updated - October 23, 2020 Friday EDT
The company, Habit Burger Grill, is thinking of IPO this year
There has been talks all over the restaurant industry, that another brand might go initial public offering.
The New York-based better burger chained, Shake Shack, is thinking of an IPO this 2014. The Union Square Hospitality-owned company has been looking into such option, as released by Reuters few days ago.
The latest buzz came after the mother brand of West Coast-based food chain, Habit Burger Grill went into the same business move, IPO.
Even the Smashburger brand had thought of considering an IPO in the long run.
Shake Shack was introduced in 2004, which was only a kiosk located in Madison Square Park, New York. From then on, the burger chain has managed to operate 53 units all over the world. This coming fall, a new branch in Chicago is expected to open. And from there, branches will soon open for business in areas such as Las Vegas, Atlanta, Austin and Texas, probably at the end of 2014.
As for the global market, the brand has already 15 stores in Middle East, four branches in Turkey and one a piece in London and Moscow.
As per the Reuter's report, the organization is expecting to release its earnings amounting to $20 million in 2015.
The brand was able to gain massive following since it started its operation. People queue in every New York branch. They even have to set up a live web camera to monitor how long the line is.
Danny Meyer is the founder of Parent Union Square Hospitality. He is famous for high end brands that are also blockbuster names in New York. The likes of Union Square Cafe, Gramercy Tavern and Blue Smoke are some of the names he put up.
According to the reports of New York Times, it was Meyer who was responsible for feeding the massive craving for gourmet burgers.
Due to Meyer's record, Shake Shack is indeed garnered huge fan with its high quality products. The patties use Angus beef which is freshly ground with no added chemicals at all.
Shake Shack is believed to be small in size to think of an IPO.
Other brands that have considered such option are said to be giving investors a bit unstable impression.
But at the end of the day, it will be the brand that offers the highest possible value will be stable as public organization.
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