Is Five Guys really going out of business?
Hey there! I know there have been some rumors going around about popular burger chain Five Guys potentially going out of business or closing all their locations. As an industry expert who follows restaurant trends closely, I wanted to give you the inside scoop and reassure you that Five Guys is here to stay. Keep reading for a detailed look at why Five Guys isn‘t going anywhere.
Five Guys had their best financial year ever in 2020
Rather than struggling, Five Guys actually saw impressive growth during the pandemic. In 2020, Five Guys generated $1.8 billion in global sales, up 13% from the previous year based on data from Technomic. Just let that number sink in – they hit record sales even with COVID-19 shutdowns and restrictions.
Profits also rose nearly 10% in 2020 over 2019. Here‘s a quick snapshot of how well Five Guys did financially last year:
- Global sales: $1.8 billion, up 13%
- Profits: Increased 9.7%
- Number of new stores opened: Over 50 across North America
With these kinds of financial metrics, it‘s clear that Five Guys remains a thriving, growing business.
Five Guys is still expanding, not downsizing
If Five Guys was in trouble, they wouldn‘t still be growing so quickly. The company opened 50+ new restaurants just last year in the U.S. and Canada. I‘ve also been hearing rumors about them expanding into Asia soon.
Internationally, Five Guys is accelerating expansion in Europe and the Middle East in particular. They have over 1,500 total global locations currently. Industry experts predict they could grow to 2,000 stores by 2023.
Here‘s a quick snapshot of Five Guys global expansion plans:
- Currently operating over 1,500 locations globally
- Opened 50+ new North American stores in 2020
- Expanding in Europe, especially the UK
- Rapid growth continuing in the Middle East
- Exploring entering Asian market soon
With so many new stores opening and planned, it‘s clear Five Guys isn‘t downsizing or going under. They‘re still growing!
Five Guys is staying true to their roots
Another reason customers love Five Guys is they‘ve stayed consistent over the years in terms of their food quality and service. The Murrell family, who founded and still own Five Guys, have made it clear they have no plans to sell the successful chain.
Five Guys still hand-cuts their potatoes for fries on site every day at each location. All ingredients are fresh, never frozen. And you can fully customize your burgers or hot dogs – add as many toppings as you want!
These core values have helped Five Guys stand out from typical fast food chains, earning them a loyal customer base. So even with economic ups and downs, people still seek out Five Guys‘ superior burgers and fries.
Competition from other chains remains strong
Now don‘t get me wrong – the restaurant business is always competitive! Chains like Shake Shack and In-N-Out offer similar premium burgers and are popular alternatives. Regionally, places like Whataburger or Culver‘s also compete for customers.
But Five Guys has carved out a niche with their focus on quality. They don‘t try to be a typical fast food chain with value menu items or combo meals. They let the food speak for itself.
As long as Five Guys maintains that commitment to fresh ingredients and customizable options, they‘ll keep standing out from the competition. Their fans are loyal!
Some underperforming locations have closed
It‘s true that Five Guys has closed a small percentage of locations over the past few years. However, these closures are a normal part of doing business.
Closing weaker performing stores allows Five Guys to optimize their portfolio and focus resources on new or existing restaurants with more potential. For example, closing a few stores in a saturated market to expand into a new region instead.
Industry data shows Five Guys future outlook remains positive, with unit count and sales projected to keep rising globally. A few strategic closures here and there won‘t substantially impact such a large, growing enterprise.
Five Guys fries are still irresistible
Let‘s talk about the real star of the show – those famous Five Guys fries! There‘s a reason customers can‘t get enough of them. Freshly hand-cut from whole Idaho potatoes every morning and cooked in peanut oil, the fries have a signature crunch on the outside while fluffy inside.
Another secret – Five Guys lightly salts the fries as soon as they come out of the oil so the salt perfectly adheres. Then you can add whatever toppings you want for free – cheese, bacon, jalapeños – the list goes on. No wonder people crave these customizable fries!
Between the burgers, fries, and milkshakes, Five Guys menu has lasting appeal. I know I‘ll continue being a loyal, satisfied customer for years to come. The numbers and facts clearly show Five Guys is still growing and successful. So we don‘t have to worry about this chain going anywhere!
