space.
"We've had our eyes on California for a long time now, and we found a terrific franchise partner to help us carve a path," said Paul Damico, President of Moe's. "2013 was great for us in terms of sales and unit growth, and we anticipate even stronger results in the next year."
Moe's stands out for both its food and customer incentives. Moe's "Food Mission," which can be found on the walls at every location, outlines the company's commitment to never using a microwave, zero trans-fat per serving and no MSG. More than 20 fresh ingredients are prepared daily, and the menu caters to those looking for low-calorie and gluten-friendly options. Moe's also offers free chips and salsa with every meal and a Coca-Cola Freestyle® machine for more than 100 unique drink options.
The first location in California is slated to open in the Sacramento area by spring of 2014. In total, Moe's plans to open 96 new stores in 2014 and sign 200 new franchise agreements. Moe's will open new restaurants in other significant markets like Dallas, Las Vegas, Fort Worth, Tex., Springfield, Mo., and Omaha, Neb., and in the works are plans for further development in markets like Chicago, Philadelphia, and Orlando.
Many of the accomplishments in recent years, and expected growth going forward, come from attracting top-level, multi-unit franchisees with remarkable portfolios – like Burger King, Five Guys, Wendy's, Wingstop and more, says Damico.
"Prospects are increasingly looking to Moe's because of our outstanding growth potential in an industry segment that is by no means saturated," said Damico. "We have a fun, irreverent brand that people want to be a part of."
At the close of 2013, Moe's Southwest Grill had more than 550 restaurants nationwide, and a strategic growth plan is in place to increase its existing presence to a total of 800 locations by the end of 2015.
Welcome to Moe's! Founded in 2000 in Atlanta, Ga., Moe's Southwest Grill is a fast-casual restaurant franchise featuring fresh, handmade, customizable southwestern food in a welcoming environment that rocks. Moe's is committed to serving only the highest quality ingredients 100% of the time at our 500 locations in the U.S. While Moe's is best known for its burritos packed with a choice of more than 20 fresh, flavorful ingredients, the menu also features kid's, vegetarian and low-calorie options, all served with free chips and salsa.
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