Franchisor Marketing

According to the Kansas City Star, Houlihan’s Restaurants Inc., is flush with $68 million to spend and is embarking on the next phase of a national expansion that will add 12 new locations by year end.

See the whole article at:  More locations on menu for Houlihans

Here are the highlights:

According to the article, Houlihan’s has 30 company-owned restaurants in some phase of development. Some of those are in new markets, including San Antonio, Dallas, Charlotte, N.C., and Denver.

Houlihan’s is also focusing on developers that can build out entire markets. By year end, the company, which is expected to do $350 million in sales this year, will have 115 locations.

Houlihan’s has recently received a two-part equity infusion. It got $28 million in private equity from Goldner Hawn Johnson & Morrison, a Minneapolis-based investment firm, and a new $40 million senior credit facility from Wells Fargo Foothill Restaurant Finance, which Goldner Hawn helped place.

The investment firms are banking on resumed growth and a new Houlihan’s prototype, which they compare to P.F. Chang’s and Target (?) for its features “clean, modern lines,” open kitchen, and what one investor calls a “tres chic, cool bar.”

Can’t wait to see the new, tres chic Houlihans.  Got to hand it to them for the necessary re-invention.  Now if some other casual dining chains could realize that the eighties are TGI-Over…

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