Why BFI? - A Compelling Turnaround Opportunity
VALUE CREATION INITIATIVES
STRATEGIC PRIORITIES
Improving Labor Productivity
& Food Cost Infrastructure
Taste Superiority - Menu
Enhancements
Defining the Portfolio:
Real Estate
Gold Standards:
Food Innovation
ACTIONS & INITIATIVES
Instability of leadership has stabilized store and regional
management
Investment into technology, to manage COG's
Implementation of CrunchTime
Fixing the fries
Custard
Beverages
Taste of the Burger
Entering Chicken Wars
BFI - Franchise focus, with eye on contiguous market
growth
ACFP - Finalize franchise business and explore strategic
sale of select stores to experienced franchised
operators with committed development agreements
Prioritization of four wall experience across both
brands (new POS at ACFP, new menus, etc)
-
Entering Chicken Wars
New Processes & Systems
Stage Gate
PRELIMINARY RESULTS
Improving Regional and GM retention
CrunchTime to be 100% implemented at both brands by
January 2024. Including, Coke, wine/beer and produce
Vast reduction in negative reviews. No longer the most
reviewed item
Improving non-carbonated beverage in partnership with Coke
Chicken Wings already launched, with grilled chicken, late
1Q24.
Actively terminating unproductive franchise and
company owned BFI locations where viable. Purchased
two locations in Miami, at minimal costs and opening in
NYC in January 2024
Opened first ACFP franchise in Florida
New POS, expected to be in place in all 59 company-
owned restaurants by 2Q24
Focused on moving from 6% of revs to 12%-15% in Chicken.
Already up 2% with wings and 1.3% for Burger Bowls
World Class Marketing:
Fixing Brand Reputation
Social Media
Brand Reputation/Reviews
Marketing Strategy
Restricted Do not distribute
+4% increase in BFI NPS since August
4.4 average 5-star online rating improvement, up from 4.15 in
July 2023View entire presentation