Independent gourmet burger chain Burgertory has acquired fellow Melbourne-based fast food outfit New York Minute (NYM) for an undisclosed sum, marking the acquirer's first foray into the franchising market.
The purchase will see NYM's 11 physical stores re-branded under the Burgertory banner, but the NYM brand will continue to exist online with customers able to order its entire menu for home delivery or pick-up.
“This is just like McDonald’s buying all the bricks and mortar Hungry Jack's stores and converting them into McDonald's, but when you’re at home, both will still be available for online ordering,” Tayeh said.
“By acquiring New York Minute and leveraging its brand power, this only enhances our position in the premium burger market. This has never been done before in Australia as far as we know.”
Burgertory is set to open its first Sydney-based store in Ryde in October 2022 and remains on track to have nearly 50 stores by the end of 2023 after opening two new stores in the past month.
NYM CEO Antony Crowther will step into the new role of franchise director at Burgertory post-acquisition, bringing with him extensive experience in franchising and a desire to ensure the roll-out of the merged company is as seamless as possible.
“I am incredibly excited to join the most dynamic and exciting burger brand in the market today. This acquisition will enhance all of our existing stores across both networks and ensure viability in the increasingly volatile economic landscape we find ourselves in today,” Crowther said.
Burgertory founder Hash Tayeh also confirmed 10 per cent of the company's profits will be shared as staff incentives amongst its 400 team members. Provided stores reach specific targets, cleaners, cooks, cashiers, and managers are all set to benefit.
“It's an exciting time for all of us at Burgertory, and these first-to-market initiatives are being undertaken in order to thrive during the most challenging economic time. Businesses across Australia are collectively battling inflation, staffing and supply issues and never before has innovation been more important for businesses to flourish,” Tayeh said.
“Retaining excellent staff and attracting the best people in the business is vitally important right now, which is why I’m excited to announce such a unique incentive scheme. We have made sure the targets are very achievable and could see our team members pocketing a combined amount of up to $50,000 in bonuses each month. Now everyone can be rewarded, no matter what their position within the company.”
“My parents taught me food always tastes better when it is made with love. That same philosophy has inspired this decision. The best-tasting burgers in Australia will be made at Burgertory because the staff will love working here.”
Having moved from Qatar to Australia at 16 in 2007, Tayeh founded the 100 per cent halal Burgertory in 2018 after operating a string of other businesses, including donut manufacturer Creamy Crunchy Donuts and pizza and pasta restaurant Mipasto.
“My mantra has always been: if you work hard, be the best you can, and overdeliver on your promises, your customers and your team will reward you with their loyalty. I’ve had that philosophy in every business I've owned since my first business at 16, ‘Electronics on the Move’,” he said.
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