TGI Fridays plans four new outlets here, hiring over 150
US grill chain wants 75-100 eateries in South Asia and S-E Asia; S'pore branches could yield $12m annual revenue
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American bar and grill chain TGI Fridays (TGIF) which once had outlets in Singapore is making a comeback. On Friday, it announced plans to open between 75 and 100 restaurants across South Asia and South-east Asia, including at least four in Singapore, over the next 10 years.
The deal, which will be executed in partnership with Singapore master franchisor or Universal Success Enterprises, is the chain's largest ever, chief executive Ray Blanchette said at a signing ceremony on Friday.
This will involve around $170 million in investments and generate some $500 million in revenue for TGIF during the 10-year period. Most of the outlets will be in India, as well as Nepal, Bangladesh, Thailand and Vietnam.
Mr Prasoon Mukherjee, founder of Universal Success Enterprises, said $10 million will be invested to open four outlets in Singapore, which are expected to generate $12 million in revenue per year.
This is expected to create around 150 non-managerial jobs and 20 roles at the management level. Mr Mukherjee added: "All franchise profits and royalties of around $25 million will be booked in Singapore, where we are based."
To offset high rental costs in the Republic, he said the franchise is aiming to open outlets within popular hotels. "This will enable us to negotiate better rates, such as paying a percentage of sales to the hotel," he said.
Mr Blanchette said some outlets here will also open in malls as well as popular entertainment areas, and target middle-to upper-class diners.
No decision has been made on when or where the first of the four outlets will open.
TGIF is the world's largest and one of America's best-known casual bar and grill chains with 385 franchised restaurants in over 51 countries, including 22 new locations in 2022 alone.
The chain is popular for its cocktails and American cuisine, with customers drawn to the place "to socialise and celebrate family occasions", Mr Blanchette said.
In Singapore, the first TGIF was rolled out in Penang Road in 1992, with two other branches in Orchard and East Coast roads popping up in 2017. All three outlets, which were opened by other franchisors, closed down within two years of their launch.
In 2019, competitor Chili's announced on Facebook that it had shut all its restaurants in Singapore after about a decade in business.
Outback Steakhouse also closed down during the pandemic.
Mr Blanchette said TGIF is ramping up its expansion plans after tying up with Mr Mukherjee. They first met 30 years ago at a TGIF outlet in Pennsylvania in the United States, where Mr Mukherjee was a kitchen manager.
In 2019, Mr Mukherjee opened the first three TGIF outlets in India, and previously introduced Outback Steakhouse in Singapore, Malaysia, Indonesia, Thailand and the Philippines.
Headquartered in Singapore and with operations in South-east Asia, Universal Success Enterprises is the largest developer of real estate in eastern India - with more than 10 million square feet of properties.
