Fazoli's announced today the signing of a multi-unit deal with new franchisees, Impact Hospitality Group. In addition to acquiring two existing locations in Columbia, South Carolina, the group also has plans to develop five additional restaurants in and around the Columbia area over the next few years, with the first location slated to open in 2019.
"As we look back on the success Fazoli's has achieved in 2018, and ahead to the many exciting initiatives and campaigns we have in place for 2019, we are thrilled to be welcoming an esteemed group of franchisees like Impact Hospitality Group to help us make those plans a reality," said Carl Howard, President and Chief Executive Officer of Fazoli's. "Being able to attract this level of talent to the brand continues to speak volumes to the momentum and trajectory of the company. We look forward to the heights this group is capable of taking the Fazoli's brand in the coming years."
Franchise and foodservice veteran, Mike Lokhandwala, will lead Impact Hospitality Group's efforts. Lokhandwala brings to the Fazoli's system no shortage of experience, as a current multi-unit and multi-concept franchise owner of Wingstop, Huddle House and Church's Chicken. Having experience in nearly every facet of the foodservice industry, Lokhandwala began his career as a chef at Popeye's, diligently working his way up the ladder to managerial positions, until eventually pursuing an entrepreneurial career in franchising. Today, Lokhandwala is a true example of the American Dream, owning and operating over 35 restaurants across all four brands. Impact Hospitality Group plans to keep the two Columbia Fazoli's restaurants open, preserving the existing management team to ensure a smooth and seamless transition.
"Standing in a category of its own, the Fazoli's brand aligns perfectly with our preference for company's that are truly differentiated and that have turned around with compelling unit economics," said franchisee Mike Lokhandwala. "Benefiting from very strong leadership under Carl Howard, the Fazoli's brand has achieved great momentum in the past few years and we are truly excited and privileged to be the ones to shepherd the Fazoli's restaurants into their next phase."
To further this momentum, the brand continues to seek like-minded and experienced multi-unit operators who are interested in developing the concept further nationwide by offering aggressive development incentives. Elements of the incentive offering include royalty and initial fee discounts, as well as matched marketing contributions.
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