Q&A: The Great Greek president talks expansion plans, real estate strategy
The Great Great Mediterranean Grill is set to soon open its 100th location – with no signs of slowing down its growth.
Launched originally in Henderson, Nevada, in 2011, The Great Greek began franchising in 2019 and now operates 90-plus locations across 23 states. The chain’s menu features classic gyros, souvlaki skewers, rice bowls, traditional sides and more in an “elevated” setting, according to the brand.
To learn more about The Great Greek’s near and long-term expansion plans, Chain Store Age spoke with its president, Bob Andersen, who has led the company since 2021.
How would you describe The Great Greek’s target customer?
Our core customer wants a higher tier of quality in both their food and dining experience. The demographic skews toward health-conscious, active lifestyles, though we also cater to guests looking for indulgent options like gyros or desserts.
Broadly, it is a customer who seeks out premium fast-casual options.
How do you feel you differentiate yourselves not only from mom-and-pop Mediterranean restaurants, but also from national fast-casual chains like Cava and Sweetgreen?
We separate ourselves in three main areas: food quality, ingredients, and customized, cook-to-order preparation. We do not want to be a standard assembly-line concept. For example, if you order a steak souvlaki, we ask what temperature you would like it cooked. Combined with real plates and flatware, the personalized service model creates a heightened dining experience compared to competitors.
That differentiation has proven successful for our operators. In fact, our biggest operational challenge right now is simply finding high-quality real estate sites to open more restaurants.
What do The Great Greek’s expansion look like in the short and long term? Does the brand have annual goals for store openings?
Big picture, we feel we can build a $1 billion brand over the next 10 years. Achieving that requires continuing to select premier operators while supporting the growth of our existing franchise network.
We have been growing at roughly 40% annually, opening 20 to 25 restaurants per year. About half of that growth comes from existing operators expanding their portfolios, while the other half comes from new franchisees. The primary factor pacing our growth is site availability.
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Our immediate near-term target is scaling from 20 to 25 annual openings up to 50 locations per year. By 2028, we expect to be consistently opening 50 restaurants annually. Of the 50% opening with new franchisees, roughly 80% sign multi-unit development agreements.
From a real estate perspective, what site types and property formats does the brand target, and how is it navigating the lack of space on the market?
The primary challenge across commercial real estate is the scarcity of second-generation restaurant space and heavy competition for prime pads. We are actively educating the developer and retail community that The Great Greek provides a distinct, non-competing concept that brings a premium food and service model to a center.
We maintain a flexible real estate footprint. Our sweet spot is 1,700 to 2,200 square feet. We are deploying smaller footprints optimized for takeout and delivery, and prototypes featuring dedicated pickup and drive-thru lanes. We also operate in specialized venues, including T-Mobile Arena in Las Vegas and on campus at the University of Michigan.
As our multi-unit franchisees build longer development horizons, ground-up new builds are becoming a larger component of our portfolio. If a new build secures us a top-tier location in a high-performing development, we are fully prepared to commit to those longer development timelines.
What types of co-tenants does The Great Greek seek out where possible?
High-performing grocers such as Costco or Publix and daily-needs anchors drive essential daily traffic to a center. However, we also perform exceptionally well along high-traffic corridors anchored by premier national fast-casual brands like Chipotle, Panera Bread or Starbucks.
Trade-area wise, we seek active, dynamic corridors with a balanced mix of retail, office, multi-family and residential density. We target well-maintained centers with high visibility, strong co-tenancy, convenient ingress/egress and ample parking.
