Honeygrow, the fast-casual restaurant chain, plans to open more than a dozen stores this year after witnessing a significant revenue increase, thanks to new store openings and menu innovation.
The Philadelphia-based company said revenue grew 30 per cent last year as it opened nine new restaurants, expanding to 40 locations across seven states.
Honeygrow also attributed the sales increase to seasonal limited-time offer (LTO) launches such as the Chesapeake Crab Stir-fry, which surpassed previous LTOs in suburban and urban markets during the traditionally slower summer months.
Adjusted EBITDA soared 70 per cent as a result of several initiatives including tight supply chain management, continuous focus on training and people development, and various upgrades to the company’s technology stack.
Last year, the company hired 300 people and further implemented its Elite General Manager program to build, reward, and retain talent.
“From menu development to our EGM program to the folks in our Restaurant Support Center who are helping the people who are helping the customer, our team has been nothing short of incredible,” said Honeygrow founder and CEO Justin Rosenberg.
