What's Happening?
Jeff Rigsby, a prominent franchisee in the food and beverage industry, has sold a majority interest in his Bojangles franchise group to Eyas Capital. Rigsby, who has been involved with Bojangles for over 30 years, will remain a minority owner and continue to serve on the board while also engaging in consulting roles. This decision marks a significant shift in Rigsby's career, allowing him to focus on other ventures, including his own brand, Rigsby's Wings & Grill, and new franchise agreements with Keke's Breakfast Cafe. Rigsby and his wife have signed a five-store development agreement with Keke's, planning to open locations in upstate South Carolina. The couple's decision to invest in Keke's is driven by their appreciation for the brand's business
model and its success in the brunch segment.
Why It's Important?
Rigsby's decision to sell a majority stake in his Bojangles franchise and invest in new ventures highlights a strategic shift in the franchise industry. By diversifying his portfolio, Rigsby is positioning himself to capitalize on emerging trends in the food and beverage sector, particularly the growing popularity of brunch-focused establishments like Keke's Breakfast Cafe. This move could influence other franchisees to explore similar diversification strategies, potentially reshaping the competitive landscape. Additionally, Rigsby's continued involvement in the industry through consulting and board roles ensures that his expertise will continue to impact the sector.
What's Next?
Rigsby's expansion into Keke's Breakfast Cafe is set to begin with the opening of new locations in South Carolina, with one site already under contract. The first location is expected to open within the next six months. As Rigsby navigates this new venture, he will likely continue to evaluate opportunities for further expansion, both within Keke's and potentially through franchising his own brand, Rigsby's Wings & Grill. The acquisition of Keke's by an investor group, including Denny's franchisee Yadav Enterprises, may also bring changes to the brand's operations, although Rigsby has been assured that no major changes are anticipated.
