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First Watch

Operations

First Watch views its limitations as its greatest asset

The newly public chain continues to innovate within its “daytime dining” framework, adding alcohol and developing a prototype designed to drive more top-line sales.

Financing

First Watch raises $170M in IPO

The breakfast-and-lunch chain priced shares at $18 with trading set to begin Friday.

The breakfast-and-lunch chain plans to sell shares at $17 to $20 and could get a valuation of more than $1 billion.

Dutch Bros’ drive-thru coffee and First Watch’s “daytime dining” have upended their sectors and won over fans as investors looked in other directions, says RB’s The Bottom Line.

The 423-unit chain has seen a quick recovery from the pandemic and would be the industry’s third offering of 2021.

Three restaurant chains have confidentially filed documents for an initial public offering and others are considering it, says RB’s The Bottom Line.

The daytime dining chain is tweaking its operations with the additions of bars and takeout areas while forgoing the dash into farther-afield ventures such as ghost concepts and virtual brands.

The sector’s biggest players indulged in considerable reinvention attempts as they felt the loss of breakfast and particular challenges at off-premise.

Newly released data suggests that even a modest cash incentive can be effective.

The breakfast, brunch and lunch concept plans to have the new listing in half its stores by year’s end.

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