What FRANdata Thinks

Insights from the New Concept Report Volume 2 of 2023

June 16th, 2023 by Melinda Modica

Our researchers spent a lot of time building this latest roster of exciting new franchises! For this volume, 107 new franchise brands across 20 industries were identified. The Food industry continues to dominate in the New Concept Report, with a total of 40 brands, though this number has decreased from the 55 brands in the previous quarter. The brands noted below highlight some unique concepts and the strong franchise resume behind them:

  1. Bobby Chez is a restaurant specializing in seafood and ancillary products, primarily for takeout orders. Bobby Chez’s parent company is Franchise Founders, a franchise consulting and investment firm, affiliated with brands like Frankie by Rizzieri, Love & Honey, Bubbles Tea and Juice, and Doughnuttery. CEO, Matt Friedman is its co-founder and a member of the board of directors of WingZone since 1998.
  2. As per recent reports from Intelligence360, The Coven is currently raising $4,498,986 in new funding. The Coven is a Minnesota-based company that provides workspace exclusively for women and non-binary individuals. With two company-owned locations in Minneapolis, the brand has garnered attention from various publications such as Forbes for its unique approach in promoting diversity and inclusion in the workplace
  3. Ace Pickleball Club is a concept with executive management mostly hailing from Sky Zone and CBRE. Joe Sexton its co-founder and president has spent 15+ years with brands like Mathnasium and Sky Zone while their CDO Vince Barrios has 20+ years developing hundreds of locations for brands like Sky Zone, Menchie’s and Code Ninjas. Ace Pickleball is riding the wave of popularity around the sport whose participation has grown an average of 158.6% over the last 3 years according to the SFIA.
  4. 375 Chicken ‘n Fries is a quick-service restaurant concept that originated as a passion project of a Michelin-starred, classically trained French chef Stephane Lemagnen. From their origins in New York, they have expanded to the Asia with locations in Qatar, Oman, and Hong Kong.

Learn more about the New Concept Report here. Send us an email at franchiseregistry@frandata.com to discuss purchasing a subscription.


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