Who owns potbelly sandwich works

Among the changes are a new look for the restaurants and a new approach to franchising that will dramatically increase its franchise footprint. All new Potbellys will feature an updated store design meant to save money and improve the somewhat chaotic experience that customers currently encounter. Other stores may be retrofitted with those features during their regular renovations. Rather than follow their sandwich down a line, leaning over a tall counter to shout out whether they want to hold the hot peppers or add mustard, customers will find workers standing at a cash register to take their order, with a menu board on the wall behind them rather than the current scattered display, and signage pointing them to where to pick up their completed sandwich.

Workers will make the sandwiches behind a glass counter so customers can still watch the process. Also, Potbelly on Thursday announced it had signed franchise agreements with three experienced restaurant operators that will open 38 new Potbelly shops in Las Vegas, Tampa, Fla. No longer will Potbelly partner with mom-and-pop franchisees who brought passion but tended to require more resources to manage. Going forward it will recruit franchisees with financial backing, a track record and plans to open at least 10 restaurants in major metropolitan areas.

For example, the Las Vegas franchisor already owns several hotels and casinos, while the Tampa franchisor owns 70 locations of a major pizza brand. While the quirky ordering process had character, focus groups revealed that people wanted it to be simpler.

Its identity crisis is among the factors that have dragged on Potbelly in the years since its high-flying IPO in , when it was a darling of the ascendant fast casual segment. But in addition, Potbelly opened too many stores across too many states in a scattershot fashion, leading to underperformance, and tried to boost sales by raising menu prices at a higher rate than inflation or the competition, prompting fewer people to come into its doors, Johnson said.

When Johnson joined Potbelly in December , the company had experienced a 3. He looked forward to the challenge, having been involved in turnarounds at BevMo, the Boston-based movie theater chain Hoyts and Pizza Hut, where Johnson had originally met Welch in the early s when they launched the chain in Eastern Europe after the fall of the Berlin Wall.

The team expanded delivery with DoorDash, launched an ordering app that now has nearly 1. Same-store sales growth improved, turning from negative to flat for two quarters as people spent more at the register. It reports second-quarter earnings next week. If anything it is a plastic folding chair. It probably is comfortable with a little bit of indulgence.

Local musicians from around the community come to play at a Potbelly and have been doing so since when it was still an antique store. These musicians perform all types of music from rock to folk to blues, and even jazz.

It's quite interesting that Potbelly continues to employ local artists even now that it is a publicly traded company and has hundreds of restaurants. This quality makes Potbelly different from all other quick-service restaurants.

One can't help but give a hats off to Potbelly for managing to keep local entertainment as part of its culture. Foolish for Potbelly Oftentimes a local restaurant will capture your heart and grab your loyalty. It may be the food, it may be the ambiance, it may be the live music, or it could be all of these things. There's an old adage that you should invest in what you know, but all too often these local restaurants we all know and love are one-location mom and pop shops that would not dream of having outside owners.

Potbelly gives Foolish investors a chance to invest in something all too rare: a growing restaurant chain with a one of a kind atmosphere, great food, and live music with a mom and pop feel. Discounted offers are only available to new members. Stock Advisor will renew at the then current list price. Average returns of all recommendations since inception.

Cost basis and return based on previous market day close. Investing Best Accounts. Stock Market Basics. Stock Market. Industries to Invest In. Getting Started. Planning for Retirement. Retired: What Now? Personal Finance. Credit Cards. About Us. Who Is the Motley Fool? Fool Podcasts. New Ventures. Search Search:. Nov 17, at PM. Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.