Reputation Management
Akira: Here Are The Fastest Growing Restaurant Chains in 2024
What are the fastest growing restaurant chains in 2024? View our list of the fastest growing restaurant chains by data category.
Confession time. When we went to research "fastest growing restaurant chains" on Google, there wasn't a clear answer. In fact, each article we researched had almost an entirely different list.
And that's because what exactly does "fastest growing" mean? Is it in terms of sales? Revenue? Number of new restaurant locations?
Here at Akira, we're BIG believers in leading with data. Which means clearly explaining what metrics we use for each data point (like for our game-changing sentiment scorecard).
So for this list, we thought it would be fun to take a different approach, and showcase fastest growing restaurants by data category.
Without further ado, here's the list.
Fastest Growing Restaurant Chain With Under 100 Locations: 110 Grill
Nation's Restaurant News published a study of the fastest growing small (under 100) restaurant chains. Boston-based 110 Grill, known for its contemporary casual American cuisine, got the nod thanks to a 15.4% growth in YoY sales to eclipse $136 million.
110 Grill's Recipe for Success:
110 Grill is thriving due to their unique market strategy and offerings:
- Company-owned locations: All of their locations are company-owned, giving the restaurant chain greater control over operations.
- Warm, inviting atmosphere: All of 100 Grill's locations feature a U-Shaped bar, a lounge, a traditional restaurant area, and a patio with an inviting firepit. Customers enjoy the consistent, inviting experience.
- From scratch food: 110's American-focused cuisine is made from scratch and includes a wide-array of offerings at affordable pricing, including gluten-free.
Fastest Growing Restaurant Chain With Net New Locations: Cava
Cava was the common denominator found in most of my searches. The Mediterranean fast-casual darling has had an explosive couple of years—complete with a 2023 IPO and record-breaking growth this year so far. In 2023, they opened 70 new locations. By the end of 2024, they're targeting to open 54 locations during the calendar year.
Cava's Recipe for Success:
- Company-owned locations: We're sensing a bit of a trend here. Like 110 Grill, Cava is also company-owned in an effort to provide a consistent brand experience across their growing number of locations.
- Limited SKUs, limitless possibilities: Cava focuses on fresh, high-quality mediterranean-inspired ingredients to build bowls. They prioritize limiting ingredients for cost effectiveness and quality control but that doesn't mean they skimp on flavor, and the way you can mix and match ingredients is expansive.
- Focus on customer experience: Cava has an in-house app and team dedicated to providing a seamless ordering experience. They are hyper-focused on user experience, and know it's an important aspect to encourage long term growth.
Fastest Growing Restaurant Chain Based On Future Openings: McDonald's
After all these years, people are still lovin' it—it being McDonald's. The biggest burger chain in the world just keeps getting bigger.
According to Eat This Not That, McDonald's has plans to eclipse over 50,000 locations worldwide by 2027, which would be the fastest period of growth in the company's history.
McDonald's Recipe for Success:
- International expansion: McDonald's sees nearly 60 million customers daily, largely in part to its many international locations. International expansion has long been part of McDonald's growth strategy, and it's paying off. China is now its second-largest market in the world.
- Deep pockets: You have to make money to spend money, right? And in terms of money, McDonald's has an endless supply to invest in restaurant technology, customer experience, and more.
- Consistency: Recently, I was overseas. And while I rarely visit McDonald's in the States, I popped in to try it out in Paris. Why? I just wanted some American fries. The nostalgia and consistency of McDonald's, no matter where you are in the world, is no doubt a major contributor to their ongoing success.
Fastest Growing Restaurant Chain Based On Organic Growth: Just Salad
Restaurant Business Online wanted a more accurate depiction of "fastest growing restaurant chain", so they created a new methodology. They eliminated new restaurant locations as part of the equation to try and understand true organic growth.
What they wanted to uncover: If a chain stops opening new restaurants, will it still be able to grow YoY?
According to their findings, Just Salad, a (you guessed it!) salad concept saw organic growth reach 62.5% in 2023. The largest contributing factor to that growth was sales, with same-store sales growing 18%.
Just Salad's Recipe for Success:
- Sustainability: Just Salad is a certified B corp, meaning they meet the high standards set for social and environmental responsibility. They were the first chain restaurant to carbon label their menu, and are very focused on reducing waste and sourcing food responsibly. These efforts have led to a devout following.
- Digital marketing efforts: Just Salad has invested heavily in digital marketing, and it's paying off with 50% of it's business hailing from those efforts. They know their ICP is active on social, so their heavy online presence and partnerships with chefs and other influencers is paying off.
Final Thoughts: The food chains need online reputation management software, and fast.
The higher you climb, the harder you fall. What goes up must come down. We can't think of any other adages right now, but you get the point.
The rapid rate of growth for the above restaurant chains is exciting, but also comes with some major stakes. There are countless patrons to please, and an ever expanding opportunity to make some inevitable mistakes.
Which is why these restaurant chains (and every restaurant chain, for that matter) need an online reputation management strategy. One that can easily streamline all of your guest feedback and reviews into one place, and automate your response and online listings.