In an effort to restore the restaurant industry, Twin Peaks is amplifying its development through a tested conversion strategy.
Over the past eight years, Twin Peaks has refined a conversion program that takes available real estate with a kitchen and looks for cost-effective solutions to rebrand the building. Franchisees take on a lower cost of entry, as well as a lower build-out cost when converting a building into a Twin Peaks as opposed to building from the ground up.
“This is a very challenging time for the industry, leaving us with many empty restaurants lining the streets,” says Twin Peaks CEO Joe Hummel. “We want to revitalize the current state with our proven conversion strategy where existing real estate is key. We are able to utilize the structure of these existing boxes while adding unique characteristics of the Twin Peaks DNA to fit into every neighborhood and business district structure. You can take a good corner and a building with strong infrastructure and change it up efficiently to see financial results while boosting the local economy.”
To-date, 90 percent of existing Twin Peaks restaurants are conversions. The ideal space for a conversion site holds 6,000-12,000 square feet, includes outdoor seating options and has more than 150 parking spaces available. The current Twin Peaks development team is very creative in utilizing various sized spaces to be able to successfully include multiple bars, indoor and outdoor components, cigar bars and fireplace settings where appropriate. Additionally, Twin Peaks is now offering an aggressive franchise incentive program that waives franchise royalties for franchisees during the first year of opening a new Twin Peaks restaurant.
“Business can be great in 2021 and beyond – now is the time to invest,” Hummel said. “Our franchise incentive program makes it the best time to convert a building into a Twin Peaks restaurant. Right now, our industry is being challenged, but the culture of restaurant operators has always been able to survive and that’s what makes it so special. We bounce back, get creative and find ways to continue to deliver with hospitality. Operators have hospitality running through their veins, which allows us to be resilient regardless of the hardships we face. We are looking toward the future, sharing our findings, our financial clout and the value proposition we bring so that we can contribute to strengthening the industry.”
