Modern Market Eatery, the beloved chain known for its fresh and wholesome offerings, has found itself under new ownership as Thrive Restaurant Group stepped in as its first franchisee. Acquiring the 29-unit chain in 2022, Thrive wasted no time in making waves in the market.
Embracing the brand's trendy appeal and the growing demand for healthier dining options, Thrive swiftly inked a deal to open an impressive 41 units throughout 2022. Locations spanning across states such as Kansas, Texas, Colorado, Indiana, Missouri, Georgia, and Massachusetts are set to receive the innovative culinary touch of Modern Market.
Thrive's acquisition of Modern Market from Butterfly Equity, the parent company of Qdoba, has sent ripples through the industry as the group focuses its efforts on nurturing the brand. With a portfolio of 194 restaurants nationwide and a keen eye for growth opportunities, Thrive is making strategic moves to solidify its presence in the market.
Operating a Modern Market franchise comes with a price tag ranging from $928,500 to $1.47 million, reflecting the investment required to bring the brand's success to new territories. Based on franchise disclosure documents, the chain saw sales ranging from $2.63 million to $3.07 million in 2023, demonstrating its strong appeal to diners.
In a shift of leadership, Thrive appointed new presidents to oversee Modern Market, alongside other well-known brands like HomeGrown, Applebee's, Qdoba, and Carlos O'Kelly's. With ambitious plans on the horizon, Thrive is also considering franchising its non-franchised concepts and expanding the reach of popular chains like Applebee's and Qdoba.
With a keen focus on refining Modern Market's business model, Thrive aims to pave the way for a successful relaunch of franchising activities. As the industry watches with anticipation, it's clear that Thrive and Modern Market are cooking up a recipe for success that is sure to tantalize taste buds across the nation.
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Thrive Restaurant Group Takes Modern Market Eatery to New Heights with Ambitious Franchise Expansion
HomeGrownApplebee'sthriveThrive Restaurant GroupModern Market EateryCarlos O'Kelly'sQDOBAButterfly Equity
Wednesday 18th September, 2024
Gorilla Dash
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Thrive Restaurant Group Takes Modern Market Eatery to New Heights
- Modern Market Eatery was acquired by Thrive Restaurant Group in 2022, becoming the first franchisee of the 29-unit chain.
- Thrive Restaurant Group swiftly signed a deal to open 41 additional Modern Market units in 2022 across several states, catering to the growing demand for healthier dining options.
- Operating a Modern Market franchise entails an investment ranging from $928,500 to $1.47 million, with the chain experiencing strong sales ranging from $2.63 million to $3.07 million in 2023.
Key Facts:
| New Ownership | Thrive Restaurant Group acquired Modern Market Eatery in 2022. |
|---|---|
| Expansion Plans | Thrive plans to open 41 new Modern Market units in 2022 across states like Kansas, Texas, Colorado, Indiana, Missouri, Georgia, and Massachusetts. |
| Acquisition Source | Modern Market was acquired by Thrive Restaurant Group from Butterfly Equity, the parent company of Qdoba. |
| Franchise Costs | Operating a Modern Market franchise costs between $928,500 to $1.47 million. |
| Sales Performance | Modern Market chain saw sales ranging from $2.63 million to $3.07 million in 2023. |
| Leadership Changes | Thrive appointed new presidents to oversee Modern Market and other brands like HomeGrown, Applebee's, Qdoba, and Carlos O'Kelly's. |
| Future Plans | Thrive aims to solidify its presence in the market by refining Modern Market's business model and exploring franchise opportunities for other popular chains. |
Disclaimer:
If any facts in our articles are incorrect or you would like an article removed please email us at news@gorilladash.com.
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