Dirty soda restaurant brand Swig names Rian McCartan CEO

Former Berkshire Hathaway executive will lead the growing brand with majority investment from Savory Fund Former Berkshire Hathaway executive will lead the growing brand with majority investment from Savory Fund. Swig, named Rian McCartan as its new CEO on Thursday. McCartan is the former vice president of global retail and real estate for See’s Candy, a Berkshire Hathaway company. McCartan has also held leadership positions with American Eagle Outfitters, Williams-Sonoma Inc., and Skechers U.S.A. In June 2020, Swig received a majority investment from Savory Fund, a private equity group based in Salt Lake City with investments in nine emerging restaurant concepts.                              -----------  

  

Jack in the Box opens off-premises-only unit in Q4 

Jack in the Box Inc. in its fourth quarter introduced a new off-premises-only restaurant prototype in Tulsa, Okla., the company said Tuesday.

“We've made big strides in updating guest touch points with a more modern Jack spin, including our new web and app ordering experience, updated menu boards, team member uniform, packaging and, of course, our new restaurant design for the future,” said Darin Harris, Jack in the Box CEO, on an earnings call with equity analysts after releasing earnings for the fourth quarter ended Oct. 2. Jack in the Box also owns the Del Taco brand.

One goal of the new prototype is to reduce buildout costs by around 20%, while also increasing real estate flexibility, the company said. The new model is designed for free-standing locations, but it can be adapted to fit convenience stores, travel plazas and end-cap locations. 

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Multiple Celebrities Invest in Emerging Concept PopupBagels

The capital will be used to grow throughout the Northeast and to build the corporate leadership team. 

The capital round was led by Hollywood producer John Davis, who also incubated Blaze Pizza, Wetzel's Pretzels, and Dave's Hot Chicken. Private equity firm Tastemaker Capital and branding agency Red Antler were also part of the funding round. Angel investors include GrubHub Seamless cofounder Paul Appelbaum, experienced portfolio manager Sam Hendel, Matt LaCasse, CEO of pancake mix company Birch Benders, actors Paul Schwarzenegger and Paul Rudd, and athletes JJ and TJ Watt. Strahan invested alongside his business partner, Constance Swartz-Morini. 

The company began as a backyard pickup window business early into the pandemic and has developed into multiple pop-up locations in Connecticut and New York City. The bagels are only sold in advance by the dozen with two schmears, which includes flavors like Grilled Scallion, Dill Pickle, UTZ Cheeseball, and Chili Crunch Butter. The company has been recognized as the "Best Bagel" at the annual Brooklyn Bagelfest for two straight years.  

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 Steak ‘n Shake's Transformation Remains a Work in Progress

Thirty-nine corporate locations remain closed as refranchising continues. Steak ‘n Shake intends to emerge from COVID-19 reimagined across two areas: Firstly, structurally as it continues a 2018-hatched transition labeled the “franchise partnership program.” Designed to cover Steak ‘n Shake’s system with single-unit, entrepreneurial-minded operators, the brand asked franchisees to make an upfront investment of just $10,000. Steak ‘n Shake then constructs the site, pays for equipment, and assesses a fee of up to 15 percent of sales as well as 50 percent of profits. The chain spent about $50 million in capital expenditures to do so (remodeled interiors, new point of sale, self-order kiosks), roughly $40 million of which came in fiscal 2021. The capital outlay through 2021 averaged about $160,000 per unit.

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Russian McDonald's successor solves franchise problem as more outlets join

MOSCOW, Nov 28 (Reuters) - The successor to McDonald's in Russia is set to add nine more restaurants to its portfolio next month, as a former franchisee of the global hamburger chain agreed to join the new brand, resolving a conundrum for the new owners.

McDonald's Corp MCD.N ceased operating in Russia soon after Moscow sent its armed forces into Ukraine, and exited fully when it sold all the restaurants it owned to a local licensee in May. Vkusno & tochka ("Tasty and that's it") restaurants started opening in June.

Rosinter's restaurants, at train stations and airports in Moscow and St Petersburg, continued operating without McDonald's signs, which were covered up. Reuters found some McDonald's packaging still in use after the closure.

 

"We have now signed agreements with all our franchisee partners and plan to cooperate effectively with them, expanding our business," said Karina Pogosova, Vkusno & tochka's senior vice-president for development and franchising. 

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Cannabis Franchise Holistic Connection Takes ‘Farm-to-Table’ Approach

Holistic Connection Founder Mike Soloman compares his cannabis retail shop and bar experience to that of a wine tasting, where the servers are knowledgeable and can help an experienced or novice guest find something they’d enjoy.

The brand’s biggest sellers are edibles and infused drinks—think of a margarita with THC instead of tequila.

Holistic Connection has its first restaurant and cannabis bar combo open in Nashville, called Buds & Brews. Sauces and a few desserts are infused with THC. Soloman said it’s the first cannabis restaurant in the state. It opened a few months ago, “and it’s getting a lot of praise,” Soloman said. He’s also franchising the concept.

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