Firehouse Subs 9th-fastest growing chain
Firehouse Subs was the ninth-fastest growing restaurant chain in the nation last year, according to restaurant consulting firm Technomic Inc.
The Jacksonville sub chain known for its steamed sandwiches raked in $206 million in sales in 2009, 10 percent increase over sales in 2008, and increased its unit number to 5 percent.
Lorton, Va-based Five Guys Burgers ranked No. 1 on the list that ranked chains with sales over $200 million with $453 million in 2009 sales, a 50 percent increase over 2008 revenue. Oakville, Ontario-based Tim Hortons Inc. (NYSE: THI) ranked No. 2, with $446 million in 2009 revenue, a 23 percent increase. Minneapolis, MN.-based Buffalo Wild Wings Grill & Bar (Nasdaq: BWLD) ranked No. 3, with $1.5 billion in sales, up 22 percent from 2008.
The rest of the ten fastest growing restaurant chains in 2009 were Jimmy John’s Gourmet Sandwich Shop, Wingstop, Noodles & Company, BJ’s Restaurant and Brewhouse, Chipotle Mexican Grill and Potbelly Sandwich Works fast payday loan no faxing.
Founded in Jacksonville by Robin and Chris Sorensen, both former firefighters, Firehouse operates 380 locations in 19 states and has plans to open at least 50 new restaurants in 2010, including its first location in Chicago, and adding St. Louis, Mo., Oklahoma City, Okla. and Pittsburgh, Pa, among others, to its list of markets.
The company’s goal is to operate at least 3,500 restaurants nationwide.
In total, the top 10 fastest-growing chains’ sales accounted for $5.9 billion, a 19 percent increase over 2008. Unit counts grew 16 percent.
Overall, however, the 500 largest U.S. restaurant chains registered a .8 percent annual sales decline in 2009, according to Technomic’s annual report on the top U.S. restaurant chains. Systemwide sales for the top 500 declined to an estimated $230 billion in 2009, down almost $2 billion over 2008.