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Applebee’s Restaurants – A Trend Setter in the line of food Chains
Applebee’s is a household name in the United States to reckon with when it comes to mentioning the topnotch restaurant chains in America. The company has sold a thick of Applebee’s restaurants to concerned franchisees. According to the Dine Equity annual report released on 31st December 2015, the company has already extended its clutch worldwide, with 58 franchise groups operating 2,033 restaurants across 49 states in the US, one U.S. territory (Puerto Rico) and 15 other nations.
As compared to 2014, the Applebee’s recoded 0.8% increase in the number of restaurants, i.e., from 2017 in 2014 to 2033 by the end of 2015. While there were 23 company restaurants in 2014, the year 2015 witnessed a complete dominance of franchises with no company restaurants at all. The globally acclaimed and three decade old Applebee’s property has its presence in the New York Stock Exchange under the name of DineEquity (DIN) formerly IHOP corporation, a collaboration of Applebee’s and IHOP, its parent company.
At present, DineEquity Inc., the California based company franchises as well as operates both the IHOP and Aplplebee’s restaurants. The restaurant chain is touching new heights under Julia Stewart, DineEquity Inc. chairman and CEO. For the fiscal 2015, Applebee’s property churned a net income of 104.9 million or $5.54 per share, which was way better than $36.5 million, or $1.90 per share calculated in 2014. The company generated revenue of $ 681.1 million in the fiscal year 2015, which was an increase of 4% from $655 in 2014. Moreover, the company had already earned around $324 million by second quarter of 2016 as per the reports from NASDAQ.
Applebee’s franchisees are spread across the nook and cranny of the world, including North & South America, Europe, Asia, Middle East and Africa. As of 2013, the company already had 28,000 employees, which rose to 40,000 at present. Recently, in February 2016, Applebee’s in Westampton, Burlington County celebrated the 90th birthday of the oldest of Applebee’s employees, who is even more than four times older than few of her coworkers. It was a great gesture on the part of the restaurant and an example of how it treats its staff as one big family.
A big reason behind such exceptional success of the popular restaurant chain is its concept of casual dining is a big hit across the country. It is aptly complemented by mainstream American dishes of the lies of Shrimp, pasta, chicken, salads, and riblets; the last one being its signature item. For obvious reasons, the brainchild behind Applebee’s Neighborhood Grill and Bar, Applebee’s International, Inc envisages at expanding the franchise ownership even further. Here is a quick roundup of all you should know about this much craved food hangout in the US and elsewhere in the world.
How it originated?
It all started with the zeal of a married couple to own a restaurant. Bill and T.J. Palmer took a sumptuous loan to buy one of the worst performing chains of Billy’s, the most sought after eatery of 1970’s in Atlanta. Unfortunately, the owners took it back when the restaurant started generating sales through the efforts of the couple. Dejected by the Billy’s, the husband and wife decided to have a restaurant of their own. As of now, Billy’s is a forgotten name of the bygone era, and Applebee’s is one of today most embraced restaurant chains.
How it got its name?
The couple shortlisted several names such as Appleby’s, Cinnamon’s, Peppers, etc., but all of them were already registered. As if fallen in love with Appleby’s they decided to name the restaurant in a similar manner and zeroed in on T.J. Applebee’s in 1980. They opened it with a $50,000 loan in Decatur Georgia. In 1986, it was rechristened to Applebee’s Neighborhood Grill & Bar, which prevails till now.
With the opening of the second location of Applebee’s on Buford Highway outside Atlanta in 1983, the couple sold the company to W.R. Grace and Company. Bill, however, remained its president and guided the chain to thrive as a popular franchise system. It was later sold to a Kansas City franchisee in 1988 that led to an exceptional growth for the restaurant with the opening of more than 100 restaurants in the coming years. The fortune of Applebee’s yet again took an overwhelming turn as the International House of Pancakes (IHOP) bought the already hit restaurant chain for a whopping $2.1 billion in 2007. With this, both Applebee’s and IHOP came together to form DineEquity (NYSE:DIN); the parent company at present.
Transformations under DineEquity
Ever since DineEquity took over the realms, Applebee’s witnessed a sea change in its operational strategies, leading to even bigger customer base across the globe. It started refranchising and selling Applebees real estate via net lease transactions and sale-leaseback. The move enthralled the attention of interested buyers from the corporate world and several other industry segments, which preferred it as fruitful investment property. Moreover, the rapid sale of Applebee’s properties also helped it appreciably in reducing cost and paying down the debt balances. As of now, DineEquity is well on its way toward successful marketing of company-owned Applebee’s restaurants.
Applebee’s Properties For Sale Across the United States :
Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana,Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Virgin Islands, Washington, West Virginia, Wisconsin, Wyoming