FSC Franchise Co., the parent company of the nearly 150-unit Beef ‘O’ Brady’s restaurant chain and 40-plus-unit bar/eatery concept The Brass Tap, experienced positive growth with both brands in 2022. This year, the sister franchises celebrated positive comp sales, a combined 10 new locations opened, and 34 new franchise agreements signed, ending the year with a pipeline of 90 potential future locations.
”Our brands have sustained steady growth in a challenging environment this year, and we look back on 2022 feeling very proud of our progress with Beef ‘O’ Brady’s and The Brass Tap,” says Chris Elliott, chief executive officer of FSC Franchise Co. “Our franchise system continues to gain momentum in all areas.”
Beef ‘O’ Brady’s opened four locations throughout the year and executed deals for five additional units. Six locations of The Brass Tap opened in 2022, and the emerging brand signed 29 additional deals.
The FSC Franchise Co. brands also entered new target markets this year: with a new Beef ‘O’ Brady’s in Albertville, Alabama, and The Brass Tap opening in Katy, Texas. These new restaurants will bring increased brand awareness for the companies, which have scaled to reach 25 states in the South, Midwest and East Coast and continue to expand to more areas of the United States.
In 2022, FSC Franchise Co. also expanded its internal support network, hiring a new vice president of IT, Jason Saposnik, and a new vice president of organizational learning & development, Alan Rogers. The franchisor launched the FSC World training platform and formed partnerships with CrunchTime, a restaurant operations platform, and Franconnect, a franchise management tool.
The brands rolled out menu innovations this year to adjust for issues with pricing and the supply chain. Beef O’ Brady’s has updated its taco and nacho recipes and has been testing pasta options, while both concepts are trying new pizza and cocktail offerings.
For 2023, the franchisor has major plans in the works for both subsidiary brands. Between the two concepts, FSC Franchise Co. hopes to sign 35 deals and open 22 restaurants over the course of the year. Comp sales are expected to increase by 2.7% for Beef ‘O’ Brady’s and 2.5% for The Brass Tap.
“We’re thrilled about the successes in 2022 and plan for 2023 to be the best year in the company’s history,” adds Elliott. “As our brands mature and grow, we continue to set our goals higher.”
There is still an abundance of white space open for both brands as the companies look toward the coming year. Interested investors have a great opportunity to become franchise owners and open a restaurant under the FSC Franchise Co. umbrella.