Entrepreneur’s Gwen Moran has written an uplifting article how the Fatburger, a fast casual hamburger joint, emerged stronger from a 2009 bankruptcy filing.
Shifting from a chain to a franchise model, the company has grown from 40 US locations to 120 locations worldwide.
How did Fatburger do it?
1) Reduced debt yielded positive cash flow.
2) Renegotiation of leases and vendor terms.
3) Revamped menu to lower prices.
4) With easier access to capital for Middle Eastern and Asia markets, first we’ve heard about this one, the company pivoted and shifted its growth strategy from US markets to international markets.