According to a report published in the Wall St. Journal, Bojangles, a fried chicken fast food chain based out of Charlotte, North Carolina, is considering a $1.5 billion sale. The chain currently has more than 800 stores in 17 states and more than 9,000 employees.
As the majority of its stores are located in the Southern region of the United States, many Americans are unfamiliar with the brand or its food. There are reasons, however, for fans to worry about the sale of the chain, and these are the reasons why.
1. Bojangles is a True American Success Story
Opening a thriving restaurant chain, especially one focused on fried chicken, is not easy. The competition is fierce, as Kentucky Fried Chicken is the industry leader with more than 30,000 restaurants. Popeyes, founded in Louisiana in 1972, boasts more than 3,700 restaurants.
Bojangles was founded in Charlotte in 1977 by Jack Fulk and Richard Thomas. While the brand has not grown as rapidly as its competitors, it is just as popular with its fans. The quality and consistency Bojangles is known for have lasted through multiple sales.
2. The Restaurant is Moving Into Other States and Countries
The fast food industry has been in bad shape over the last decade as chains struggle with rising wages and food costs. It has become normal to hear that a popular chain is closing hundreds of stores around the country, but Bojangles is moving in a different direction.
The Charlotte-based company is thriving and opening up in new markets, including Arizona, California, Nevada, and New Jersey. Bojangles has also expanded on a global level, with restaurants in China, Jamaica, Mexico, and the Cayman Islands.
3. Bojangles is Thriving While Other Restaurants Are Struggling
Thanks to rising wage requirements in many states along with the rising cost of food, many fast food franchises are struggling in the current economic environment. Bojangles is not one of those stores.
While other restaurants are closing locations, Bojangles is rapidly adding them. One of the keys to the chicken company’s success is that it has taken a patient approach when it comes to adding new stores. As a result, the chain does not have anywhere near the amount of underperforming restaurants as their competitors.
4. Ownership Changes Could Mean Changes
While Jack Fulk and Richard Thomas were the original owners, Bojangles has had several different owners over time. The most recent sale was to the Jordan Company in 2019. This has been a success story as the company has continued to grow and expand.
Continued success won’t be guaranteed under a new ownership group. Many times, these groups look to institute changes into the business as they bring in their own standards and practices. Many successful food chains have seen negative changes after a sale, and fans will hope that the same thing doesn’t happen to Bojangles.
5. That Could Hurt One of the Most Impressive Menus in the Industry
It is easy to get used to fast food menus, as most restaurants only concentrate on offering specific things. Bojangles is different, offering many items not commonly seen at chains.
Focused on its Southern background, Bojangles features menu items like ham breakfast biscuits, Southern gravy and biscuits, and side items like dirty rice and pinto beans.
When companies are purchased, things can be cut from the menu arbitrarily, and that could be bad news for some of the more unique items on the Bojangles menu.
6. Will This Affect the Brand’s Southern Roots?
As noted above, Bojangles is very focused on its Southern roots, and nearly everything about the chain reflects that. While the brand has long been growing and moving into different territories, the bulk of the franchises have remained in states like North Carolina, South Carolina, and Florida.
A new ownership group could look to expand in a much faster way. And the group may decide that in order to appeal to customers in different areas, it might be best to get rid of some of the more overt Southern flourishes. And that would be a real shame for a brand that has been able to keep its identity as it grew.
Why Mess With Something That’s Working?
Bojangles has not only had success as a restaurant but in outside endeavors as well, and you can find many of its products in supermarkets. That includes the chain’s famous spices and its honey mustard sauce. Bojangles has also made an alcoholic version of its iced tea, which is also available in stores.
When a business is having as much success as Bojangles is, the smartest advice is usually to just leave it alone. So that calls into question the decision to sell and leaves one to wonder if it will work out in the long run.
Will Franchisees Maintain Their Autonomy
Bojangles has been good to business owners who want to open up their franchises. The company brings strong brand recognition and reputation. The restaurant is also popular during breakfast time, which helps their franchises maintain profits.
Those franchisees who have worked with the company have done very well. The concern anytime a company is purchased is whether or not they will be able to maintain their autonomy or be forced to adhere to a new set of rules. This will be a question the company has to answer.
Will the Stores Prioritize Profits Over Customer Experience?
When private firms purchase companies, they are often doing so because they think that it will make them money. And sometimes, those concerns override the things that make a restaurant special.
Bojangles fans should take heart in the fact that the restaurant has been sold several times and the quality consistency has stayed the same,e and in the event that another sale goes through, hopefully that will happen again.