MOD Pizza, the fast casual pizza, has provided a 2016 growth outlook which includes plans to double its store base to nearly 200 locations.
MOD said it would continue to build upon its rapidly growing footprint primarily through company-owned locations, which will be complemented by a select number of multi-unit franchise partnerships.
In addition to entering six new markets in the US, including Kansas, Kentucky, Missouri, Ohio, South Carolina and Wisconsin, it also debut its first international location in the UK this year.
The company opened 61 new locations in 2015 and expanded into eight new states, adding 1,300 employees, and raising $45m of equity to fund growth.
It ended the year with 92 stores (including 80 company-owned locations), revenue growth of over 200% to over $60m and same-store sales growth of 12.4%.
The company added two new domestic multi-unit franchise partners this year, bringing its pipeline of US franchise stores to 149.
Internationally, the company announced its first global commitment with Sir Charles Dunstone and Roger Taylor to bring MOD to the UK during the first half of 2016.
The group said it would continue to pursue its strategy focused on growing company-owned stores supported by highly qualified franchise partners, to grow the brand domestically and internationally.
“We are very pleased with our growth in 2015, and believe our success in an increasingly competitive fast casual marketplace is a testament to the quality of our food and the unparalleled experience delivered by our MOD Squad,” said Scott Svenson, co-founder and chief executive of MOD Pizza. “As a purpose-led organization, we believe that a business can succeed by putting its people first, while offering consumers an authentic, affordable and fast dining experience. We remain committed to sharing our unique concept with new consumers and look forward to bringing MOD to many new markets in 2016.”
