The franchisor of the 100-unit Wayback Burgers fast-casual chain is exploring the possibility of selling itself to the public sometime next year, the Connecticut-based operation announced.
Wayback Burger did not disclose how large of an initial public offering it is considering, and left open the possibility of pursuing some other means of generating capital.
The disclosure follows several sky-high evaluations of fast-casual chains, and retro-burger concepts like Wayback in particular.
Recently, 11-unit Cava Grill revealed that it recently raised $45 million in capital after generating $21.7 million in the prior five years. Its sales have been reported at about $30 million.
Shake Shack, the retro-burger spinoff from Danny Meyer’s Union Square Hospitality fine-dining group, said its market cap soar to about $2 billion during a January IPO. At the time, the chain had 63 stores and annual profits for the prior year of about $5.4 million.
Wayback Burgers, known in its home state as Jack’s Wayback Burgers, features made-to-order and shakes mixed from hand-scooped ice cream.
The concept has been on a growth tear. Management said that an additional 25 units are slated to open by Jan. 1.