In 2021, franchising began booming as more opportunities for growth arose following the closure of nearly 80,000 restaurants. That second generation space provided a cheaper alternative to ground-up development. Despite rising menu prices, restaurant experiences remained in high demand from customers, and many new and existing operators jumped into the segment to expand profitable chains.

Several emerging chains have begun franchising since then, including 30-unit Modern Market, which signed its first franchising deal in 2022 for 41 units to more than double its store count. Many emerging and established chains, like Subway, have focused on well-capitalized, multi-unit operators because they have the infrastructure and experience to expand a brand profitably. 

The deluge of large deals that would double store counts continued into this year, with the likes of 30-unit Hawaiian Bros signing its first multi-unit deal for 75 stores. Crisp & Green signed its largest deal ever for 40 new restaurants. Caribou Coffee, which opened up domestic franchising in 2021, ended up signing deals for 300 units earlier this year. Pret extended its relationship with existing franchisee Dallas International, which will take control of 50 units across the Northeast and develop 10 more along the East Coast.

Check out the biggest franchise agreements signed this year below.