Tex-Mex fast food franchise, Taco Bell is on a mission to become as big as KFC, however the expansion may come at the expense of an industry stablemate.
Collins Foods Limited, the Queensland franchisee for the US-based restaurant has announced plans to expand following the success of their initial stand-alone store in Annerley.
The Taco Bell expansion follows a string of closures and growing concerns over fellow Collins Foods’ franchise, Sizzler, meaning Queenslanders could see more of the restaurants shut down, only to be rebranded as Taco Bells.
The Annerley store opened in 2017 taking the place of a former Collins Foods’ owned Sizzler restaurant and was the franchise’s third attempt at cracking the Australian market.
Now the brand’s operators say the outlet, located next a Collins Foods’ KFC has been such a success, plans for a nationwide roll-out are being prioritised.
Graham Maxwell, Chief Executive of Collins Foods said the outlet’s growth was encouraging.
“We are pleased with the acceptance of the Taco Bell brand by Australian consumers,” Maxwell said.
“We have entered an exciting new phase with the successful launch of our first Taco Bell, with further restaurants to follow over the next 12 months.”
In June, Moreton Bay Regional Council signed off on plans for a Taco Bell outlet to be built 120 Flinders Lane, North Lakes.
The outlet’s plans include a drive-through, parking for 18 vehicles, a 35sqm dining area and 250sqm of internal dining.
Further South, a former Sizzler restaurant in Cleveland is also set to become a Taco Bell after Collins lodged a building application with Redlands City Council.
While the application for the Grant St site does not name the new outlet or what food it would serve, it wouldn’t be the first time a former Sizzler site located next to a KFC franchise became a Taco Bell.
The expansion plans cap off an impressive year for the franchisee group who last month, announced they had lifted their full year profit by 16%, following the opening of several new KFC stores.
The group’s net profit rose to $32.5 million for the year to April 29, from $28 million a year earlier, thanks to a 21.7% jump in revenue to $770.9 million.