A regional franchise group with Potbelly is moving full steam ahead on its development agreement in Arkansas. Toasted Northwest Arkansas, which signed a six-unit deal with the chain in 2024, has already opened two stores and has four more in the pipeline planned for the area.
The ownership group, comprised of Ryan Hamra, Cody McPherson, and Tiffany Montgomery, holds the development rights for the region.
Hamra has been with the brand since 2014, and McPherson, who started his franchising journey with Crumbl Cookies, partnered up with him a few years ago in the Little Rock area. They later added Montgomery, who has roots in northwest Arkansas and a background with Crumbl as well, to their team as an operating partner as they planned to cover more of the state.
“Cody and I formed a friendship and decided that we wanted to do business together. He put a shout-out on LinkedIn, and Tiffany responded. Her expertise and multi-unit experience are what drew us to her,” Hamra explained. “I handle more of the real estate and location finding, Cody handles ongoing support with Tiffany, and Tiffany is our boots on the ground, running the stores.”
They opened the first location of the multi-unit deal on Walmart’s new corporate campus in Bentonville in November, followed by a second restaurant in Springdale just one month later. This put them ahead of schedule for their projections, and they were celebrated recently when awarded the company’s 2026 Developer of the Year title.
Now, the partners are working to secure the next four locations in Rogers, Fayetteville, and Fort Smith. These markets are the perfect spot to bring more recognition to the brand, they say. McPherson estimates the remaining stores could be completed within the next three to four years.
Typically, they look for spaces that are around 1,800 square feet. Maintaining a relatively compact footprint helps balance construction costs, occupancy expenses, and operating efficiency. They run the restaurants with about 15 to 20 team members.
So far, at the two stores they opened late last year, operations have been going very well. The area has experienced rapid population growth, and many relocating already know and love the brand. Hamra says he has seen a huge improvement in brand recognition and refined operations compared to when he first started out with Potbelly.
“What I’ve noticed is that Northwest Arkansas is one of the fastest-growing areas in the country. And when we announce that we’re coming, people realize they’ve had this before and are excited about it,” he said.
In addition, the partners have identified significant growth opportunities beyond in-store sales. There is a huge potential for catering services in these areas, between the University of Arkansas, healthcare organizations, and large local corporations.
Looking beyond the current development agreement, the team is not limiting itself. If the reception is well-received, further expansion down the road could be in their future.
“We’re not looking at stopping at six if there’s growth potential,” Hamra said.
