23rd April 2018
For a long time, restaurants were focused on providing homogenized meals at the fastest pace possible. These days, customers aren't just looking for uniformity and speed of service, they want an experience.
Companies that have been able to adapt to these changing needs have found their booths filled with hungry customers and their sales skyrocketing.
There are 177 restaurant brands that each generated at least $200 million in U.S. systemwide sales in 2017, but some are growing faster than others, according to Mark Kalinowski of Kalinowski Equity Research.
Systemwide sales include sales from company-owned and franchised locations, but not any royalties or franchising fees.
Kalinowski looked at the sales growth of each of the companies to determine which had the biggest percentage change between 2016 and 2017. While these restaurants may not have made the most money in 2017, they saw the biggest jump in sales.
Here's a look at the restaurants that are growing the fastest in the industry:
5. Cooper's Hawk
Full-service concept Cooper's Hawk Winery and Restaurant saw its systemwide sales grow more than 30 percent in 2017, to $241.8 million.
The restaurant, which was founded 13 years ago, is basically the largest wine club in the U.S., with more than 300,000 members. Its menu suggests wine pairings for all of its dishes and provides members with discounts and exclusive programs.
Members also receive a bottle of wine each month, which they can pick up at a Cooper's Hawk restaurant. They can either take the bottle home or crack it open and pair it with a dish at the restaurant.
The company does not do traditional advertising, instead relying on partnerships with celebrity chefs to market to customers.
Cooper's Hawk is sometimes grouped with a new breed of entertainment-dining venues, sometimes called eatertainment, because of its interactive and experiential nature. As of the end of 2017, the company had 30 locations in the U.S.
Source: Sarah Whitten, CNBC.
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