CHALLENGE
Famous Toastery was seeking a brokerage team that they knew could assist them with both corporate and franchisee leasing activities. As a rapidly growing company, they wanted to build a long-term relationship with a real estate team that they knew could grow with them and understand their needs. They wanted a team that they felt they could trust as their own and that would be knowledgeable about markets throughout the entire United States to help them grow outside their home base in Charlotte, NC.
ACTION
LTP put together a detailed plan showcasing their ability to research new markets using local and regional broker support, innovative tools and software, as well as built-in administrative support to analyze and present the best site options to Famous Toastery (both corporate and franchisees). After laying out this plan, LTP began working on various markets for Famous Toastery around the country. LTP used their understanding of the Famous Toastery brand to find a space in each territory that not only fit within the framework Famous Toastery was looking for as a brand, but also took into account the best economics, availability, and desirability in each market.
RESULT
LTP’s dedication to The Famous Toastery brand and franchisees resulted in:
- Famous Toastery growing from 9 to 19 locations with an additional 16 locations scheduled to open in the next six months.
- LTP eliminated the need for Famous Toastery to spend time and resources hiring an internal real estate team, which allowed them to spend more time training and recruiting franchisees.
- LTP’s help ultimately allowed Famous Toastery to spend more time and energy on the business development side rather than having to micromanage real estate decisions.