Not Your Average Growth

BOSTON-Executives at area restaurant chain Not Your Average Joe’s have serious growth ambitions. The Dartmouth, MA-based private company currently operates 10 eastern Massachusetts units, but is striving to bring that to more than 50 in multiple regions the next four years, according to Stephen Silverstein, Not Your Average Joe’s chairman and CEO, who spoke yesterday here at CIBC World Markets’ Consumer Growth Conference.

“While we are the smallest company at the conference,” he said. “We are the company with the biggest opportunity ahead of us.” The chain, founded in 1994, will open two more restaurants this year and six openings are planned for 2006. Silverstein forecasts a 40% annual growth rage for the company.

In its current eastern Massachusetts market, Not Your Average Joe’s has a potential for 25 to 30 units, Silverstein said, and the company will soon enter new markets. Two of next year’s six openings will be in Connecticut. “We’re going to work our way out [of the region] slightly and then make a leap in 2007,” he said. Not Your Average Joe’s is looking at spaces in lifestyle centers and other suburban neighborhood locations.