Andy Wiederhorn, Founder and CEO of FAT Brands, joins Cheddar to celebrate the company going public at the NASDAQ under the ticker "FAT." The stock opened at $12.80, up from its IPO price of $12. The company raised $24 million.
Wiederhorn explains how one of its biggest brands, Fatburger differs from other burger joints such as Five Guys or In-N-Out. He says other chains have copied Fatburger, which opened 70 years ago and hasn't changed its recipe since.
Plus, how is being a franchisor good for your bottom line? Wiederhorn says his company brings home 50% in revenue margins compared to other 3% earned by other restaurants because FAT Brands doesn't own or operate the actual establishments. He talks about franchisees wanting a piece of the pie, stating the company has 300 locations opening in the near future.