After recently receiving better than expected fourth-quarter earnings, Shake Shack is getting ready for a massive expansion in 2018. Shake Shack currently has several locations across the U.S., Bahrain, Japan, Kuwait, South Korea, and several other countries.
The CEO of Shake Shack, Randy Garutti, recently announced in a statement that they “delivered another year of robust global growth, opening 26 new company-operated domestic Shacks and 19 net licensed Shacks, representing a nearly 40% increase.” The Shake Shack company first expects same-store sales to be stagnant in 2018 due to a 2% price increase that was implemented in December 2017. On average, the company earns $85,000 a week.
Shake Shack is expected to open between 32, and 35 new restaurants in the U.S. in 2018, which is the largest number of openings in one year in the company’s history. By the end of 2020, they plan to build more locations and double the number of Shake Shack’s that were opened in 2017 and that would increase their revenue to over $700 million. Shake Shack plans to have at least 200 locations in the U.S. and 120 globally licensed locations by 2020.
If you are thinking about expanding and opening more restaurant locations this year, let us know. We’d love to send you a proposal! Contact us with any questions or comments.