In a bold move to revitalize its brand and tap into the success of its fastest-growing concept, Smokey Bones is closing 15 underperforming locations. This strategic shift, announced by FAT Brands Inc., the parent company of Smokey Bones, aims to focus on the brand’s most profitable sites and leverage the proven success of Twin Peaks. The decision is expected to yield substantial returns, with converted Twin Peaks locations generating an average of $7.8 million per location, significantly higher than the $3.5 million generated by average Smokey Bones locations.
A New Chapter for Smokey Bones
The closure of 10 Smokey Bones locations has already taken place, with five more slated to shut down by the end of the third quarter. The company plans to convert 19 of these closed locations into Twin Peaks lodges or sports bars. According to Ken Kuick, CEO of FAT Brands, this strategy will allow the company to “focus on our most profitable sites and leverage the proven success of the Twin Peaks brand.” The decision to close underperforming locations is a common practice in the competitive restaurant industry, but Smokey Bones’ transformation goes beyond simple closures.
Revamping the Brand
The company is investing in new leadership and a revamped brand identity to appeal to a broader customer base. Kim Boerema, the newly appointed President of Smokey Bones, emphasized the importance of adapting to changing consumer preferences. “We are committed to providing our guests with an exceptional dining experience that meets their evolving needs,” she stated. The closure of Smokey Bones locations has undoubtedly raised concerns among employees and customers, but FAT Brands has stated its commitment to supporting affected employees through the transition process.
The Power of Twin Peaks
The success of this transformation will depend on several factors, including the successful integration of the Twin Peaks concept, the ability to attract and retain loyal customers, and the company’s ability to adapt to changing market conditions. According to FAT Brands, converting to Twin Peaks is expected to provide a significant return on investment, with converted locations generating an average of $7.8 million per location. This is significantly higher than the $3.5 million generated by average Smokey Bones locations.
A Brighter Future for Smokey Bones
The future of Smokey Bones remains uncertain, but the company’s bold moves suggest a determination to overcome challenges and emerge as a stronger competitor in the ever-evolving restaurant landscape. As the company embarks on this new chapter, it will be interesting to see how Smokey Bones adapts to changing consumer preferences and leverages the success of Twin Peaks.
We are committed to providing our guests with an exceptional dining experience that meets their evolving needs, This includes exploring new concepts and expanding our menu offerings.
A New Era for Smokey Bones
As Smokey Bones embarks on this new chapter, it’s clear that the company is committed to providing exceptional dining experiences and adapting to changing market conditions. With a focus on leveraging the success of Twin Peaks and investing in new leadership, Smokey Bones is poised to emerge as a stronger competitor in the ever-evolving restaurant landscape.
Key Points
- 15 Smokey Bones locations will be closed
- 26 Smokey Bones locations will remain
- $7.8 million per location generated by converted Twin Peaks locations
- $3.5 million per location generated by Smokey Bones locations
- 19 restaurants identified for conversion to Twin Peaks lodges
Quick Summary
Smokey Bones, the well-known barbecue chain, is closing 15 underperforming locations 10 already shut and 5 more expected by year’s end. The move comes as parent company FAT Brands shifts focus to stronger markets and converts some restaurants into Twin Peaks sports lodges, which are proving far more profitable. After the closures, only 26 Smokey Bones locations will remain, with new leadership set to guide the brand’s next phase. While the changes reflect challenges in the competitive restaurant industry, the strategy aims to boost revenue, attract new customers, and strengthen long-term growth. With support from FAT Brands and a focus on innovation, Smokey Bones hopes to bounce back, adapt to shifting consumer tastes, and secure a stronger place in the market.
FAQs
Why is Smokey Bones closing locations?
Smokey Bones is closing underperforming restaurants as part of a strategy to focus on stronger, more profitable sites. The closures allow the company to streamline operations and redirect resources toward concepts that generate higher returns.
How many Smokey Bones locations are closing?
A total of 15 Smokey Bones restaurants are closing 10 have already shut down, and 5 more are expected to close by the end of the year.
Why is FAT Brands converting Smokey Bones to Twin Peaks?
FAT Brands is converting some Smokey Bones locations into Twin Peaks lodges because they bring in significantly higher revenue about $7.8 million per location compared to $3.5 million under Smokey Bones. Twin Peaks has been one of FAT Brands’ fastest-growing concepts, making it a more profitable use of those spaces.
What is the future of Smokey Bones?
After the closures, Smokey Bones will continue operating with 26 locations under new leadership. While the future is uncertain, FAT Brands’ strategy is to stabilize the chain, introduce new ideas, and adapt to changing consumer trends, giving the brand a chance to recover and thrive in a competitive market.