Popeye's 2012 Annual Report Download - page 9

Once again, Popeyes captured the
attention of the quick-service restaurant
industry by opening 141 new restaurants
in 2012. Our 84 domestic restaurant
openings compared favorably to 73 last
year—and put Popeyes among the top
three growing brands in our competitive
set in 2012.
More than 600 new restaurants have
been opened in the fi ve years since
we implemented our Strategic Road
Map, with new restaurant growth
averaging about 6 percent per year.
In sheer numbers, that’s impressive—
matched only by the quality of new
restaurant performance. Thanks to
solid site selection and the high caliber
of our franchise operators, average
fi rst year sales of our new domestic
freestanding restaurants are about
40 percent higher than the overall
domestic system average.
Our franchisee partners opened three
new markets: Syracuse, NY; Great
Falls, MT; and Springfi eld, MA. To help
strategically fuel the overall growth of the
Popeyes system, our company-operated
development strategy included company-
owned restaurant growth with beautiful
new restaurants in Indianapolis, IN and
Charlotte, NC.
Popeyes is also building the foundation
for sustainable growth in international
markets. Total restaurant openings
in 2012 were 57. Initial sales for these
restaurants are trending higher than
the international system average, once
again due to improved site selection,
new restaurant marketing support, and
differentiated brand messaging.
More than three quarters of new
restaurants in 2012 were opened by
existing Popeyes franchisees, signaling
that they are satisfi ed, they are turning
a strong profi t, and they are eager
to open new restaurants. In fact, in a
recent survey report, over 75 percent of
our franchisees said they would likely
develop or acquire additional Popeyes
restaurants in the future.
Popeyes’ accelerated growth is driven
by the excellence of our brand, our
operating systems, and our disciplined
real estate selection, including expansion
into under-penetrated areas such as
Minnesota and California. Our distinctive
heritage and focus on the franchisee
sets Popeyes apart from other quick-
service restaurants, creating a value
proposition that brings guests, and our
franchisees, back for more and delivers
exceptional results for AFCE investors.
A New Orleans native, and grandchild of Leah Chase, one of Louisiana’s iconic chefs, Victor Haydel
is President of 755 Restaurant Corporation in Atlanta, GA. Fourteen years ago, he built his fi rst
restaurant. Today, his group of 21 restaurants helped lead the Atlanta market to record the highest
average unit volumes in 2012 among domestic markets with more than 10 restaurants.
GROWING TOGETHER
“ Once I realized Popeyes has higher sales
and profi tability along with the same or lower
development costs, I built more Popeyes and
divested of other restaurant brands.” — Victor Haydel
Accelerate
Quality Restaurant
Openings
2012 ANNUAL REPORT 7