TGI Fridays: Difference between revisions

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Historically, the chain's highest grossing location is at Haymarket [[Leicester Square]], which opened in 1992 in Central London. The Haymarket branch is also regarded as the 'most popular' branch as well as being financially most successful. In October 2009, Haymarket broke the world record for biggest profit made in any week, throughout T.G.I Friday's history, and has also been home to several past winners from the bartenders olympics, a contest started by Dan Scoggin .<ref>Flair bartending, en.wikipedia.era/wiki/Flair bartending</ref><ref>{{cite news|url=http://findarticles.com/p/articles/mi_m3190/is_n16_v28/ai_15135623|title=TGI Friday's forges ahead in 'unfriendly' territory – Europe – Special Report – Company Profile | Nation's Restaurant News | Find Articles at BNET.com<!-- Bot generated title --> | work=Nation's Restaurant News | first=Richard | last=Martin | year=1994}}</ref>
Historically, the chain's highest grossing location is at Haymarket [[Leicester Square]], which opened in 1992 in Central London. The Haymarket branch is also regarded as the 'most popular' branch as well as being financially most successful. In October 2009, Haymarket broke the world record for biggest profit made in any week, throughout T.G.I Friday's history, and has also been home to several past winners from the bartenders olympics, a contest started by Dan Scoggin .<ref>Flair bartending, en.wikipedia.era/wiki/Flair bartending</ref><ref>{{cite news|url=http://findarticles.com/p/articles/mi_m3190/is_n16_v28/ai_15135623|title=TGI Friday's forges ahead in 'unfriendly' territory – Europe – Special Report – Company Profile | Nation's Restaurant News | Find Articles at BNET.com<!-- Bot generated title --> | work=Nation's Restaurant News | first=Richard | last=Martin | year=1994}}</ref>

===Restaurant Closings===
A combination of the [[Financial crisis of 2007–2008]] and requirements by TGI Friday's Inc that franchisees remodel their restaurants had a very negative impact on the performance of many TGI Friday's stores. Remodeling expenses began hitting franchisees around the same time that revenue started dropping during the economic downturn. A significant number of franchised locations were unable to recover in the years following the financial crisis and restaurant remodeling requirements. In September 2009, 10 TGI Friday locations in Washington, Oregon, and California closed their doors after struggling to recover from the loss of business during the financial crisis. The franchisee operating the locations was no longer able to meet obligations to TGI Friday's Inc, so the parent company revoked their right to the TGI Friday's name. In Fall 2011, TGI Friday's also no longer had a presence in the Kansas City metro area after all four of the area stores closed. The franchisee, Meridian Restaurant Group, indicated that the stores were "unable to sufficiently heat up sales amid the chilly economy." The building that housed the Leawood, Kansas store was renovated and reopened as a new location for [[Oklahoma Joe's]]. A 12-unit TGI Friday's franchisee in the St. Louis area, Bi-State Bistro, also ran into financial problems. The franchisee filed for Chapter 11 bankruptcy protection in 2010; however, it was able to keep its TGI Friday's locations open and ultimately remain in business.<ref>{{cite web|url=http://www.king5.com/archive/61164687.html |title=All Washington TGI Friday's closing &#124; KING5.com Seattle |publisher=King5.com |date=2009-09-18 |accessdate=2013-03-03}}</ref><ref>{{cite web|url=http://www.bizjournals.com/kansascity/news/2010/11/16/kansas-city-area-tgi-fridays.html |title=Kansas City-area TGI Friday’s restaurants close - Kansas City Business Journal |publisher=Bizjournals.com |date= |accessdate=2013-03-03}}</ref><ref>{{cite web|url=http://independence.fox4kc.com/content/tgi-fridays-closing-independence-kc-metro |title=TGI Friday's Closing in Independence, KC Metro &#124; Events &#124; Independence News |publisher=Independence.fox4kc.com |date=2010-11-16 |accessdate=2013-03-03}}</ref><ref>{{cite web|author=Copyright Castle Law Office of St. Louis, P.C.. All Rights Reserved. |url=http://www.castlelaw.net/news/st-louis-owner-of-tgi-fridays-talks-bankruptcy-with-employees20100625.cfm |title=St. Louis Owner of TGI Friday's Talks Bankruptcy with Employees &#124; Castle Law Office of St. Louis, P.C |publisher=Castlelaw.net |date=2010-06-25 |accessdate=2013-03-03}}</ref>


===Counterfeit Alcohol Allegations===
===Counterfeit Alcohol Allegations===

Revision as of 16:57, 24 May 2013

T.G.I. Friday's
Company typeWholly owned subsidiary
IndustryRestaurants
GenreCasual dining
Founded(March 15, 1965 (1965-03-15)) in
New York City
FounderDaniel R. Scoggin
HeadquartersCarrollton, Texas, U.S.
Number of locations
992 (March 2011)[1]
Area served
Global
ParentCarlson Companies
WebsiteFridays.com

T.G.I. Friday's (often shortened to "Friday's" in most countries, and stylized "FRiDAY'S", or "T.G.I.s" in Ireland and the United Kingdom) is an American restaurant chain focusing on casual dining.

The company is a unit of the Carlson Companies. Its name is taken from the expression TGIF. The company asserts that it stands for "Thank Goodness It's Friday", although as of 2010 some television commercials for the chain have also made use of the alternative phrase, "Thank God It's Friday's."[2] The chain is known for its appearance, with red-striped canopies, brass railings, Tiffany lamps and frequent use of antiques as decor.

History

A TGI Friday's in Manahawkin, New Jersey that opened in 2003 and uses the new design
A TGI Friday's in Christ Church, Barbados, West Indies.

TGI Friday's,Inc. restaurant chain was founded by Daniel R. Scoggin and partners in 1971. Alan Stillman created the original concept in 1965 in New York where as an essence salesman he lived in a neighborhood with many airline stewardesses, fashion models, secretaries, and other single people on the East Side of Manhattan near the Queensboro Bridge, and hoped that opening a bar would help him meet women. At the time, Stillman's choices for socializing were non-public cocktail parties, or "guys' beer-drinking hangout" bars that women usually did not visit; he recalled that "there was no public place for people between, say, twenty-three to thirty-seven years old, to meet." He sought to recreate the comfortable cocktail-party atmosphere in public despite having no experience in the restaurant business.[3][4]

With US$5,000 of his own money and US$5,000 borrowed from his mother,[3] Stillman purchased a bar he often visited, The Good Tavern at the corner of 63rd Street and First Avenue, and renamed it T.G.I. Friday's after the expression "Thank God! It's Friday!" from his years at Bucknell University.[5][6] The new restaurant, which opened on March 15, 1965, served standard American cuisine, bar food, and alcoholic beverages,[4] but emphasized food quality and preparation.[5] The exterior featured a red-and-white striped awning and blue paint, the Gay Nineties interior included fake Tiffany lamps,[4] wooden floors, Bentwood chairs, and striped tablecloths, and the bar area added brass rails and stained glass. The employees were young and wore red-and-white striped soccer shirts,[5] and every time someone had a birthday, the entire restaurant crew came around with a cake and sang Friday's traditional birthday song. The first location closed in 1994,[3] and is now a British pub called "Baker Street"; the brass rails are still there.

Although Malachy McCourt's nearby eponymous bar preceded T.G.I. Friday's[7] and Stillman credited the media for creating the term, he had unintentionally created one of the first singles bars. It benefited from the near-simultaneous availability of the birth-control pill and Betty Friedan's book The Feminine Mystique:[5][3][4]

I don’t think there was anything else like it at the time. Before T.G.I. Friday’s, four single twenty-five year-old girls were not going out on Friday nights, in public and with each other, to have a good time. They went to people’s apartments for cocktail parties or they might go to a real restaurant for a date or for somebody’s birthday, but they weren’t going out with each other to a bar for a casual dinner and drinks because there was no such place for them to go.[4]

T.G.I. Friday's was one of the first to use promotions such as ladies' night,[5] and Stillman achieved his hopes of meeting women; "Have you seen the movie Cocktail? Tom Cruise played me!...Why do girls want to date the bartender? To this day, I’m not sure that I get it."[4] He and the restaurant benefited from its location—according to Stillman, 480 stewardesses lived in the apartment building next door[3]—and received publicity in national magazines. T.G.I. Friday's became so popular that it had to install ropes to create an area for those waiting in line, also unusual at the time for a restaurant. A competitor, Maxwell's Plum, opened across the street, and others soon followed.[4]

With fellow Bucknell graduate Ben Benson,[6] Stillman opened other restaurants, including Thursday's, Wednesday's, Tuesday's, and Ice Cream Sunday's. Franchising of T.G.I. Friday's began in 1971[5] in Memphis, Tennessee[4] in the Overton Square district; that location has since closed. In 1971 Dan Scoggin acquired the rights to eight major midwest cities. In 1972 he opened with the first of a new prototype in Dallas. The raised square bar and multilevel dining became the company standard. Dallas doubled the sales and tripled profits of Friday's previous best. Attracted by this performance, Alan Stillman merged into the Dallas franchise forming T.G.I. Friday's, Inc. Mr. Scoggin was the CEO for the next 15 years. He is credited with the new 200 seat prototype as well as many of the Friday's innovations including a large from scratch menu, potato skins, bartender olympics and a legendary offering of frozen drinks for the ladies. The company was sold to Carlson Companies in 1975. With this sale Mr. Stillman and the original investors departed. Mr. Stillman kept the original location and now married, founded Smith & Wollensky in 1977 with Benson. Mr. Scoggin continued as CEO on an earn-out contract and finalized his sale in 1980.[8] [3][4][6][9][10]

When the sale was finalized, Mr. Scoggin signed a new contract to continue as the company's CEO. When the company was passing through the 100 store mark it issued an Initial Public Offering in 1983 with Goldman Sachs. As a requirement of underwriting, Mr. Scoggin signed a new contract and did the road show. Mr. Scoggin developed the first international franchise and the template for future international development. The first restaurant was opened in the UK with Whitbread. Prior to his departure in 1986, the company was successfully positioned to appeal to a broader consumer profile. With help of bartender "flair" and high quality products, alcohol consumption was de-emphasized, emphasizing quality over quantity.[11] This market emphasis was climaxed with a FedEx DC-10 full of Beaujolais Nouveau arriving in the U.S. winning the famous would-wide race in the U.S. A book of Mr. Scoggin's business theories and philosophies is soon to be published.

The company became privately held again in 1989.[5] The focus was switched from singles to families.

Friday's has also been used as a restaurant for hotels run by Country Inns & Suites by Carlson brand. The largest Friday's franchisee is The Briad Group with about 70 locations in the United States.[12] An international franchisee was Whitbread PLC, the owner of TGI Friday's UK. Up until 2007, it had 45 locations in the UK. On January 17, 2007, Whitbread sold operating rights of all 45 restaurants back to TGI Friday's UK Limited (a consortium consisting of Carlson Restaurants Worldwide Inc. and ABN Amro Capital) thus exiting a partnership formed in 1986.[13] From 2008 to 2009, Guy Fieri was the spokesperson for TGI Friday's.

A brand extension, which features the Friday's concept combined with the atmosphere of a sports bar and is called Friday's Front Row Sports Grill, is found at two Major League Baseball stadiums which each overlook the playing field; Chase Field in Phoenix, Arizona and Milwaukee's Miller Park.

Historically, the chain's highest grossing location is at Haymarket Leicester Square, which opened in 1992 in Central London. The Haymarket branch is also regarded as the 'most popular' branch as well as being financially most successful. In October 2009, Haymarket broke the world record for biggest profit made in any week, throughout T.G.I Friday's history, and has also been home to several past winners from the bartenders olympics, a contest started by Dan Scoggin .[14][15]

Counterfeit Alcohol Allegations

On May 22, 2013, investigators with the New Jersey Division of Alcoholic Beverage Control (ABC) raided 29 bars and restaurants around the state, including 13 TGI Friday's franchises; the result of a year-long probe dubbed "Operation Swill". Investigators had received complaints from customers that the establishments were substituting premium brand alcoholic beverages with lower-cost brands, while charging them for the more expensive liquor. The investigators found that the bars filled premium-brand bottles with cheaper alcohol, "to fool the customer, and increase profits".[16] The ABC, with assistance from the State Division of Criminal Justice, seized bottles of open alcohol from the bars, and demanded records from the establishment's owners. A statement released by Friday's said it "was just made aware of this issue and is working closely with the franchisee and owner of the cited locations to review and investigate these serious allegations."[17]

Design

TGI Friday's in Goodlettsville, Tennessee

The newer T.G.I. Friday's franchises (as well as redesigned restaurants) are more contemporary, with wallpaper, granite exteriors, and red-and-white striped lamps instead of Tiffany. The exteriors have stucco, the entrance doors have "F" shaped handles, and a metal cup above the door has a stripe saying "In Here, It's always Friday". Most Friday's have a propeller and a rowing scull on display as part of their antiques, which are actually a part of a story told to all Friday's employees; the scull always contains a pair of saddle shoes and a bottle of champagne to remind employees of the value of teamwork, leadership, and celebrating success.

Kitchen sign in a TGI Friday's Restaurant

Menu

Friday's has a large menu with an emphasis on alcoholic beverages which includes their famous "Ultimate" drinks which are served in an 18 oz. (532 mL) glass, and often made with top shelf and darker liquors. They also focus on a variety of blended drinks that are signature to the Friday's name, such as the "Tropicolada" and the "Friday's Freeze". A section of the menu is dedicated to the "Jack Daniel's Grill", a selection of items with a special Jack Daniel's-branded sauce.

T.G.I. Friday's formerly served Atkins approved appetizers, entrées, and desserts. In 2006, the Atkins name was removed from the menu, but the restaurant continues to offer both low carbohydrate and low fat menu items. The UK menu offers gluten free items.

Licensed products

The company licenses its name to Heinz which produces a line of frozen foods sold in grocery stores. A line of snack items and pre-mixed liquor drinks are also licensed and sold. The franchise’s exteriors were redesigned in 2009 by Gilfillan Callahan Architects, represented by Carlson Restaurants Worldwide.

Global operations

TGI Friday's around the world.

Friday's currently has over 920 restaurants in 61 countries (excluding the United States).[18] {{Top}} may refer to:

{{Template disambiguation}} should never be transcluded in the main namespace.

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References

  1. ^ T.G.I. FRIDAY’S® FACTS
  2. ^ T.G.I. Friday's Restaurants Timeline. Also, their menu cover page says "Thank Goodness It's Friday".
  3. ^ a b c d e f Patton, Phil (1994-12). "AGENTS of CHANGE". American Heritage. Retrieved February 22, 2011. {{cite web}}: Check date values in: |date= (help)
  4. ^ a b c d e f g h i Twilley, Nicola and Krista Ninivaggi (November 15, 2010). "A Cocktail Party In The Street: An Interview With Alan Stillman". Edible Geography. Retrieved February 22, 2011.
  5. ^ a b c d e f g Prewitt, Milford (March 29, 1993). "Stillman: Friday's filled a generation's need". Nation's Restaurant News. Retrieved February 22, 2011.
  6. ^ a b c Witchel, Alex (December 30, 2008). "A Grown-Up Takes the Long View". The New York Times. Retrieved February 23, 2011.
  7. ^ Schneider, Daniel B. (December 27, 1998). "F.Y.I". The New York Times. Retrieved February 22, 2011.
  8. ^ "Granddaddy of singles bars: a look at T.G.I. Friday's today". Nation's Restaurant News. September 1, 1986. Retrieved February 22, 2011.
  9. ^ "Handbook of Marketing Research Methodologies for Hospitality and Tourism", Dr. Ronald A. Nykiel, 2007
  10. ^ High Profile, "Dan Scoggin", The Dallas Morning News, Sunday, January 27, 1985, Section E
  11. ^ Flair bartending, en.wikipedia.era/wiki/flair_bartending
  12. ^ The Briad Group, Hoovers – accessed January 10, 2010
  13. ^ Media > Press Releases > Archive
  14. ^ Flair bartending, en.wikipedia.era/wiki/Flair bartending
  15. ^ Martin, Richard (1994). "TGI Friday's forges ahead in 'unfriendly' territory – Europe – Special Report – Company Profile". Nation's Restaurant News. {{cite news}}: Text "Find Articles at BNET.com" ignored (help); Text "Nation's Restaurant News" ignored (help)
  16. ^ Morley, Hugh (22 May 2013). "N.J. raids restaurants in Bergen, Passaic counties in liquor scam probe". NorthJersey.com. Retrieved 23 May 2013.
  17. ^ Gingras, Brynn (23 May 2013). "13 TGI Fridays in New Jersey Accused of Faking Premium Liquor". NBC 4 New York. Retrieved 23 May 2013.
  18. ^ "Our Heritage". Global.tgifridays.com. Retrieved 2013-03-03.
  19. ^ "T.G.I. FRiDAY'S! 맛이 즐거운 곳, 프라이데이스로 오세요~^_^". Tgif.co.kr. Retrieved 2013-03-03.
  20. ^ Jersey. "T.G.I Fridays Jersey Restaurant & Bar | Dining & Nights Out". Tgifridays.je. Retrieved 2013-03-03.
  21. ^ "T.G.I. Friday's FRiDOiDS blog". Fridoids.co.uk. Retrieved 2013-03-03.

External links

Retrieved from "https://en.wikipedia.org/w/index.php?title=TGI_Fridays&oldid=556606603"