​Big Table Group Trials Revamp for Frankie & Benny's

Big Table Group has embarked on a significant trial of a refreshed menu at three Frankie & Benny's locations, tapping into the brand's New York-inspired origins. This move follows the discovery that many of the remaining Frankie & Benny's outlets are outperforming neighbouring restaurants, signalling an opportunity to revitalise the brand.

The trial involves a reimagined food and drink offering, enhancements to the service, atmosphere, and marketing strategies, and investments in capital expenditure. Big Table Group's CEO, Alan Morgan, aims to shift consumer perceptions of the brand by focusing on the popular trends of American comfort food and Italian-American cuisine. The new menu will introduce items such as bagels and expand the dayparts to include breakfast, brunch, and lunch.

Concurrently, two additional Frankie & Benny's locations will be converted into Bella Italia restaurants. Although Bella Italia typically generates lower sales, it is more profitable. These strategic changes come after Big Table Group acquired the leisure division from The Restaurant Group (TRG) for £7.5 million last year.

Morgan optimistically assesses this acquisition, stating, "From a profit conversion perspective, this is going to turn out to be the best acquisition we've ever made. It's a perfect example of how one man's trash is another man's treasure. The beauty is that it works for both parties."

The acquisition provided Big Table Group access to valuable leisure park locations and opportunities for cost savings and operational synergies. For TRG, the sale offered a solution to shareholder concerns and allowed the company to focus on its core business while facilitating a sale to Apollo.

Morgan is particularly pleased with the financial gains, noting, "For a business I was paid £7.5 million for, I'm very pleased with the progress and money we're making."

Initially, the plan was to convert most of Frankie & Benny's restaurants into other Big Table brands, such as Banana Tree and Las Iguanas. However, after transforming the leisure estate from an EBITDA loss of £2 million to a gain of £4 million within seven months, Morgan is reconsidering the potential of Frankie & Benny's brand.

"Some of these sites are generating significant revenue. There's still a bit of brand value. Let's take the time to understand it a bit more," Morgan explained. Research findings on Frankie & Benny's have been overwhelmingly positive, though the brand faces the challenge of overcoming the common misconception that it no longer exists. This misperception is rooted in the drastic reduction of its locations, from 250 to just 50 in recent years.

"It's tough to tell people a brand they've known for many years has changed," Morgan admitted. He pointed out that many people still believe Frankie & Benny's and Chiquito have gone out of business.

Despite these communication challenges, Morgan sees significant potential in the brand, noting that its average weekly sales are considerably higher than those in the broader casual dining market. Together with Debbie Husband, Managing Director of the leisure division, Morgan and the Big Table team are exploring further ways to boost profitability.

One such initiative is to enhance the value of brunch, an already substantial segment for Frankie & Benny's and a daypart that aligns with current consumer trends. With the growing popularity of comfort food and Italian-American cuisine, Morgan believes the brand is well-positioned to capitalise on renewed consumer interest.

"Both of those are literally what Frankie & Benny's does. It has a historic reputation that isn't positive with people who no longer use it. Average weekly sales in these sites are massive, bigger than all the other brands generally on retail parks," Morgan said. "Customers are choosing Frankie's over most businesses next to them. There's just no one who believes they are there!"

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