Bennigan's Franchising Co. has partnered with Brixmor Property Group, a large national shopping center owner, to market its casual-dining brand to franchisees at Brixmor properties.
The deal with New York City-based Brixmor calls for the shopping center developer to offer pre-approved restaurant spaces in at least a dozen markets. Bennigan’s also said financing will be available for qualified candidates.
The partnership “will compress the time period from prospect inquiry to restaurant opening,” said Paul Mangiamele, president and chief executive of Bennigan’s Franchising.
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“We are offering a solution to the toughest question any franchisor faces in today’s uncertain economic times: financing,” Mangiamele said. “For our industry, the investment level is higher than most franchise models. With Blackstone-owned Brixmor offering financing to qualified franchisees, Bennigan's has the opportunity to take a quantum leap forward in our domestic development.”
Mangiamele said Brixmor and Bennigan’s have identified potential markets and approved 30 sites.
“Through this program we've put together a full arsenal of weapons to set franchisees up for the path to success,” Mangiamele said, “and intend to revolutionize casual dining by being the first restaurant franchise to provide pre-approved space and financing upfront.”
New York City-based Brixmor has more than 620 properties across the United States, with shopping centers, primarily anchored by grocers or discount retailers, in 39 states, said Steve Kaufman, the company's senior vice president for retailer services and national accounts.
The two companies have identified initial properties for the outreach program, including shopping centers in: California (Escondido), Colorado (Superior), New Jersey (Cinnaminson), North Carolina (Charlotte and Greensboro), South Carolina (James Island and Spartanburg), Tennessee (Greeneville and Hermitage), and Texas (Austin, Fort Worth, Frisco and Pasadena). A second phase has identified properties in: Aurora, Colo.; Royal Palm Beach, Fla.; Ann Arbor, Mich.; and Richfield, Minn.
Dallas-based Bennigan’s Franchising Co. acquired the Bennigan’s brand in 2008 after parent S&A Restaurant Corp., a division of Metromedia Restaurant Group, and affiliated companies filed for Chapter 7 bankruptcy liquidation. Bennigan’s has 34 units in the United States and 46 additional international locations.
Contact Ron Ruggless at [email protected].
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