The pioneer in upscale casual dining opened its 106th and 107th Cheesecake Factories this week, with plans to open a total of 21 units this year. It also will expand its seven-unit Grand Luxe Café brand by two to three units by year-end.
"Upscale casual is a great segment to be in, because the market opportunity is growing and there are few competitors," said David Overton, chairman and CEO of Calabasas Hills, Calif.-based Cheesecake Factory. "We're only in 48 of the top 100 markets, and have not fully penetrated even one of them."
With existing restaurants operating at near-capacity, maintaining a revenue and earnings growth of 20% annually depends on expanding the number of restaurants. The company already has identified 70 to 90 sites that meet its criteria. The average Cheesecake Factory posts $11 million in revenues, despite an average check of $17, and site selection is based on a $10-million sales potential. If markets with an $8-million revenue potential are included, the store count could increase by another 100 restaurants.
Recommended For You
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
