Potbelly Turns Up the Heat on Strategic Growth in Florida

Multiple development deals underway as brand prioritizes additional franchise expansion in the state

CHICAGO, Aug. 01, 2023 (GLOBE NEWSWIRE) -- Florida is sizzlin’ hot right now, and it’s downright “toasty” as Potbelly rapidly extends its presence, bringing its signature sandwiches, soups and salads into new regions across the state.

Potbelly Corporation (NASDAQ: PBPB) announced today that it has nearly 50 locations in various stages of development throughout the state of Florida. Over the past year, the brand has finalized multi-unit agreements with five franchise groups to develop 46 shops in six critical regions: Tampa, Orlando, Fort Myers, Broward County, Gainesville and Panama City.

“Florida as a whole holds immense promise for Potbelly, and we are strategically expanding in the Sunshine State to reach our potential,” said Lynette McKee, senior vice president of franchising at Potbelly. “With experienced franchise groups ready to showcase the Potbelly difference, I have no doubt that we will continue to grow our loyal customer base as we bring our brand to new regions across the state.”

• Tampa – The brand’s accelerated growth efforts kicked off in September 2022, when Potbelly announced a deal with STA Management to build 14 shops. The group is expected to grow its current presence in the region from two units to eight by the end of 2024, with the next four shops slated to open in New Tampa, St. Petersburg, Clearwater, and Largo.
• Orlando – Potbelly signed a multi-unit agreement with Sugarland Investment Group LLC in November 2022 that will bring six new shops to Orlando over the next seven years. The group has already signed a lease for its first location at the Colonial Plaza in the up-and-coming Milk District.
• Broward County & Gainesville - Stellar Hospitality agreed to a deal in March that will add 16 units in two separate regions of the state, including 14 shops in Broward County, north of Miami, and two shops in Gainesville.
• Fort Myers & Naples – In June, Potbelly signed a shop development agreement for eight units with Innovative Consulting & Management Inc. in Charlotte, Collier, and Lee counties.
• Panama City – Potbelly entered a two-shop development agreement in July with father-son duo Daniel and Zachary Incaudo of Incaudo Inc. With Daniel's nearly 35 years in the food sales industry and Zachary's expertise in technology sales, the Incaudo team is poised to ignite the sandwich scene in Bay and Walton counties.