Chopstix to open 30 sites this year as it considers drive-thru locations
The UK’s largest Asian quick service restaurant group, which celebrated its 20th anniversary last year, is looking to add to the 26 restaurants it opened in 2022.
The group began 2023 with the acquisition of Chozen Noodle in a deal that included 27 motorway service area sites. This month it has opened sites in Bracknell and Brent Cross having recently secured agreements with QSR operators including Sparta Foods, and trials with Haven and Butlin’s.
The expansion has been fuelled by record revenues at the company, with sales forecast to exceed £65m by the end of FY23 (23rd April 2023), an increase of over 40% vs FY22. Revenue is projected to rise further in FY24, with sales expected to exceed £90m.
“We expect 2023 to be a momentous year for Chopstix Group. We’ve worked hard to build our team and fine-tune our operational processes to ensure this a highly scalable business that we can continue to grow rapidly,” says Jon Lake, managing director at Chopstix Group.
“We are already the largest Asian-inspired QSR brand in the UK, and with the effectiveness of the business and the breadth of appeal our dishes boast, we’re confident that the business can continue to expand at pace and become a true household name in the next few years."
20 years of growth
Chopstix was established in Camden Market in 2002 by entrepreneurs Sam Elia and Menashe Sadik and now comprises locations across the UK and Ireland through a mix of company owned and operated locations, and franchise sites run through partnerships with the likes of Sparta Foods, Welcome Break and Applegreen.
The Chopstix Group comprises the brands Chopstix Noodle Bar, Yangtze, and Chozen.
“After several years where trading has been impacted by COVID-19 lockdowns and restrictions, it is highly encouraging to see such marked rises in system sales. In recent years, we have focused heavily on perfecting our back of house processes, which has really supported rapid and effective expansion in footprint, particularly through the franchise model,” says Elia.
“There is significant momentum behind the company, with the acquisition of Chozen and many new sites in the pipeline we are very confident about the year ahead and beyond.”
The company operates around 130 venues, with some 90+ operating as the Chopstix brand, 27 as Chozen, and 10 as Yangtze and says there is scope to reach 500 UK sites and to grow internationally through franchising. As well as focusing on forecourts and food courts, town centres and shopping centres, holiday parks and retail parks, the group is also considering airport locations and even drive-thrus.
In addition to new store growth, like-for-like sales at the group are projected to rise by more than 22% in 2023 compared with the previous year.
