Well-known for its culture and authentic Austin, Texas vibe, Chuy’s was a local mainstay for 25 years with locations only in Texas. The founders were still very involved but looking for a growth strategy so they could retire and leave a legacy for continued cultural success and profitability. They secured private equity investment and engaged Foremark to expand into new markets.
Tex-Mex restaurant concepts are notoriously difficult to expand as the cuisine is so geographically and culturally specific. Foremark understood this challenge and offered an expansion strategy that relied on marquee sites set in cities with diverse, affluent populations. The result is that Foremark took Chuy’s from a regional favorite with 7 locations to a national one with 38.
Chuy’s had a successful IPO and the locations Foremark selected continue to perform extremely well.