London-based casual dining steakhouse group Steakout has announced Middle East expansion plans.
“We have signed a master franchise agreement with an investor and together we are planning to open six Steakout restaurants in Middle East by the end of 2017.
"We are expecting this deal to increase our turnover by 20% and our profit by 50%," said concept founder Kaysor Ali.
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Steakout branded restaurants including, franchise units, generated more than US$6.5 turnover in the last year.
Ali stated: “We really believe that steak is the next big thing in casual dining and our sales growth reflects this. Our plan is to do for steak what others in the casual dining sector have done for sushi and gourmet burgers.
“We have been delighted with record year-end figures, which have shown a 400% sales growth since 2014, returning net profits of 11% in 2015," Ali commented.
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