News Summary
Matt O’Neill, a franchisee in Tampa, has signed a seven-unit development agreement to open new Barberitos locations in Tampa and St. Petersburg. His first restaurant in Temple Terrace has already seen substantial success, with predictions of $2 million in sales in its first year. O’Neill aims to create larger venues to accommodate more patrons while leveraging local partnerships to enhance catering options. The growth reflects Barberitos’ continuing expansion in the fast-casual dining sector following its acquisition by WOWorks.
Tampa, Florida – Matt O’Neill, a 31-year-old franchisee, is set to expand the Barberitos brand with the signing of a seven-unit development agreement to open new locations in Tampa and St. Petersburg. This comes after the successful debut of his first Barberitos restaurant located in Temple Terrace, which is projected to generate close to $2 million in sales during its first year of operation.
The Temple Terrace location, which opened in October, occupies a 1,400-square-foot facility and has already made a significant impact on the local market, evidenced by over 100 people in line on its opening day. O’Neill’s expansion efforts include plans for larger venues ranging from 2,500 square feet and with seating capacities for 60 to 100 customers in bustling areas of Tampa and St. Petersburg.
Barberitos’ brand performance has shown encouraging figures, with systemwide average unit volumes between $808,118 and $1.1 million for the middle two quartiles, and the top quartile averaging $1.8 million. The bottom quartile’s average sales are reported at $584,192. The investment required to start a Barberitos location ranges from $521,000 to $830,360.
O’Neill possesses extensive experience in the restaurant industry, previously serving as the general manager at Elevation Burger and holding the position of director of operations for Zaxby’s. He co-owns Amo Bros Investments with his brother, further paving his path in the fast-casual dining sector. His deep ties to Tampa, having grown up there raised by a single mother, alongside his operational expertise, position him well for these new endeavors.
In the last year, Barberitos has grown from 42 to 45 locations, with several more restaurants under development. The brand was recently acquired by WOWorks, a firm that manages a wide portfolio that includes other dining brands such as Saladworks, Garbanzo Mediterranean Fresh, Zoup, and Frutta Bowls. O’Neill sees potential for Barberitos in the fast-casual burrito market, particularly because many competitors like Chipotle do not offer franchising opportunities, keeping the market open for Barberitos to capture a larger share.
Current sales at O’Neill’s Temple Terrace location highlight a solid business model, with approximately 50% of revenue stemming from in-house dining, 25% from online orders or third-party delivery services, and the remaining 25% from catering services. To strengthen his market share, O’Neill is seeking partnerships with local businesses, such as hospitals and pharmaceutical companies, to enhance catering options.
O’Neill utilized a local radio station and a marketing firm to promote the opening of his Barberitos restaurant, giving away grab bags and free food to reward the first 100 customers on opening day. His belief in Barberitos as a prospective major player in the fast-casual dining landscape is underpinned by his focus on employee motivation and knowledge, key factors he identifies as essential for running a successful establishment.
This development marks a significant milestone for both O’Neill and Barberitos in their paths toward growth and community engagement in the vibrant Tampa and St. Petersburg regions of Florida.
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Additional Resources
- Franchise Times: Barberitos Targets Florida Growth
- Google Search: Barberitos Florida growth
- Franchising.com: O’Neill Signs 7-Unit Agreement with Barberitos
- Wikipedia: Franchising
- Restaurant Dive: WOWorks Barberitos Reimagined Store Opening
- Encyclopedia Britannica: Restaurant
- Franchising.com: Barberitos Expands in Florida
- Google News: Barberitos expansion in Florida
