Dive Brief:
- TGI Fridays unveiled its “1-2-3 Strategic Vision” on Monday with a plan to target over 1,000 units and $2 billion in annual revenue by 2030, according to a press release.
- The plan covers four strategic pillars, including activating the brand, growing across markets, improving its franchised system and investing in people and leadership development.
- Fridays, which has nearly 400 units across more than 40 countries, has signed several development agreements to open over 150 units worldwide, the press release said.
Dive Insight:
The expansion plan marks a significant shift at the chain, which emerged from Chapter 11 in 2024. That year, the company closed dozens of domestic units and had less than 200 restaurants in operation as of October 2024.
In 2025, Ray Blanchette returned to the brand as its CEO — he previously held that post from 2018 to 2023 — and told Restaurant Dive that the brand was ready to grow.
The new plan will lean on various initiatives including menu and beverage innovation, improved guest experience, everyday value platforms, better digital guest experience and upgrades to its atmosphere, the company said.
“Our focus, as we accelerate our growth, is to resonate with the next generation of consumers while preserving the classic Americana feel and signature experience that has made the brand beloved in more than 40 countries,” Blanchette said.
The company will activate the brand by continuing to create experiences that “cultivate deep emotional connections and more reasons to celebrate,” the company said.
Fridays saw recent success with its TGI Elf Days, a holiday pop-up, that led to increased traffic, higher average checks and better online ratings across participating restaurants worldwide.
The second pillar, flexible growth across markets, reflects the chain’s plans to offer flexible formats and multi-channel growth models, including a mix of high-volume airport locations as well as right-sized hotel concepts and traditional restaurants.
Fridays also will boost franchise profitability with “enhanced support, operational excellence and strategic partnership,” according to the press release. Additionally, it will focus on leadership development as well as comprehensive training and performance initiatives that “empower team members and franchisees to deliver flair fueled, high energy guest experiences,” the company said.
The company appointed Phil Broad as president of global TGI Fridays to help lead the strategic plan. He previously worked at TGI Fridays U.K. as managing director from 1997 to 2001. Broad returned to the chain last April as president of international franchising where he expanded the brand across various global markets. He is now in charge of growing the brand across both domestic and international markets.
