Why Real Estate is More Important than Ever to Firehouse Subs®
The COVID-19 pandemic has impacted every kind of business across the country in one form or another. Below, we take a brief look into how commercial real estate has changed and the opportunity that provides new and existing Firehouse Subs restaurant franchise locations.
Given the trust we have created with our customers and our recent investments in our Rapid Rescue To Go® and delivery platforms, Firehouse Subs has seen some record sales despite COVID-19. From the onset, the new systems and procedures we put into place in just days proved to be invaluable to our franchise operators and their guests. That kind of commitment to guest and team safety, along with our operational adjustments have allowed us to weather these unprecedented times rather uniquely.
“Before the pandemic, the commercial real estate market was very dynamic and competitive with many different retail, restaurant and commercial concepts constantly vying for the best locations to place their business,” said Brent Greenwood, Firehouse Subs director of franchise development. “But now that COVID-19 is a factor, the real estate markets are already starting to loosen. We are seeing more opportunities for growth than we have in a long time.”
When looking at new or existing real estate, the Firehouse Subs real estate team looks at a variety of specifics when evaluating the best restaurant franchise location opportunities, including these key criteria: demographics, psychographics, property size, price, zoning, traffic counts and nearby synergy partners as well as primary competitors.
“We take great pride in the locations we’ve established around the country and in our continued growth,” said Greenwood. “A lot of that stems from our ability to identify the right type of real estate for the best restaurant franchise opportunities. Since the onset of COVID-19, our entire team has seen a shift in how we do business, from amplified curbside, to-go and delivery services to increased social distancing and safety measures in our dining rooms. We feel extremely confident in our ability to grow and that thought is buoyed by the sales our system has enjoyed this summer.”