IHOP PLANS 130 STORES IN 25 STATES.Byline: Brent Brent, outer borough (1991 pop. 226,100) of Greater London, SE England. The area is a rail and industrial center. Its manufactures include automobile parts, clocks and watches, and electrical equipment. Hopkins Staff Writer GLENDALE - IHOP IHOP International House Of Pancakes (restaurant chain) iHOP Information Hyperlinked Over Proteins IHOP International House of Prayer IHOP International H2O Project IHOP International House of Pain Corp. announced plans Monday to roll out up to 130 new restaurants within the decade, a huge expansion coming just eight months after telling its franchisees it would no longer bankroll bank·roll n. 1. A roll of paper money. 2. Informal One's ready cash. tr.v. bank·rolled, bank·roll·ing, bank·rolls Informal their operations. ``It's good they got someone signed up. It wasn't who they thought they'd get, though. They expected new blood,'' said Mike Smith, a restaurant analyst with investment bank Fahnestock & Co.'s Kansas City Kansas City, two adjacent cities of the same name, one (1990 pop. 149,767), seat of Wyandotte co., NE Kansas (inc. 1859), the other (1990 pop. 435,146), Clay, Jackson, and Platte counties, NW Mo. (inc. 1850). office. The expansion, which would increase the pancake pancake, thin, flat cake, made of batter and baked on a griddle or fried in a pan. Pancakes, probably the oldest form of bread, are known in different forms throughout the world. house chain's total by roughly 11 percent, will unfold unfold - inline over 25 states. Under IHOP's old system, the restaurant chain would have lent franchisees an estimated $1.8 million to build and open each new store, but the 37 operators tapped to lead this wave will instead rely on outside financing. In addition to the first wave of the expansion, IHOP is also working with an additional 40 franchisees on plans to add up to 130 more stores. Analysts who had questioned whether IHOP's new plan would be able to push development forward got their answer with Monday's news. In relying on existing franchisees, IHOP chose to tap its more seasoned operators, which analysts saw as good news. In addition to maximizing advertising dollars, the move puts more stores in the hands of large, multi-unit operators who have better financing to run the stores. ``It is a vote of confidence in our new operating model Operating Model is a term that is used in many contexts. In essence an operating model describes how an organization operates across both business and technology domains. The Operating Model describes what is important for the organization. as well as an indication of the compelling return on investment that an IHOP franchised restaurant represents from those who know our business best: our franchisees,'' said Julia Stewart, president and chief executive officer, in a statement. ``These initial commitments are with some of our best operators who have a proven track record of success within the IHOP system.'' High numbers of single-unit failures throughout the restaurant industry have made obtaining financing difficult, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. analyst Dennis Joe of the independent research firm Sidoti & Co. Those who already have a portfolio of stores and experience can persuade a private lender more easily to lay out the millions needed to get started. ``They indicated they wanted to look for more multi-unit operators a ways back, guys who could build five or more,'' Joe said. ``If they couldn't do that, getting them with their own cash would be extremely hard in the franchise business right now.'' IHOP shares closed up 5 cents at $33.20 on Monday afternoon. Brent Hopkins, (818) 713-3738 brent.hopkins(at)dailynews.com |
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