Bojangles Inc (NASDAQ:BOJA) has made a new addition to its expanding network of franchisees. That new franchise partner is Bo Forever. The companies have signed a franchise development agreement that will see Bo Forever open and operate four Bojangles-themed restaurants in Pennsylvania in the next four years.
Bo Forever is already active in the restaurant business. It operates four restaurants and several convenience stores. As such, Bo Forever will be leveraging its expertise and experience to help grow the Bojangles brand in Pennsylvania. Though the initial agreement is for four new Bojangles stores in Lehigh Valley, Pennsylvania, there is room to expand the project to include stores in other locations such as Quakertown, Bethlehem, Easton and Allentown.
“Our brand is growing and we anticipate entering several new markets over the next few years. So, we are actively looking for strong, successful business professionals, like the team at Bo Forever, to be part of the Bojangles’ team,” said Randy Icard, the chief of franchise development at Bojangles.
Bojangles boasts nearly four decades of experience in serving unique food flavors to its base of customers. Foods served at Bojangles stores include buttermilk biscuits, sandwiches, and flavorful fixins.
Updated restaurant design
Bojangles is signing Bo Forever for franchise network expansion at a time when it is also working to give its restaurant design a facelift. The company has already begun work on the first concept restaurant and it hopes the design change will enhance customer experience. The first newly designed store coveres 3,900-square-foot and is expected to open early next year.
Bojangles posted EPS of $0.25 on revenue of $133.2 million. The results improved from a similar quarter last year and topped the consensus estimate that called for EPS of $0.21 on revenue of $132.6 million.
Bojangles, whose shares are up more than 12% in 2016, retreated less than 1% in the last session.