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.
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