Freddy's Frozen Custard & Steakburgers Company Profile

Background

Freddy's Frozen Custard & Steakburgers is a fast-casual restaurant chain founded in 2002 in Wichita, Kansas, by brothers Bill and Randy Simon, along with their business partner Scott Redler. The establishment was named in honor of the Simon brothers' father, Freddy Simon, a World War II veteran awarded the Purple Heart and Bronze Star. The restaurant's mission is to provide high-quality, cooked-to-order steakburgers and freshly churned frozen custard, served with genuine hospitality in a family-friendly environment.

Key Strategic Focus

Freddy's strategic focus centers on:

• Quality and Consistency: Ensuring that every meal is prepared to order using premium ingredients, maintaining the brand's commitment to excellence.

• Franchise Expansion: Growing its footprint through franchising, with a goal to reach 800 locations by 2026.

• Digital Innovation: Enhancing the customer experience by integrating digital ordering platforms and loyalty programs to meet evolving consumer preferences.

Financials and Funding

In March 2021, private equity firm Thompson Street Capital Partners acquired Freddy's Frozen Custard & Steakburgers for an undisclosed amount. As of September 2024, the company reported revenues of $925 million, with projections to approach $1 billion by the end of 2024.

Pipeline Development

Freddy's has demonstrated robust growth:

• 2023: Opened 62 new restaurants, surpassing previous records and bringing the total to over 500 locations across 36 states.

• 2024: Plans to open an additional 60-70 locations, including expansion into Canada with the first restaurant set to open in 2025.

Technological Platform and Innovation

Freddy's has embraced technology to enhance operations and customer engagement:

• Digital Ordering and Loyalty Program: Partnered with Tillster to develop a comprehensive digital ordering system and loyalty program, improving customer convenience and engagement.

• Operational Efficiency: Implemented kitchen display systems and optimized kitchen layouts to improve order accuracy and speed.

Leadership Team

• Chris Dull: President & CEO since May 2021. Previously served as CEO of Global Franchise Group, overseeing brands like Round Table Pizza and Great American Cookies.

• Scott Redler: Co-founder and Chief Operating Officer, instrumental in establishing the brand's operational standards and menu development.

Leadership Changes

• 2021: Chris Dull appointed as CEO, succeeding co-founder Randy Simon.

• 2022: Brian Wise joined as Chief Operating Officer, taking over operational responsibilities from co-founder Scott Redler.

Competitor Profile

Market Insights and Dynamics

The fast-casual dining sector has experienced significant growth, with consumers seeking quality meals in a quick-service format. Freddy's competes in this space by offering a unique combination of steakburgers and frozen custard, differentiating itself from traditional fast-food chains.

Competitor Analysis

• Culver's: Headquartered in Prairie du Sac, Wisconsin, with outlets in 26 states, offering a similar menu of burgers and frozen custard.

• Andy's Frozen Custard: Based in Springfield, Missouri, with over 140 locations in 15 states, specializing exclusively in frozen custard.

Strategic Collaborations and Partnerships

• Digital Platform Development: Collaborated with Tillster to create a robust digital ordering and loyalty platform, enhancing customer engagement and operational efficiency.

Operational Insights

Freddy's differentiates itself through:

• Quality and Consistency: Maintaining high standards in food preparation and customer service.

• Franchisee Support: Providing comprehensive support to franchisees, ensuring profitability and brand consistency.

• Community Engagement: Actively participating in local events and charitable causes, fostering strong community ties.

Strategic Opportunities and Future Directions

Freddy's aims to:

• Expand Internationally: Enter the Canadian market with plans to open restaurants across nine provinces by 2025.

• Enhance Digital Presence: Continue investing in digital platforms to improve customer experience and operational efficiency.

• Innovate Menu Offerings: Introduce new menu items based on customer feedback and market trends to attract a broader customer base.

Contact Information

• Website: freddys.com

• Social Media:

• Facebook: Freddy's USA

• Twitter: @FreddysUSA

• Instagram: @freddysusa

Note: Specific contact details such as address, phone number, and email are not provided in this profile.