Smashburger signs franchise agreement for Iowa
According to a report published on the website, businesswire.com, Smashburger, a fast-casual restaurant concept launched and funded by Consumer Capital Partners (CCP), has signed an agreement with its eighth franchisee, Smashguys LLC, to bring 16 Smashburger restaurants to Central Iowa. This latest agreement, the report reveals, brings the total number of Smashburger franchise locations to 167.
Scott Crane, president of Smashburger, is quoted as saying, “Smashguys is a veteran franchisee with extensive restaurant and food service experience, and the agreement allows us to build even stronger market share in the Midwest. Being from the Midwest, I know Midwesterners love their burgers. Smashburger is a proven concept and well on its way to becoming the region’s favorite burger place. Smashguys shares our vision, and we’re thrilled to have them on board.”
Denver-based Smashburger, which is owned by private equity and concept development firm Consumer Capital Partners (CCP), has sold franchise agreements that assure 200-plus locations over the next five years. According to the information provided, Smashburger is planning to open 500 restaurants across the country. (kbp)