TGI Fridays has big expansion plans in Asia
According to what was described as its largest development agreement ever, the casual dining brand will open 75 outlets acro With ambitions to open 75 restaurants throughout South and Southeast Asia over the next 10 years, TGI Fridays is making a significant push into the Asian franchise market.
According to the restaurant company, the arrangement with master franchisor Universal Success Enterprises represents TGI Fridays’ largest growth agreement to date. Over the following ten years, $500 million in income is anticipated.
It will increase the chain’s extensive global reach, which is located in Dallas. In comparison to domestic stores (315), Fridays has 385 overseas locations, and just in 2022, 22 new international restaurants were added.
The fact that Fridays has locations around the world sets it apart from other major casual dining brands. According to Technomic Ignite data, it has the most international locations among the top 10 in the U.S., followed by Chili’s with 365 and Outback Steakhouse with 287.
But it has been contracting for years, both domestically and globally. 448 foreign locations made up the majority of their global network as of 2017. With the agreement with Universal Success, international expansion has resumed.
Universal Success, established in Singapore, has expertise introducing American goods to the area. In addition to introducing Outback Steakhouse to Singapore, Malaysia, Indonesia, Thailand, and the Philippines, it currently runs three TGI Fridays in India.