FranchiseWorks.com | Restaurant Franchise
5 & Diner Partners with Cassidy Turley, Northboro Builders to Boost New Restaurant Growth Capabilities. 50's-style restaurant franchise
forms Strategic Partnerships to help with Re-Launch of franchise program
Maynard, MA (December 22, 2011) – As part of its aggressive franchise growth
plan to bring back the roadside diner experience across the country, restaurant franchise
5 & Diner has announced strategic relationships with retail commercial real estate service provider Cassidy Turley and retail construction specialists Northboro Builders, to help potential franchise
owners with site selection and store build outs.
What started in 1989 as a one-store concept in Phoenix quickly became known throughout the region as the most authentic, unique, and cool ‘50s diner experience in the country. The franchise, which has developed over the years to 12 locations in five states, is entering a new stage of growth as it looks to propel the brand name throughout the Northeast and Mid-Atlantic regions by attracting new franchisees with a fresh prototype, revamped menu and new leadership.
5 & Diner’s relationship with Cassidy Turley, a leading commercial real estate services provider, will ensure proper execution of site search and real estate processes.
“We’re looking forward to partnering with 5 & Diner and supporting their identification and selection of properties across the nation,” said Rick Bagy, Vice President of Cassidy Turley. “We’ve built a scalable growth model that enables our restaurant and retail clients to open more than 4,000 locations annually and we’re excited to help 5 & Diner reach their growth goals with the right locations.”
In addition, the partnership with Northboro Builders will assist franchisees with turn-key packages that include architecture, construction, project management and permitting, for opening new restaurants.
“I have been working closely with 5 & Diner as they plan their national expansion of the brand. I applaud the team they have assembled and their dedication to enhancing the concept and having the best product possible for their new franchisees,” said Ken Nahigian, Vice President of Business Development & Operations with Northboro Builders. “Northboro Builders is unique in our complete turn-key approach to national franchise build-outs and we look forward to contributing to 5 & Diner’s inevitable success.”
To help attract new franchisees, 5 & Diner has launched a new prototype designed to lower development costs and introduce a non-freestanding development option. The authenticity and unique nature of the business means that franchise competition
is nearly nonexistent – as an authentic ‘50s diner concept, 5 & Diner isn’t just another burger joint or family dining chain. And with locations currently in five states there is plenty of room to grow. Typical development costs range from $450,000-$750,000 and the average unit sales volume is more than $1.1 million.
Heralded and loved for its classic ‘50s décor complete with chrome, bright lights, juke boxes and open seating, 5 & Diner is cashing in on the $33 billion family dining segment.
About 5 & Diner
Founded in Phoenix, Arizona in 1989, 5 & Diner has become known for its no-holds-barred ‘50s flashback theme, top-quality food at an affordable price, and award-winning burgers and shakes. Currently with 12 locations across five states, 5 & Diner prides itself on providing the customer with the most authentic ‘50s diner experience in America. In 2008, 5 & Diner was purchased by Bob and Laurie Watson of LPM Holding Company, Inc. with a vision to spread the company across the nation and share the joy that it brings them everyday.
About Northboro Builders
Northboro Builders, Inc. is a retail construction specialist established in 1998 that provides self-performing construction and project management for retail store projects nationwide. The company offers complete turn-key packages which include architecture, construction, project management and permitting. From coast to coast, Northboro gives every job the same meticulous attention to detail while setting and meeting tight deadlines. Visit www.northborobuilders.com
for more information.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,400 professionals in more than 60 offices nationwide. The company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $18 billion in 2010, manages 455 million square feet on behalf of private, institutional and corporate clients and supports more than 25,000 domestic corporate services locations. Cassidy Turley serves owners, investors and occupiers with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. In 2010, the firm enhanced its global service delivery outside of North America through its partnership with GVA. Visit www.cassidyturley.com
for more information.
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