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Kildares Owner: 25 Restaurants in 3 Years, 45 in 5 Years.
This just in from the Philadelphia Business Journal:
Dave Magrogan, owner and CEO of DMG Group, which includes six pubs, a Doc Magrogan’s Oyster House and a recently opened third restaurant concept, Grady David’s, hopes to have 25 restaurants by 2010, he said.
“I still have on my wall our five-year plan, which was to open three restaurants. We’ve been in business four-and-a-half years and we have double that,” Magrogan said in an interview at the Kildare’s on Head House Square in Philadelphia.
Last year, sales topped $15 million. For the current year, Magrogan estimates sales of $20 million, including new restaurant growth.
Let’s do the math shall we? 25 restaurants - 6 he already owns / 3years. That’s an impressive 6.33 restaurants a year. In order for Magrogan to stay on pace he needs to open a new restaurant every 1.89 months by this time next year. Wishful thinking or ambitious reality? It doesn’t seem like Magrogan’s ambitions will end there.
“Our plans,” said Magrogan, “are to open 45 more Kildare’s in the next five to seven years.” - 10/26/06 Chestnut Hill Local
How many Kildares, Doc’s, and Grady David’s can the tri-state area support? Could Magrogan be looking at a national chain? Anyone know anything they can share?
Get the whole story on Dave Magrogan’s expansion.
6 Comments So Far
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Keep up the good work Dave I see no reason stopping this plan from happening. With proper management and cash flow this is a reasonable goal especially with the different types of restuarants being opened.
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I am not excited. All I know is that the food at Doc’s is mediocre *except the oysters are great and the food at Kildare’s is almost inedible. Maybe Dave should concentrate on the actual food instead of the restaurants (which I will say are beautifully made). Anyway, he better try for national b/c I don’t know how many kildare’s we can take. It will be just another TGIFridays, but worse.
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oh great, 17 more mediocre restaurants to look forward to. I hope they have bud light on tap.
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Well he has opened 3 different varieties of restaurants. It takes time to build things but I don’t see things as irrepairable or broken. The meau recently changed at Doc’s and there are daily food specials that are offered. Soon there will be some new daily specials and offerings on the oyster front. Don’t judge a man as a failure because he has a dream or a goal. Be a believer!!! People probaly thought the same thing at one point that you were crazy if you though a man would walk on the moon one day!!!!!!!!
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hey - i had the experience to work as a general manager for the company
talk about employee burnout and and unhealthy work environment
they should focus on the task at hand and produce quality product before moving forward with a no limit attitude
god bless and good luck
though -
eventually the well will run dry… -
Dave Magrogan’s bold enthusiasm is matched only by his savvy business sense and I wish him well in his ongoing endeavors.
As someone who had the opportunity to get an inside peak at his properties via hospitality writing and consulting, I got the sense that his Kildare’s brand generally succeeds thanks to stringent training guidelines and a seriousness level toward its food and management.
And his newest creation, Grady David’s is on par with the rest in terms of quality and dedication toward the customer and worker alike.
I predict it will become a smash-hit in the markets it enters.My only hedge in the whole “45 in 5 years” philosophy is about oversaturation. Applebee’s started out as a fine homegrown idea until success burgeoned the entity into a bloated, corporate beast. Thus, so many closures in recent years…
But this is Dave Magrogan who is dreaming and then doing it.
I wish him well and hope he acheives all his is reaching for, and more.