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Smashburger Hits 99 on the Inc. 500 List

 

Smashburger, a fast growing competitor in the 'better burger' category, said it had ranked number 99 on the Inc. 500 list. The list which has a specific methodology for selecting* independent entrepreneurial candidates, marked its 30th anniversary.

Inc. released the 500 list with its September issue August 23, reporting that its list companies had an aggregate revenue of $10.5 billion, with a median three-year growth of 1,275 percent. The list's companies employ more than 46,000 people and generated over 35,000 jobs in the past three years, according to a release.

Denver-based Smashburger, backed by private equity firm Consumer Capital Partners, has grown to 117 units. It was picked for the Inc. 500 list because of its three-year sales growth of 2,673 percent. With a pipeline of nearly 500 stores, Smashburger is on track to build its landmark 500th in just a few short years.

“We are very proud to be among the top 100 companies on this year’s Inc. 500 and to be recognized for our rapid growth over the past three years,” commented Dave Prokupek, chairman and chief executive of Smashburger. “

Founder and Chief Concept Officer Tom Ryan told Quick Serve Leader earlier this month that milestones were indeed celebrated at the company, particularly with the opening of store 100 in the Chicago suburb of Schaumburg, Ill., but that focusing on serving a differentiated, premium product and experience to customers, one day at a time, was more important.

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* The 2011 Inc. 500 is ranked according to percentage revenue growth when comparing 2007 to 2010. To qualify, companies must have been founded and generating revenue by March 31, 2007. Additionally, they had to be U.S.-based, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2010. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2007 is $100,000; the minimum for 2010 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons.

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(08-24-11)

Copyright: Kandessa Media. All rights reserved.

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This story appears in:  Fast Casual