four foods group utah

Success is a squiggly line not a straight line to success. Actually, the only regret Ive had since that day is that I didnt make the decision to close sooner. We feel like there are more and more brands that are coming out of this stronger than they went into it.. Your email address will not be published. Companies in America for six consecutive years, a Mountain West Capital Four Foods is a restaurant development, investment, operations and management company.

The restaurant industry (with its scary survival numbers) didnt phase him for a second. Throughout it all, I still think like an operator and I feel that has served me well. And the data likes him. Catch up on the top news and features from KSL.com, sent weekly. For Tobins 14th birthday he asked for a job at Swig. Expansion is an intimidating thought when youre working in the restaurant and theres zero time to focus on it. Smith himself was in the tech world for over a decade before joining the restaurant industry in 2008. Group continues pace as one of the fastest growing restaurant groups in FFG enters the second half of the year with a portfolio of I have worked with and funded many CEOs over the years. It doesnt matter how successful the company is, $20 is still $20, Smith told BusinessQ in 2008. The group will be looking at food and beverage businesses both in and out of Utah. the topline revenue of the Restaurant 200. And hes convinced plenty of other people, too.

You are where you eat. Staffing, good managers, customers, food quality, efficiencyit was all over the place. (Photo by Dave Blackhurst/UVBizQ). They did it themselves. Join and network with a global community of innovatorsby sharing your success story with the world. We were stretched thin and being pulled away from our core strengths. and More than 4,200 employees call Smith boss.. Four Foods Group is an award-winning restaurant development, operations and growth firm with a employs more than 3,400 employees, with more than 145 at their corporate With an established presence as the largest franchisee in fast growing Thursdays funding announcement changes that. Of course, necessity is the mother of invention and this need is exactly why Savory exists today. The thing that I did, which is what everybody in this industry does, is grow through traditional methods commercial banking, raising money, one site at a time, one building at a time, one business at a time, and there are inefficiencies to it, but you do it because you're growing the business and that's what's available to you, Smith said. The company will be rising at the Valley Grove Project on Pleasant Grove Boulevard, with R&R BBQ and other Four Foods Group concepts out front. I still dont know how I have managed to juggle 14 years of being a mother while being an operator, founder, and now CEO. new levels. She helps me keep it that way when I need to, he says. Released yearly by Franchise Times magazine, the nation's top The 250 employees of Four Foods Group will move into their new Pleasant Grove headquarters in 2019, with room to accommodate up to 750. operations and management company with 105 restaurant locations with two I really enjoyed your article and appreciate the honesty and heart felt grit that came across. Its about the journey for you, about being present and serving. Its no easy task to shut down a store, you have to negotiate with landlords, relocate team members in other locations, and go through the red tape of tying off the financial losses.

I thought that too, once upon a time, until I learned firsthand that the reality is often not perfect, and in most cases, more days are difficult than not. Their restaurants rank among the Technomic Top 150 Fast Casual Restaurants. We still want the hustle and bustle of getting ready and going out to eat, he says. Coincidence. There are always locations that dont perform well and they were nothing to be ashamed of. And as difficult as all that was, at the end of the day, I felt relief. Holla dolla! theres this perception that successful businesses are all successes, without problems or issues. We serve as the Value-Add team to our Savory Fund which is focused on funding the growth and replication of our portfolio brands which include R&R BBQ, Swig and MoBettahs. Along with MoBettahs, Savorys current portfolio includes R&R BBQ and the drink specialty shop, Swig. Especially as an example to my two sons., The biggest question I get asked is whether brick and mortar is dead. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. As Smith travels the country speaking at restaurant conferences and business panels, hes often asked if brick and mortar is dying in the food world. forward to an even brighter future with these guys by our side.. While Smith isnt a cookie-cutter looking or sounding Utah County entrepreneur, he does have a cliche answer with a non-typical explanation. We are excited to Having owned, operated and managed over 162 restaurant locations, Four Foods Group is one of the top 100 restaurant operators in the nation for the past three years. Jean Bingham serves as first woman Grand Marshal for Days of '47 Parade, University of Utah asking alumni to host students during upcoming school year, Cutting through the red tape: KSL Investigates a flying road hazard. Check your inbox or spam folder to confirm your subscription. Four Foods Group was born. To him, thats a pretty safe bet. She wants to know how she can support me.. People feel like the food and beverage industry is screwed and it's not going to survive; we feel the opposite of all of that. billion in revenue and operating nearly 27,000 restaurants. Ive signed myself up for flag football and filled out my paperwork. Well, I can stay in a nicer place in Maui. I love the concept you shared about the moments of failurethat make or break us. Im honored to be working along side you Shauna. 801.642.3800 [emailprotected] 1557 W Innovation Way, Suite 150 Lehi, UT 84043. Just like bell bottoms, bangs and bubble necklaces, foods go in and out of style. Love it! restaurants rank among the Technomic Top 150 Fast Casual Restaurants. Mine, apparently. Its also about the experience. Another time, my then 13-year-old, Christian, said to me when I was driving home from work late one night, Just come home, Ive got dinner taken care of. Thank you for sharing your wonderful journey. month. Where the organization is headquartered (e.g. and The RC Group of Maryland are catching up, both adding 91 percent to proven 11-year track record. Their Were never going to stop eating. We wanted somewhere good to eat so my husband and I asked ourselves, If we could choose, what would we want in our own neighborhood? And we were inspired to open our first restaurant, Kneaders, a European-style bakery and cafe in Lehi, Utah in 2008. Taco Bell and Panera giant Flynn Restaurant Group maintains its No. 106 restaurant locations across the country with 11 additional locations But as happy as I was, I knew that I had more to give, even though at the time I had no idea what giving more looked like. Ranking is decided by publicly available data for the largest brands R&R BBQ, The Soda Shop and MoBettahs and will scale each brand to At Four Foods Groups, we are hyperfocused on big data to know whats trending on our menus.. We may love sushi, and then eight years later, for some weird reason in the ecosystem, were all tired of sushi and something new starts to pop. In 2007, I had been married for nine years and was a stay-at-home mom to my then seven- and two-year-old sons. Four Foods Group currently has a development agreement in place with a regional brand, Kneaders Bakery & Caf (Kneaders), which provides the company with exclusive development and territory rights in 15 states. Smith said that only one-third of growth is money-based. past 5 years. How Tunisha Brown founded IMPACT Magazine. FFG now owns and operates restaurants in 8 Kneaders Bakery & Caf, FFG moved on to acquire a majority stake in I still remember opening day like it was yesterday. Imagine me with my apron, hat, and hairnet on while making pastries early in the morning, getting the store ready to open by 7 AM, expediting and cashiering during the rushes, taking out the trash, bussing tables, mopping floors throughout the day, dishwashing, shaking hands, kissing babies, and working alongside 60 or so employees. I remember a couple times when I vividly thought is this a mom fail or a mom win? One such time was when my then nine-year-old, Tobin, approached me one evening and said Mom, I need you to write a check for $75 to American Fork City. What ultimately matters is how you react and rebound, and as Maya Angelou once said, how you make others feel.

I think about that every day. At any given time, we plan to have 7-8 brands in our portfolio, which means we anticipate 2-3 acquisitions this year and possibly selling 1-2 of our brands to the next size player who will scale nationally, Smith says. www.fourfoodsgroup.com

working alongside the Four Foods Group team and feel confident in their Money changes what you can do, but it doesnt change you., 1. Suddenly, we encountered an entirely new set of issues, and they all had to do with growth. FFG has ranked among Inc. Magazines 500/5000 Fastest Growing region later this year. Applebees, There were a number of years at Four Foods Group that were smooth sailing and smashing successes. Loved your insight and you sharing all your past successes as well as failures. Weve grown just like any other business, Smith says. Were looking Edit Lists Featuring This Company Section, St. John Properties Welcomes Four Foods Group HQ to Valley Grove, Kneaders closes one of its Tucson locations, 2 others in Phoenix area, How This Woman Entrepreneur Built and Sold Utah's 17-Store 'Dirty Soda' Empire, Financial Services Companies With More Than 500 Employees, United States Female Founded Companies (Top 10K), Western US Companies With More Than 100 Employees (Top 10K), Employment Companies With More Than 10 Employees. grow them throughout the United States., Kimo Mack, co-founder of MoBettahs Hawaiian Style, is delighted with the I remember asking myself, Is this what ADHD feels like? because I would have a thought, Id start acting on that thought, then someone would ask me something, and poof, that original thought was as good as gone. After a few months of never-ending daysand what felt like a million customersI discovered that I absolutely loved serving and feeding people and that I wanted to keep doing it forever. I wanted to check the box, he says. The company currently employs over 1,800 employees in a four-state territory and plans on surpassing 2,000 employees by the end of 2016. Smith anticipates the company will add 2-3 brands to their menu during this calendar year. They are exceptional and are committed to your vision but more over, they share the joy and sense of service you bring to the work. The post-construction outsourced services company had the building blocks of greatness much of which was thanks to Smiths always-a-startup mentality. At the time of these harvests, we recognized the need to pivot our strategy. We sold our Kneaders locations and we sold our Little Caesars locationsover 130 stores in all. And tech CEOs being involved feels appropriate; its capital funding like this that helped many of them grow their businesses. Everything about the experience has changed this year, but its still our goal to make it feel like just another normal day in the neighborhood. By subscribing, you acknowledge and agree to KSL.com's. And when I come home at 9 p.m. after a long day, there is no guilt trip. I was happy and content running a household, taking care of my children, and being a supportive corporate wife.

I was at the crossroads between motherhood and career and back then, I had no idea how bold the decision to pursue a career actually was. Rarely is there one winning strategy or solution to starting, running, and growing a business. This is very helpful as I begin my entrepreneurial venture!!! We take promising restaurants and apply our proven logistics. His sophomore year of college, he dropped out to start his first venture, but he eventually went back and finished his degree at night at age 24. SaaS, Android, Cloud Computing, Medical Device). Were honored to be add more locations to our portfolio and to acquire additional brands and Thanks for sharing your story. Ten years ago, Andrew Smith had a plate of experience running and selling tech companies and was looking for his next menu of experiences. People can be out of jobs, but well still be eating.. Four Foods Group is building one of Utah Valleys top revenue companies, and soon theyll have a headquarters to match. Types of diversity represented in an organization, specifically of those who are founding members, currently the CEO, or have check-writing abilities in an investment firm. Many restaurant owners started their businesses because they knew how to make food; not because they knew how to start a franchise. How could I get involved in Montana? Coming from tech, Four Foods Group CEO Andrew Smith likes data. COTTONWOOD HEIGHTS To Andrew Smith, its a great fallacy that restaurants are seen as dangerous investments. Its an interesting time for the hospitality industry with the novel coronavirus forcing many food and beverage businesses to adapt in order to survive. All you need to do is sign my form and write a check.. management growth companies in America, said FFG Co-Founder and Chief Say you were the founder of a shop, Smith said, and I came to you and said, I'm going to put $10 million in your pocket, take that money and go grow 50 of these. You would literally go, OK, I don't know how; Ive never done that before. That's what happens with almost every restaurant that we talk to.. As business owners everywhere know, for the most part, we spend more days with our heads down, working hard, putting out fires, and solving problems. They are always joyful, humble and kind as they work along side you. It hasnt been an easy task, but its been doable, despite the strong doses of Mom guilt I sometimes felt along the way. Success is the result of failure, frustration, sacrifice, heartbreak, and hard work. The company currently Well done! growth and securing a spot at No. I thought that too, once upon a time, until I learned firsthand that the reality is often not perfect, and in most cases, more days are difficult than not.

Ill TAKE ONE OF EVERYTHING: Four Foods Group scales brands such as Swig, Kneaders, Little Caesars, R&R BBQ and Mo Bettahs. Total amount raised across all funding rounds, Total number of Crunchbase contacts associated with this organization, Total number of investment firms and individual investors, Total number of organizations similar to the given organization, Descriptive keyword for an Organization (e.g. So we'll do it again we'll do it with another eight to 10 brands.. Growth is great but with it comes challenges. Seed, Series A, Private Equity), Alternate or previous names for the organization, Whether an Organization is for profit or non-profit, General contact email for the organization. overall restaurant industry revenue, collectively generating $37.5 In the beginning of my career, I was driven by measuring success in dollars. In fact, it was during the hardest times when I learned the most as a businesswoman. Should you get a COVID-19 booster now or wait for omicron-targeted shots coming out in the fall? Its not that at all for me anymore, he says. The Savory fund has been in the works for 18 months, but Smith thinks now, more than ever, is a good time for it to be announced. The growth train was moving and it was moving fast. Business lunch, yo! These were days of solution-finding and holding things together with toothpicks and tape (figuratively, of course) and rolling out updated processes, systems, and procedures. Required fields are marked *. My point in bringing all of this up is to reassure other business owners that when hard times hit, because they will, its normal. Why Elizabeth Smart says self-defense should be as common as fire drills, Scientists find an exotic black hole deemed a 'needle in a haystack', Survey results show Salt Lake City has a problem with gentrification, Webb telescope shows off Jupiter in new image, Utah's GOP congressmen vote for bill to write same-sex marriage into law. Like a boss. At the time, I didnt know much about being a restaurant operator, but I was committed and willing to do anything it took to run a successful business. FFG has ranked among Inc. magazines 500/5000 Fastest Growing Companies in America for five consecutive years, and as a Utah Fast 50, MWCN Top 100, and BusinessQ fastest growing company for the.

"The Savory team helped us to achieve a breakthrough in performance and together we quickly grew our business to heights we simply couldnt have reached on our own.. My journey in food started 14 years ago when we moved to an area that was starved for good food options. The leaders in our business have taught my boys how to work, how to have a boss, how to show up on time and keep a schedule, how to dig deep, and even a thing or two about leadership. Thats when we decided the solution to our capital challenges would be to fund the growth ourselves. This was all part of the original plan to buy, create value, and harvest brands. While Smith has seen a few dollar signs in his tech life and now Four Foods Group ($180 million annual revenue. Theres always a need for food. Only one in 100,000 restaurants can scale their concept on their own, he says. If its dead, then why the hell are people standing in line right now at our restaurants for lunch? Retail is supposedly dying, but shoppers still head to Nordstrom for the customer service. So too has major tech CEOs up and down the Wasatch Front. news, commenting on their partnership with FFG by saying, knowing that Despite the new challenges brought on by the COVID-19 pandemic, weve accepted the challenge of navigating all the different directives and orders while still providing world-class service and delicious food in a safe environment, and of course, we couldnt do this without our team. Great insights, love what you said about perceptions and success. Active, Closed, Last funding round type (e.g. But I would be fine at the Holiday Inn. Looking back at all of our growth, I just wish there had been someone around like us to provide knowledge when I was getting started in the industry. Not everything about growth is rosy. FFG, I couldnt be more proud of our team for their dedication in Plus we were still growing and as much as we wanted to hit the pause button, we couldnt. Youre definitely an inspiration! ), the pocket change hasnt changed him. Then at the end of my day, Id look at my notes and do any of the things I didnt get to. It had always been a challenge but it was becoming even more challenging with every growing year. One element of our strategy that was always challenging was capital. Four Foods is a restaurant development, investment, operations and management company with 40 restaurant locations and an additional 5 in development. under development. Money doesnt change anything. The restaurant groups on the list represent roughly 5 percent of the On Thursday, Mercato Partners, a Cottonwood Heights-based private equity firm, announced a $90 million fund to back promising restaurants. What kid asks for a job for his birthday? Theyve also both worked from a young age in our brands. Information in the story may be outdated or superseded by additional information. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. But everybody oversimplifies how hard this business model is to scale.. We did our best to buoy up sales, invested marketing dollars, brought in new management, and pulled all of the levers that should otherwise work. Whether shes at home or in the business and shes both she doesnt make me choose between being a father/husband and being an entrepreneur. . Four Foods Group specializes in scaling brands regionally.

I found that welcoming my family into my professional life and my professional life into my family has been the key. I was on a panel with Shake Shack last week, and we were both asked that question. Its normal for businesses to go through tough times. Great article, Shauna. Not only that, but because of the things weve taught them about our careers, theyve learned to be independentsomething Im not certain they would have learned had I been around full time to do everything for them. We are a hotbed for restaurant concepts within this overall hotbed of innovation in Utah. One of Smiths reasons for success is you guessed it his wife. I know how to take something from nothing to growth.. I like to see others take a risk and curate a restaurant that people like, and then Four Foods Group knows how to take a proven concept and scale. But looking back, I realize that I didnt grow or learn much during that time. Who pays to fix crunched vehicle when a carport collapses at an apartment complex? states. When selecting the restaurants, Smith said his team will be looking for three things: making sure Savory's vision aligns with the owner or owners, that the flavor segment isnt too saturated so there is growth potential, and that the restaurants sales are strong. Our promise: we dislike spam as much as the next person, and promise never to break your trust in us. We look at it as 100% opportunistic, Smith said of the current landscape. Great perspective on being a restauranteur. operators in the country is an unbelievable feeling. our brand is in the hands of one of the top five fastest growing We'll buy eight to nine brands and help them from scale with this fund, and then we'll be out to raise another fund in the near future, Smith said. At a time of such rapid growth for Prior to Four Foods Group, Smith was busy working on his third tech company, Lehi-based AxisPointe. Very inspiring! Flavor profiles change, Smith says. But it took us a bit to get to that place of acceptance in our brains because theres this perception that successful businesses are all successes, without problems or issues. For the restaurants selected, it provides them with funding to grow and, maybe more importantly, partners that know how to make it grow. Being a mother prepared me for managing how people would feel. Your email address will not be published. Loved the article and have loved being a partner with the team over the years!! Honestly, Ive used every tool I could imagine to manage it all. Despite that success, we had reached a plateau in our expansion efforts. Ryan Miller has covered the Utah Jazz for KSL.com since 2018. Loved reading about your experience and insight! We need great women like you leading businesses! proven ability to take our brand to the next level. Period. The restaurant brands rank among the Technomic Top 150 Fast Casual Restaurants. As Andrew became familiar with the bakery, he and I dreamt up an idea to build multiple bakeries all under our ownership and direction. offices in American Fork, Utah and Birmingham, Alabama. As the CEO of Four Food Groups, he helped take Kneaders Bakery and Cafe from a four-unit franchise to having spots across the west and helped with the development of 170 restaurants. Pleasant Grove is the next Thanksgiving Point, Smith says. the nation. You have all my admiration, praise and love. Sorry, the comment form is closed at this time. Excited to continue to see where the future takes you and the crew! 2021 Bennett Communications | 424 W. 800 North, Suite 201 | Orem, UT 84057 | P: (801) 802-0200 F: (801) 801-0248, 2018 Entrepreneur of the Year: Andrew Smith, Four Foods Group, why the hell are people standing in line right now. As business owners everywhere know, for the most part, we spend more days with our heads down, working hard, putting out fires, and solving problems. They come to Mo Bettahs or R&R or any of these places because it feels good to be there and it provides an out-of-office experience, Smith says.