Record-breaking franchise coming to Liverpool
US restaurant chain TGI Friday’s is set to come to Liverpool in a franchise deal, that is believed to be, the biggest a restaurant has ever been involved in outside of the capital.
The chain has been looking to set up in the city following the highly successful development of Liverpool ONE complex, which features a variety of shops along with numerous other franchised restaurants.
TGI Friday’s has bought the site currently occupied by fellow restaurant franchise Pesto, the Liverpool Confidential reports. Pesto had acquired a 25-year lease on the outlet, but TGI Friday’s offer of £1.3 million was too good not to accept.
Jeremy Collins, who advised Pesto on the deal, told Liverpool Confidential: "The offer was so substantial that it was difficult to reject and the proceeds will enable Pesto to reinvest in the rollout of its Pesto in the Pub concept."
Donna Howitt, Liverpool ONE's Marketing and Business Performance Director, also commented on the news. She said that the complex was 'thrilled' to welcome TGI Friday's to its leisure terrace area.
Franchisees with TGI Fridays generally already have experience of working within the restaurant industry, but the business does provide ongoing support throughout the term of the franchise agreement, which usually lasts for a minimum of five years.