Business World |
November 2014
22
alone in 2014. With the new store growth
we are experiencing in the franchise system,
particularly internationally, the Hooters
brand stands to benefit from a meaningful
injection of capital investment.”
According to Whittle, Hooters will con-
tinue to open new company operated stores,
though the annual number will be in the low
single digits. The cost to construct a new
store is influenced by many factors such as
size and location, says Whittle, but he pegs
the average range between $1.5 and $2 mil-
lion. While Hooters' franchisees will be
opening the vast majority of new locations,
Whittle says his design team in Atlanta will
be hard at work looking for additional val-
ue-management opportunities. "Our fran-
chisees finance their construction costs and
any non-value added cost we can eliminate
goes right back into the pockets of our fran-
chisees, providing them with additional fire-
power to invest in growth. Again, it's about
responsible system leadership."
THE WORLD IS A BIG PLACE
According to Whittle, Hooters of America
believes that the franchise model is particu-
larly relevant for international store growth.
"More than half of the stores in our develop-
ment pipeline today will be opened abroad.
