FAT Brands Makes its Debut on the Nasdaq
Provided By - Video Elephant on October 23, 2017
Andy Wiederhorn, Founder and CEO of FAT Brands, joins Cheddar to celebrate the company going public at the NASDAQ under the ticker "FAT." The stock opened at $12.80, up from its IPO price of $12. The company raised $24 million.
Wiederhorn explains how one of its biggest brands, Fatburger differs from other burger joints such as Five Guys or In-N-Out. He says other chains have copied Fatburger, which opened 70 years ago and hasn't changed its recipe since.
Plus, how is being a franchisor good for your bottom line? Wiederhorn says his company brings home 50% in revenue margins compared to other 3% earned by other restaurants because FAT Brands doesn't own or operate the actual establishments. He talks about franchisees wanting a piece of the pie, stating the company has 300 locations opening in the near future.