Axios
Exclusive: Tom’s Watch Bar to Raise Capital for New Locations
? By Richard Collings | January 21, 2025
? Read the full article on Axios: Tom’s Watch Bar to Raise Capital for New Locations
Tom’s Watch Bar, a growing sports bar chain, will raise capital this summer to open new locations, the company tells Axios exclusively.
Why It Matters
? 2025 is expected to be an active year for restaurant M&A, with chains such as Freddy’s hitting the auction block.
Zoom In
? Tom’s Watch Bar has not yet determined the exact amount it will raise but has confirmed plans to open seven or eight new locations this year.
? The company envisions growing to more than 600 locations globally.
Catch Up Quick
? Tom’s Watch Bar previously raised $37.5 million in mezzanine debt from Sagard Credit Partners in 2022.
? The brand continues its rapid expansion across the U.S.
By the Numbers
? Tom’s Watch Bar at a Glance:
✔ 13 locations across the U.S. (Newest locations: Indianapolis & Orlando in 2024)
✔ $7 million Average Unit Volume (AUV)
✔ 26%+ unit margin
✔ ROI greater than 40%
✔ Alcohol makes up about 50% of total sales
Between the Lines
? The increasing popularity of sports, fantasy leagues, and sports betting is fueling business growth.
? The chain is particularly successful in building fan communities, allowing alumni to connect and watch games together, no matter where they live.
Fun Fact
? Tom’s Watch Bar hosted 2.5 million fans in 2024!
