Fazoli's
 |
|
| Private | |
| Industry | Restaurants |
| Founded | 1988 as Gratzi's in Lexington, Kentucky |
| Headquarters | Lexington, Kentucky, U.S. |
|
Key people
|
Carl T Howard, President and CEO |
| Products | Fast casual Italian-American food, including spaghetti and meatballs, Fettuccine alfredo, lasagna, ravioli, breadsticks, pizza, Submarinos sandwiches, and salads. |
| Owner | Sentinel Capital Partners |
|
Number of employees
|
4700 |
| Website | fazolis.com |
Fazoli's is an Italian-American fast casual restaurant chain based out of Lexington, Kentucky. It was founded in 1988 and is now owned by Sentinel Capital Partners. Today, there are more than 200 Fazoli's located nationwide with plans to expand overseas. The restaurant chain specializes in Italian cuisine and dishes. Carl Howard is the company's president and CEO.
In 1988, the concept of the casual Italian-American dinner, Fazoil's, was set. Two years later, the Fazoli's system was established. Fazoli's started with five location in the Lexington, Kentucky area. Fazoli's was originally managed by Jerrico Inc. but later was put up for sale and sold to Duskin Co. Ltd so the Jerrico Inc. could focus on Long John Silver's. Duskin Co. Ltd later formed Seed Restaurant Group with the help of Entrepreneur Kuni Toyoda. Once Kuni Toyoda and Duskin Co. Ltd formed Seed Restaurant Group, this group began its ownership of the Fazoli's system.
During the mid-1990s, the chain expanded rapidly. By 1992, it had grown to include 35 restaurants within Kentucky, Indiana, and Florida. This almost doubled in 1993 when Fazoli's added 25 more locations. During this time, the operations of Fazoli's increased from $500,000 per restaurant per year in total volume to $1 million per restaurant per year in total volume within five years. This rapid financial success made the expansion of Fazoli's easy and with the start-up cost ranging from $150,000 to $500,000 most locations were able to turn a profit within the first year of opening.
The company's sole location in Southern Nevada closed in 2016 after 15 years of operation.
Fazoli's restaurants operates in 26 states and has more than 200 restaurants. Fazoli's plans to expand overseas to Saudi Arabia, United Arab Emirates, Kuwait, Qatar, Bahrain, and Oman. Fazoli's made a deal with the World Franchise Associates that assures them the ability to build locations in those locations. Fazoli's also opened its first college campus location at the Texas Tech University in 2014. The expansion onto the TTU campus is part of the plan to grow the company via non-traditional locations.
Corporate headquarters are located on Palumbo Drive in Lexington. Carl Howard has been Chief Executive Office and president since June 2008.
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Wikipedia