9/25/2023 0 Comments Crackshack menu![]() But six months into COVID, people are wanting to strike deals.Īs he puts it, A+ real estate is still A+ real estate in the mind of landlords, and they aren’t decreasing their prices. Smith says that at the peak of the pandemic, landowners and developers didn’t quite know how to price. Smith says there’s 30 construction projects underway with Savory’s current portfolio, and there’s two sites already under negotiation for The Crack Shack. The crux of the growth process is finding good real estate-a strength of the Savory fund. “It’s a high-end chicken coop where you feel like the dust has settled in and the polish has been knocked off, but an amazing experience with amazing food.” “It’s a very experiential dining experience where you’re in a chicken coop,” Smith says. ![]() The strategy plays into the brand’s greatest strength. The plan is to do the same with The Crack Shack by placing it in secondary and tertiary markets in states like Utah, Arizona, and Idaho where areas are less affected by the pandemic and people are still eager to dine out and enjoy a sit-down atmosphere. The fund currently has three brands in its portfolio-Mo’Bettahs, R&R BBQ, and Swig-which are up more than 21 percent in sales amid the pandemic. Smith notes that Savory has a proven track record. That’s the primary core product that we sell.” Which the difference is, everything said the way to go is to go into tenders and sandwiches, but we’re bone-in chicken. ![]() “The differentiator is that it’s heavily weighing on bone-in chicken. “Crack Shack is different,” he continues. Less experiential than it is unbelievable speed and service.” We can’t say anything but positive about Chick-fil-A, Raising Cane’s, and others, but their segment really is in the fast-food arena at that price point. “Well, there’s a lot of fast food, a lot of concepts that are absolutely killing it. "When you think of better chicken, what is better chicken?” Smith says. The menu features fried chicken, sandwiches, bowls, and sides like chicken oysters and Mexican poutine. Smith views the concept as a better chicken category leader, separate from those in the fast-food sector. On Tuesday, the fund announced a controlling investment in The Crack Shack, with a goal of expanding the restaurant by 35 to 50 units in the next four to five years. It launched an inaugural $90 million fund in June with the goal of fueling growth and injecting capital into up-and-coming brands, and Managing Director Andrew Smith says The Crack Shack fits the bill. Savory, a Mercato Partners Fund, recognized the potential immediately. Since starting in that shack in San Diego, the company has opened five more locations, including one on the Las Vegas Strip. He expected a few thousand dollars per day and instead formed a concept rocket ship-behemoth sales and impressive store-level economics. Rosen, set with a high-quality gourmet chicken menu, kicked it off just to see what would happen. The concept, created by Michael Rosen, started in a shack behind Juniper and Ivy, a fine-dining restaurant he founded. The Crack Shack owes its quirky name to humble beginnings.
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