Gourmet Burger Kitchen (GBK) the Capricorn Ventures-backed group intends to open a restaurant each month to reach its target of 100 sites focusing outside of London, CEO Alasdair Murdoch told M&C Report.
The group, which has enjoyed its 13th consecutive quarters of like for like sales growth measured by transactions, announced plans to grow its estate to 100 by 2018.
“I think the last six to eight months we have got back on to the redevelopment and have a more aggressive opening plan and see no reason not to open a minimum of 10 restaurants a year,” Murdoch said.
Murdoch said a large part of the company’s growth will be outside of London saying the group is ”fairly well exposed” in the south east and greater London, but now is ready to continue nationwide expansion.
“We do extremely well in market towns like Guildford and Bath where there is a mixture of tourists, student population and that is hub itself as a destination.”
He said although GBK’s model is not student dependent, the restaurants benefit from two or three of these factors together.
Its most recent sites at Aylesbury and Watford reflect this nationwide ambition; the second Scottish site is due to open in Glasgow this week.
Meanwhile the company has invested in the head office team to build the capabilities to enable the expansion plans. This includes strengthening the acquisitions team with the internal promotion of Keith Harvey and appointment of Douglas Collins, formerly of Pizza Hut. The country has been divided into two parts headed by Collins and Harvey.