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The 40/40 List for 2022: America's Hottest Startup Fast C...
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Feb 1, 2022
This group of fast casuals has weathered the storm and is ready to thrive in the most dynamic operating environment on re...
By confirming my reservation/investment, I acknowledge that my contact information (such as full name and email address) and reservation and investment amount details will be shared with Hawaiian Bros Inc., who may send communication via email, social media, and/or other channels.
Problem
Limited service restaurants are dominated by burger, chicken, and pizza chains
Whether dining out or ordering in, consumers are always seeking new options to expand their dining experience. People want fast, fresh, and affordable options that include more than burgers, fried chicken or pizza.
Hawaiian Bros doesn't compete head-to-head with existing national chains. The lack of large-scale direct competition offers an opportunity to provide consumers with a unique style of food, and a flavor profile that can’t be found on just any street corner:
The island-inspired plate lunch.
Solution
Island-inspired cuisine, made fast, fresh, and affordable
Hawaiian Bros Inc. is a new restaurant brand born in the geographic heart of the country, with a plate lunch concept from Hawaii that we believe has coast-to-coast appeal.
We opened our first restaurant in 2018, and have driven rapid growth by sticking to our fundamental principles:
- Unique Hawaiian food offerings with broad appeal;
- Always fresh food—never frozen, fried, or microwaved;
- Modern look and feel;
- Generous portions at reasonable prices.
Last but not least, our fare is served up by a team that projects the warm and welcoming charm of ‘Ohana—the Hawaiian word for family. Our positive reviews and impressive growth are testimony to how this holistic experience is received by today’s consumers.
Product
Efficiency meets quality and tradition
We began by offering a Hawaiian comfort food staple: the ‘Hawaiian plate lunch,’ which includes high quality chicken or pork with a unique blend of sweet and savory flavors, plated with fluffy white rice and macaroni salad. Our restaurants have no freezers, fryers, or microwaves.
With only six key menu items, two sides, and two dessert options, our laser-focused menu keeps food costs low and profitability high. Fewer food components results in lower supply costs compared to other restaurants with a more extensive menu.
Our customers can order in-store, through our drive-thrus, and online, with multiple major delivery partners.
Traction
Rave reviews and steady revenue growth
In 2020, we grew to 5 brick-and-mortar locations and 4 "ghost kitchens"—virtual restaurants created for delivery or carry-out only, without any brick-and-mortar presence. We finished the year with over $20M in revenue.
In 2021, we opened an additional 16 brick and mortar locations and 1 ghost kitchen. We finished the year with 21 brick and mortar locations and 5 ghost kitchens, and our revenues for 2021 exceeded $55M. We expect to open an additional 20 to 25 locations in 2022 .
Our average unit volume of over $4M ranks among the highest in the limited service category, which is comprised of quick service and fast casual restaurants.
We boast an average of 4.5 stars in 14,000+ reviews across Google, Facebook, Yelp, DoorDash, Uber Eats, and GrubHub.
Hawaiian Bros has been featured in QSR Magazine, Fast Casual, Dallas News, and the Kansas City Business Journal, as well as on KCTV.
Resilience during the COVID-19 Pandemic
Despite the sweeping effects the COVID-19 pandemic has had on the restaurant industry, Hawaiian Bros has been able to thrive. While in-person dining temporarily shut down, we have significantly pivoted our drive-thru, pick-up, and delivery strategies to take advantage of our service times—which are consistently some of the fastest in the restaurant industry.
Revenue and Same-Store Sales Growth
- Restaurant revenue increased by $34.6M, or 168.2%, for the fiscal year ended December 26, 2021 as compared to the fiscal year ended December 27, 2020. Revenue from new restaurants opened since the beginning of fiscal year 2020 accounted for $31.0M of the increase.
- Same-store sales increased by 20.3% for the fiscal year ended December 26, 2021 as compared to the fiscal year ended December 27, 2020.
Customers
Capturing the Aloha spirit
It is important to our culture and vision to treat customers like Ohana—family.
We welcome customers from all walks of life. Part of sharing a friendly, casual meal with Ohana means being intentional about creating an environment of ease, kindness, and appreciation for customers and employees.
Customer response
In a study based on more than 1,000 customer responses, 98% of customers were likely or very likely to recommend our restaurants to others:
Business model
Operational & capital efficiency
Our Service
At Hawaiian Bros, the goal is five-star service every day, every visit. To accomplish this goal, we have established clear benchmarks and optimized operations on multiple fronts:
- A simplified menu results in faster orders and lower supply chain costs;
- Efficient cooking and prep processes increases speed of delivery;
- Redesigned processes for drive-thru, online ordering and delivery decrease wait times and enhance the customer experience;
- A new, modular kitchen allows for streamlined execution.
Market
Defining our own space in a $250B industry
According to Technomic’s 2021 Top 500 Chain Restaurant Report, sales for the limited service chains included in the Top 500 category totaled $248.5 billion in 2020. The QSR and Fast Casual categories include national chains focused on traditional offerings like burgers, chicken, sandwiches, pizza, and what is now mainstream global fare: Mexican, Asian, and Italian.
The Hawaiian plate lunch is not in any of the existing categories. We believe we can take share by creating an exciting, unique brand that doesn’t compete head-to-head with existing national chains. The lack of large-scale direct competition with our Hawaiian food offers an opportunity to enter the market before the competition reacts.
Competition
Competitive landscape
Our profile
We are positioned between the QSR and Fast Casual categories, with some aspects of a QSR including speed of service, drive-thru and a streamlined menu; and other compelling qualities more characteristic of Fast Casual including fresh, higher-quality food, limited but friendly service and a higher average check.
Our differentiators
Our average unit volumes of over $4M rank among the highest in the limited service restaurant category.
We believe we compete primarily on the basis of the following:
- Food taste and quality
- Unique product offerings
- Compelling guest experience
- Speed of service
Vision and strategy
Growth strategy
Market turbulence creates opportunity
We are in a position to take advantage of market turbulence by picking up new sites and hiring experienced employees.
We are currently engaged in multiple lease negotiations, and we are on track to meet our development goal to open 20 to 25 new locations in 2022.
Locations Open as of December 26, 2021
We are also working on market planning for additional target markets, including the Houston and Oklahoma City areas.
By the end of 2022, we expect to have between 46 and 51 locations open in six states.
Founders
Brothers in business
Inspired by the spirit and flavors of Hawaii
Growing up in Eugene, Oregon, brothers Cameron and Tyler McNie fell in love with the island way of life and wanted to share their passion for the food and traditions of Hawaii with the mainland. With 15 years of experience working in their family’s Hawaiian grill business on the West Coast (where Hawaiian food is very popular), the McNies had always wanted to put their own spin on the plate lunch.
In 2017, Cameron and Tyler reconnected with childhood friends, Paul and Joel Worcester, who had relocated to Kansas City to start a real estate business. They had a bold proposal for Cameron and Tyler: “Move to Kansas City, and we’ll give you the funding to start a Hawaiian plate lunch restaurant business here.”
After a few trips to Kansas City to scout business locations, the four principals selected a location in Belton, Missouri. The Worcesters bought the building, and the McNies were in business.
Inspired by two sets of brothers who were passionate about the Hawaiian plate lunch, the Hawaiian Bros brand was born. With the support and backing of their partners, the McNies worked to bring their dream to life. The first store opened in Belton, Missouri in February 2018, and we have been growing ever since.
Disclaimer
By confirming my reservation/investment, I acknowledge that my contact information (such as full name and email address) and reservation and investment amount details will be shared with Hawaiian Bros Inc., who may send communication via email, social media, and/or other channels.
