TGI Fridays Targets More Than 600 New Store Openings By 2030

For beleaguered casual dining chain TGI Fridays, thank goodness it's 2026.

The restaurant operator unveiled a plan this week for a fresh start in the new year, with a goal of more than 1,000 restaurants and $2B in annual revenue by 2030. TGI Fridays released its "1-2-3 Strategic Vision," which, beyond expansion aspirations, also includes strategic pillars centered on activating its brands, strengthening its franchise system, investing in talent and exploring more flexible store formats.

TGI Fridays currently operates nearly 400 stores in more than 40 countries, including 79 locations in the United States. In August 2023, the company operated over 650 restaurants in 52 countries.   

"Our focus as we accelerate our growth is to resonate with the next generation of consumers while preserving the classic Americana feel and signature experience that has made the brand beloved in more than 40 countries," TGI Fridays CEO Ray Blanchette said in a press release. 

The surprising announcement comes after years of decline for the chain, which had 270 U.S. locations at the beginning of 2024 before hundreds of closures and filed for Chapter 11 bankruptcy at the end of that year. TGI Fridays' struggles mirrored the downward trajectories of similar food concepts like Red Lobster, Applebee's and Cracker Barrel, which also faced widespread store shutterings.

TGI Fridays' ambitious growth plan signals an about-face from its downtrodden fortunes over the past couple of years.

The company recently appointed Phil Broad as president of the global TGI Fridays brand following his April 2025 appointment as president of international franchising. Broad, who served as managing director of TGI Fridays U.K. from 1997 to 2001, will spearhead the strategy and oversee the company's domestic and international growth. 

The restaurant chain will use a diverse mix of store formats to fuel its growth, including high-volume airport locations, right-sized hotel concepts and traditional full-service restaurants. TGI Fridays also plans to continue activations similar to "TGI Elf Days," a holiday pop-up concept that it said delivered increased traffic and higher check averages. 

The company stated it signed "several development agreements" to open over 150 locations worldwide. 

All of TGI Fridays' corporate stores were either sold or closed due to bankruptcy, so the business is 100% franchise, according to FSR magazine.