How Applebee's is getting its groove backHow Applebee's is getting its groove back

It was just a few years ago that Applebee's was sizzling, but not in a good way.

Franchisees had sunk money into splashy and spendy wood-fired grills and a fancy steak menu, only to see it flop. But now, under new leadership at the top of the brand and at its parent company, Applebee's has righted itself and is turning things around one dollar drink at a time. 

Applebee's sold its first $1 cocktail two years ago in October of 2017. The Dollarita, a $1 margarita, looked at the time like a desperate move by the struggling chain. But it has since become a hallmark of a nascent turnaround driven by a return to the value and accessibility it was once known for.

The Dollarita came on the heels of a period of considerable changes for the brand. I...