TGI Fridays unveils expansion plan, targets 1,000 locations by 2030
TGI Fridays, a popular casual dining chain, recently announced an ambitious expansion plan to significantly grow its business over the next decade. Under its “1-2-3 Strategic Vision”, the company aims to reach more than 1,000 units and achieve $2 billion in annual revenue by 2030.
The expansion plan is built on four key pillars: activating the brand, enabling flexible growth across markets, strengthening the franchise system, and improving performance through people. To lead this vision, Phil Broad has been appointed as president. Broad, who previously served as TGI Fridays UK managing director and later as president of international franchising, will oversee growth efforts both domestically and internationally.
TGI Fridays CEO Ray Blanchette expressed excitement about the company’s growth plans, stating, “TGI Fridays pioneered the casual bar and grill category and continues to introduce Americana culture to millions around the world. Our focus as we accelerate our growth is to resonate with the next generation of consumers while preserving the classic Americana feel that has made the brand beloved in more than 40 countries.”
To support the expansion, TGI Fridays has already signed new development agreements for over 150 locations worldwide. The company plans to implement menu and beverage changes, enhance guest experiences, and upgrade restaurant atmospheres as part of its strategic vision.
This expansion plan marks a significant turnaround for TGI Fridays, as the company recently emerged from bankruptcy. In November 2024, TGI Fridays initially filed for Chapter 11 bankruptcy protection in the Northern District of Texas due to financial struggles and an unsuccessful acquisition attempt by UK-based Hostmore.
The news of TGI Fridays’ expansion plan was originally reported by Verdict Food Service, a GlobalData-owned brand. As TGI Fridays embarks on this ambitious growth journey, it aims to not only honor its heritage but also appeal to today’s guests who seek bold flavors, high-energy experiences, and reasons to celebrate every day.
