TGI Fridays is positioning itself for a comeback after a recent bankruptcy filing and hundreds of restaurant closures. The casual dining chain aims to operate more than 1,000 locations worldwide while significantly boosting annual revenue by 2030.
TGI Fridays Sets Ambitious Global Growth Targets
In a recent announcement, TGI Fridays said it plans to operate more than 1,000 locations by 2030. The company is also targeting roughly $2 billion in annual revenue by that time.
“TGI Fridays pioneered the casual bar and grill category and continues to introduce Americana culture to millions around the world,” said Ray Blanchette, CEO of TGI Fridays.
Sharing a broader picture of the growth plan by 2030, Blanchette said that TGI is intending to ‘resonate with the next generation of consumers.’ The brand plans to preserve its American bar-and-grill identity while continuing to expand across more than 40 countries.
“Through these strategic pillars, we honor the heritage of the Fridays brand while appealing to today’s guests who crave bold flavors, high-energy experiences, and reasons to celebrate every day,” Blanchette added.
TGI Fridays’ 2030 strategy will be led by hospitality veteran Phil Broad, the brand’s president.
Broad previously worked for TGI Fridays UK from 1997 to 2001 as the managing director. After returning in April 2025 as the President of International Franchising, he helped the chain grow across international markets.
A “1-2-3 Strategic Vision”
Through a “1-2-3 Strategic Vision,” TGI Fridays is ready for its next chapter to activate the brand for the next gen, ramp up unit and channel expansion, ensure franchise growth, and drive results through people.
Re-energizing the TGI Brand
TGI Fridays is set to use innovative strategies while working towards its goals by 2030. The success of TGI Elf Days, the chain’s latest holiday pop-up concept, has pushed the chain towards this approach. The pop-up drove higher foot traffic, increased check averages, and improved online ratings at participating locations worldwide.
Expanding With Flexibility
TGI Fridays’ popularity through the years across the world has been due to the taste of Americana. Flexible formats and multi-channel growth models are other means that have guided the success of the casual dining chain.
Some examples are high-volume airport locations, hotel-based concepts, and traditional full-service restaurants. TGI is expected to continue using the same strategies to reach more customers and support franchise growth in crucial markets.
Focusing on Franchisees
TGI Fridays aims to strengthen franchisee profitability and consistency as it works toward long-term revenue growth. This would be possible through enhanced support, strategic partnership, and operational excellence.
Investing in People
TGI Fridays will emphasize investing in leadership development, detailed training projects, and performance initiatives to empower team members and franchisees. Through this, the casual dining chain intends to strengthen its culture of recognition and assist teams to deliver engaging guest experiences.
TGI Fridays’ latest growth plan is advancing based on recent momentum, including development agreements for more than 150 locations worldwide and the success of TGI Elf Days. Its “1-2-3 Strategic Vision” will be anchored by improved guest experiences, menu and beverage innovation, atmosphere upgrades, and more.
Recovery After a Financial Strain
TGI Fridays’ plans for 2030 emerge after a looming financial period, which was marked by a Chapter 11 filing and several store closures.
TGI Fridays Inc. announced in November 2024 that it was voluntarily filing for a Chapter 11 bankruptcy in the U.S. Bankruptcy Code for the Northern District of Texas. At the time, the company said the filing would allow it to restructure operations and position the brand for long-term growth.
Months after this, the casual dining chain stated that it would close roughly 130 outlets nationwide.
As the world’s first casual bar and grill concept, TGI Fridays has been serving patrons since 1965. As of now, it operates around 400 establishments spanning 40 countries. American classic bites and legendary drinks alongside a franchise-first approach have made the brand a global hit through the years.
Despite recent setbacks, TGI Fridays is betting on its 2030 strategy to fuel its next phase of global growth.
