Smashburger, a fast casual “better burger†concept recently launched and funded with $15 million by private equity and concept development firm Consumer Capital Partners (CCP), has secured its third franchisee and “Founders Club†member, SB Alamo Development, LLC. This latest franchise agreement brings the total number of Smashburger franchise locations to 105, as well as a 10-store joint venture, announced since October, 2008.
Based in San Antonio, SB Alamo Development, LLC principals Lawrence F. Harris, Allen J. Jones and Jason R. Kemp collectively bring over 80 years of restaurant industry experience to Smashburger with brands such as Pizza Hut, PepsiCo Foods International, Boston Market and Applebee’s. In addition, Harris, Jones and Kemp currently operate 22 Buffalo Wild Wings, 30 Little Ceasers and 15 Zio’s Italian Kitchens. SB Alamo Development is Smashburger’s third “Founders Club†member—a designation reserved for only the first five large franchisees to join the Smashburger team. “Founders Club†members will provide valuable input on the future direction of Smashburger and will act as field counsel on critical decisions as Smashburger grows.
“It is a testament to the Smashburger management team and the strong partnership that exists with CCP that 105 franchise locations have signed on within a period of about three months,†said David Prokupek, Managing Partner and Chief Investment Officer of Consumer Capital Partners. “We know that corporate growth will take us only so far in our quest to be the top ‘better burger’ in the country, which is why partnerships with quality franchisees like SB Alamo are critical. The talent, experience and reputation of Larry, Allen and Jason, adds further validity to the Smashburger model and will undoubtedly be a benefit in attracting additional quality franchise and joint venture partners in the future.”