Over the last year, quick-service restaurant (QSR) chains have been noting two major shifts in consumers’ appetites: increased interest in “wholesome” foods and in indulgent comfort foods. The rapidly growing restaurant company WOWorks, formed in December as a holding company for Centre Lane Partners, LLC, has been taking note of the former — and as of its latest acquisition, it now has four health-centric quick-service and fast-casual restaurants in its portfolio.
On March 11, the company announced its acquisition of Greek fast-casual franchise The Simple Greek. In his statement, WOWorks CEO Kelly Roddy emphasized the company’s growth and the restaurant chain’s health-oriented branding, saying, “We are thrilled to welcome The Simple Greek to the WOWorks family during this exciting time of growth within our portfolio of restaurant brands. Guests are looking for menu choices that do more than merely sate their appetite in the moment, but serve as fuel to help nourish their mind, body and soul. With a menu centered around the Mediterranean Diet, The Simple Greek fits perfectly into a healthy, active lifestyle.”
Centre Lane Partners, which acquired QSR Saladworks back in 2015, created the restaurant group upon the acquisition of the Mediterranean restaurant chain Garbanzo Mediterranean Fresh and superfood bowl chain Frutta Bowls. The WOW in the name stands for “Watch Out World”— as Roddy, who is also the CEO of Saladworks, told Franchise Times, “Everyone else that creates a holding company to buy franchises — insert inspirational word followed by the word ‘brands.’ We thought we’d be different.”
Upon the formation of the WOWorks group, the company identified four trends to which it specifically geared its offerings: demographics, psychographics, lifestyle and convenience. As far as demographics, the statement specified that these brands are targeted towards millennial and Gen Z consumers, “comprising over 60 percent of the U.S. population.” For psychographics, the restaurant group is positioning its branding toward a “shared mindset valuing personalization, customization, self-expression and connection.” Lifestyle-wise, the brands are aimed at consumers’ appetite for nutritious offerings. As far as convenience, the company noted consumers’ desire for options that “include but are not limited to dine-in, carryout, online ordering, curbside pick-up, delivery, ghost kitchens, food trucks, virtual brands and stores within grocery retailers, airports, hospitals and military bases.”
The group’s offerings appear to be geared specifically to habits that formed or accelerated during the pandemic — PYMNTS data indicates that 39 percent of consumers are now seeking out healthy foods more than before the outbreak. Additionally, the mass adoption of off-premises offerings such as “carryout, online ordering, curbside pick up, delivery [and] ghost kitchens” has especially been motivated by the events of the last year, as consumers seek out low-contact ways to enjoy restaurant meals.
PYMNTS research from this month’s Delivering on Restaurant Rewards report finds that 81.5 percent of QSR chain customers are ordering food online, as are 82.3 percent of table-service chains’ customers. Additionally, 34.9 percent of restaurant customers would be inclined to spend more if restaurants offered curbside pickup, and 40 percent would be so inclined if they offered online ordering. By prioritizing these changing tastes and habits, WOWorks may be positioning itself for rapid growth in the coming years.
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