Controversies ĭuring the COVID-19 crisis, Potbelly Sandwich Shop applied for and accepted $10 million under the PPP ( Paycheck Protection Program) which the United States government created for small businesses to maintain workers through the COVID-19 crisis. The company signed a multi-franchise agreement with India's Kwals Group, with plans to open five franchises in the country by the end of 2018 and 20 locations over the next five years. In December 2017, Potbelly opened its first franchise in India with a new location in Cyber City, Gurgaon. Early that month, Potbelly announced it was considering putting itself for sale. It had 424 owned stores and 54 franchised stores. By August 2017, 60% of Potbelly's business came from lunch. Potbelly opened its first European store at Westfield Stratford City, London, in July 2015 and its first Canadian store in Toronto in October 2016. In 2011, Potbelly opened two franchise stores in Dubai in the United Arab Emirates these are the first international Potbelly locations. A second drive-through store was added shortly thereafter in Waukegan, Illinois. On November 5, 2007, a new Potbelly store in Glen Ellyn, Illinois became the first to feature a drive-through. "You can't always have one in each store," he said.Įven if some future stores are missing a potbelly stove, Keil says, the atmosphere won't suffer.A view inside the first Potbelly Restaurant seating area Even the namesake potbelly stove is an endangered species. Keil acknowledges that the decor is expensive to recreate, and he has moved away from stocking his restaurants with antiques. One thing working in Keil's favor is that he is not selling something trendy like fish tacos.ĭuplicating the Potbelly ambience is another matter. Yet initially he will open shops in three suburban locations rather than in the District, because the leases were more favorable. He chose Washington over other large cities for his first venture outside Chicago because he lived there for 12 years. Prime urban real estate also is hard to find, as he discovered in Washington. Keil would not disclose earnings, other than to say the chain is profitable. Potbelly's is trying to grow at a time of fierce competition in the fast-food arena that even has industry leader McDonald's struggling to boost same-store sales.Ī marketing emphasis on value and a tight labor market has pushed down profit margins at several chains, in fact. "If it only works with urban density, expansion will be somewhat limited," said Neil Stern, partner with Chicago-based retail consulting firm McMillan/Doolittle. Potbelly's plans to open a restaurant in Deerfield in May.
Now, the challenge for Keil is whether suburban families will drive 2 miles for a submarine sandwich in a Formica-free setting. "I always bring my family here when they visit because it's got its own style," said Dana Hub, a 28-year-old consultant with Accenture, formerly known as Andersen Consulting. The eclectic atmosphere appeals to Potbelly's customers, primarily young, white-collar workers. One sign reads "Gentleman will behave, everyone else must." The interior reminds a visitor of someone's attic, filled with rustic-looking bookcases, knickknacks such as an erector set, and hand-painted signs with a sense of humor. Keil also has been careful to maintain the original Potbelly's dark-wood decor. Keil's favorite, by the way, is roast beef without pickles, and now without mayonnaise because he is trying to lose weight. Sandwich prices have gone up a dime, to $3.59, due to increased labor costs. He has added soups, desserts and smoothies, but the sandwich menu from the original store remains the same except for the recent addition of Big Jack's PB&J, a peanut butter and jelly sandwich named after Keil's 4-month-old son. At Potbelly's, Keil hasn't messed with the relatively simple concept.
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