Charleys Joins The Fastest Growing Franchise List
Charleys is a Fastest Growing Franchise
With demand through the roof, and with a business model that is easy to scale, Charleys Philly Steaks is expanding across the U.S. at an unprecedented rate, and people are taking notice! Recently, Charleys was listed as the #38 fastest growing franchise, according to a report in the industry think tank Entrepreneur magazine.
Every year, Entrepreneur magazine identifies the franchise brands with the greatest growth unit in North America over the previous year, based on data submitted through its Franchise 500 ranking. “The fastest-growing ranking is based on the net total new franchise units added in the U.S. and Canada from July 2021 to July 2022, as verified by Entrepreneur magazine, with ties broken based on percentage growth,” according to the report.
Charleys Philly Steaks had 643 locations open in 2021, yet ended 2022 with 710 total locations! “Charleys Philly Steaks has been ranked in Entrepreneur’s Franchise 500 many times in the past several decades. This ranking is based on an evaluation of more than 150 data points in the areas of costs and fees, size and growth, franchisee support, brand strength, and financial strength and stability,” Entrepreneur wrote. “Intending to hit 3,000 stores, Charleys Philly Steaks has an ambitious plan. It is always looking for new franchisees to help it reach its goal. Franchise reinvestments are responsible for more than half of its growth, so if you’re looking for a tested and proven business opportunity, Charleys Philly Steaks may be a catch.”
Charleys Philly Steaks is Growing
All over the U.S., Charleys Philly Steaks is reaching new markets, and cementing its footprint in existing ones, and it’s not hard to see why. Americans love the classic Philly cheesesteak, yet have few options at other restaurants. That’s why Charleys Philly Steaks has become America’s favorite spot to get their classic Philly cheesesteak fix. And with a proven business model that’s easily replicated, it’s no wonder why Charleys Philly Steaks is primed for expansion.
But that’s not all. One of the main drivers of Charleys unprecedented growth is a groundbreaking deal with the mega-giant Walmart that will result in hundreds of new locations across the country. What better way to spread brand awareness and reign in customer loyalty than bringing our classic menu offerings to one of the largest and most prominent powerhouse retailers in the country? Our growth doesn’t stop there, with planned openings in strip malls, stand-alone units, and even gas station/convenience stores throughout the country.
“Our goal is to reach 3,000 stores in the coming years,” says Charley Shin, CEO and founder of Charleys Philly Steaks. “We’ve been growing at about 60 stores a year for the past several years, and about 70% of our growth comes from our existing franchisees reinvesting in the brand—which is extremely positive. This brand has never been more successful than it is today, and we’ve never been more excited about the future.”
Learn More about Charleys Philly Steaks Franchise
Be part of one of the fastest growing and popular franchise opportunities in the country by investing in Charleys Philly Steaks. To learn more, visit our research pages here or fill out our form here to start a conversation with our franchise team!