Bojangles Reaches Deal to Expand in Virginia Beach

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Bojangles, one of the nation’s leading franchises famous for its chicken and cookies, today announced it has signed a multi-unit franchise development agreement to acquire five restaurants and develop five more in greater Virginia Beach. . The new locations will be scattered across Virginia Beach, Norfolk, Suffolk and Portsmouth. Yoshi Nakamura and Kirk Hartman of NAKA Capital Restaurant Group lead the development, an experienced duo with extensive experience in the fast food segment and franchise industry. Bojangles’ latest deal to expand into the Greater Norfolk area follows the brand’s announcement to expand into Texas, where around 50 restaurants are expected to open.

“We are thrilled to build on our recent development success and welcome Yoshi and Kirk to the Bojangles family. We are looking for experienced operators with a desire to grow, and Yoshi and Kirk fit that classification perfectly,” says Jose Costa, Director of Growth at Bojangles. “Their in-depth knowledge of the franchising industry and foodservice experience will position them for success with our brand. We look forward to opening new locations in the Virginia Beach market as we continue to expand the Bojangles national footprint.

A former director of Citi, where he co-led equity hedge fund strategy, Nakamura worked on Wall Street for 14 years. After his time at Citi, Nakamura joined the leadership team of Galaxy Digital, which became the world’s first publicly traded cryptocurrency merchant bank. During his time there, he developed a wealth of knowledge in the consumer and fintech sectors, which sparked his interest in various investments, including franchising opportunities. This knowledge helped him launch NAKA Capital Partners in 2020. NAKA Capital Partners owns and operates long-term value QSR brands such as Bojangles and their leadership experience includes tenures at Buffalo Wild Wings, Dominos Pizza and Speedway SuperAmerica, among other concepts. Kirk Hartman, a quick-service restaurant veteran, joined Nakamura and NAKA in 2021 to drive consumer initiatives and help Bojangles expand into Virginia.

Attracted by Bojangles’ strategic growth model, menus and prototype variations, Nakamura and Hartman will look to open their first new location in 2023. Both franchisees believe Bojangles’ strong brand awareness in Virginia and throughout the Southeast makes their latest investment with Bojangles a wise, strategic decision.

“Bojangles shows immense potential for growth, and the brand’s constant innovation allows it to differentiate itself from competing chicken brands and [quick-service restaurants]Nakamura explains. “We are entering the fastest growing category [quick-service restaurant], and we are excited about this opportunity. Bojangles is an iconic brand with a strong and loyal following, and we look forward to welcoming Bojangles fans to our locations in the Greater Norfolk and Virginia Beach areas.

In addition to its latest expansion deal in Virginia Beach, Bojangles has achieved strong development success in multiple markets. The concept’s expansion can be largely attributed to its industry-leading $1.9 million AUV and its unique position in the fast-growing chicken fast food space, now a strong part of the day the morning with 40% of its sales even before many competitors open their doors. . Additionally, Bojangles offers franchisees a wide variety of prototype options to enhance their portfolio, including the “Biscuit Theatre,” which allows customers to witness the brand’s beloved buttermilk cookies being made.

Bojangles franchise opportunities remain in all regions of the United States, including the Southwest, Northeast, Midwest, Mid-Atlantic, and parts of the Southeast. Applicants must have restaurant and business experience, as well as a minimum net worth of $1.0 million and liquid capital of $500,000. Operators who meet the preliminary qualifications can expect an investment ranging from $1,913,600 to $2,828,500.

The news and information presented in this press release have not been corroborated by RSQFood News Media or Journalistic, Inc.

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