A burger restaurant that got its start in Delaware is headed for a public offering of stock.
Wayback Burgers got its start with a restaurant just outside Newark, known as Jake’s. After adding a number of stores, the company headquarters was moved to Connecticut.
The franchise system has expanded and looked for non-traditional store development, including existing locations in stadiums, Walmart’s and Naval bases. It later dropped the Jake’s name in favor of Wayback, a term intended to convey old fashioned values. The company features meat that is never frozen, as wll as milk shakes.
Earlier this year, Wayback Burgers retained The Oxford Center for Entrepreneurs to complete a study. With more than 125 locations to be open by the end of 2015 and 350 stores already in development worldwide, Oxford Center for Entrepreneurs recommended an initial public offering as the best strategic alternative for Wayback Burgers to accelerate its franchisee pipeline of growth.
“We are pleased to announce our relationship with The Oxford Center for Entrepreneurs.” said John Carter, founder and CEO of Wayback Burgers. “With strong and steady debt-free growth, locations in 22 states, new locations opening at a rate of two per month, in addition to an international development schedule in 32 countries, now is the right time for Wayback Burgers to explore all growth opportunities. The Oxford Center for Entrepreneurs, knowledge, passion and creativity in the entrepreneurial experience have already been an invaluable asset to Wayback Burgers.”
Wayback faces a competitive market, with family owned Five Guys growing rapidly. Five Guys features a limited burger and hot dog menu, while Wayback offers speciality burgers, along with shakes.
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