Restaurant Chains Are Still Expanding

Louisville Courier-Journal:

The restaurant industry may be suffering from the recession, but Kevin Kynerd is bullish about expanding in Louisville.
restaurant-chain

In August, he and his partners plan to open a Five Guys Burgers and Fries restaurant at The Summit in northeastern Jefferson County. They’ve already opened two other stores in New Albany, Ind., in the past year, and they plan to build 10 more in the Louisville area between now and 2015.

Kynerd, from Birmingham, Ala., navigated the credit crunch by finding a partner who covered the up-front costs for the first two Five Guys franchised locations. The equity in those restaurants will be put up as collateral for future expansions.

“Cash is king,” Kynerd said in an interview. “We’re actively looking for more locations.”

Other restaurant operators are using their own strategies to expand and grow, even as the industry faces stiff challenges.

Read more.

Photo: Bill Luster / The Courier-Journal.

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