Axios
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!
