Chick-Fil-A's Dan Cathy Says Opening In This Location 'Is The Big Prize'
To say that Chick-fil-A is expanding is an understatement. In just the past 10 years alone, the 65-year-old company has nearly tripled in sales and, in 2018, the fast food restaurant increased its revenue in America by 16.7% (via Business Insider). Nation's Restaurant News further reports that, in 2020, Chick-fil-A did $10.8 billion in U.S. sales, making it the fourth biggest restaurant in America. And with more expansion on the horizon, the sky appears to be the limit for Chick-fil-A.
The company hit a few snags in the past when they attempted to go international and open stores in the U.K. and South Africa, and although there was money lost and disappointment gained, the obstacles did not stop Chick-fil-A from growing domestically — and now they once again have their sights on expanding abroad.
In 2019, under the leadership of CEO Dan Cathy, the chain successfully started to expand into Canada and will soon be opening up more locations in Toronto as well as in areas of Puerto Rico (per MSN), but there is one region that Cathy says he would love to attend future grand openings, though the new incoming CEO will have to be ok with it.
On November 1, Andrew T. Cathy (Dan's son) will become the new head honcho of Chick-fil-A, and Dan tells the Atlanta Business Chronicle that it is a great time for the transition. As he says, "You don't want to do it when the wheels are falling apart." And the wheels are certainly steady as can be right now for the massively successful company. Here's where Dan Cathy would put new locations if he had to choose.
Chick-fil-A is excited to expand in these areas in particular
Business Insider reports that America's favorite chicken restaurant is so successful, and that classic chicken sandwich is so craved, that their long drive-thru lines actually have about 30% of customers leaving them. And that type of demand is exactly what's fueling Chick-fil-A to consider even more future expansions.
Beyond the U.S. though, the chain has plans to (eventually) open locations in Europe and South America. And outgoing CEO Dan Cathy tells Atlanta Business Chronicle in an exclusive interview that "... Asia for me is the big prize. So I hope they'll still let me have a Chick-fil-A name badge, and I can still get out there for some of those grand openings, which we are very excited about."
Cathy also excitedly shares with the Atlanta Business Chronicle that he sees endless possibilities for the chain on that continent: "If we can be the best of the best in the U.S. market, then Katy bar the door as to what's going to happen when we get into Asia. I am so excited about that."