Dunkin’, Chipotle, Panera, Wendy’s, McDonald’s. Those are just a few of the big-name brands Lee Fry has worked with over the past 30 years as a real estate developer in Chicago. That gave Fry and his wife, Karin, plenty of time to vet and consider many companies and models, since they had always thought about owning their own franchise.
The timing was finally right in December 2020, when they bought an A&W restaurant in North Aurora, Illinois, from a retiring owner.
“What we realized is that the relationship between the franchisee and their developer, which was our company, was very intimate,” said Fry, who was there every step of the way from site selection to meeting with the city. Nearly every brand with a drive-thru model requires a special use permit, which means a public hearing with the city where everything is discussed—parking, hours of operation, zoning, traffic. Fry was able to apply those learnings to A&W, where he says the drive-thru is a “lifeblood” for the company’s sales.
“Having experience and dealing with all the corporate players in the world gave us a real solid heads up when we started talking with A&W, because we saw things there that we felt really good about and people we felt really good about,” Fry said. “Whenever you do something like this, you want to be associated with success—like a brand that’s 100 years old and people you’ve had a chance to talk to and respect.”
The Frys worked with the former franchisee, Mike Covelli, who spent two months introducing them to suppliers and making sure the transition went smoothly. Covelli is also helping them convert a shuttered Burger King in Addison, Illinois—which they bought in August—to an A&W as part of the Frys’ plans to own five restaurants. This coincides with the franchisor’s expansion plan that focuses on the Midwest, where many of the brand’s early locations opened.
“With Mike, what’s fantastic is the fact that he is typical of the people that we have met at A&W. They’ve been extremely helpful and have been totally open with regards to any questions,” said Fry, who was drawn to the 100 percent franchised brand especially for that reason. Founded in 1919, A&W has more than 900 locations in the U.S. and Asia.
Karin and Lee Fry acquired an A&W in Illinois from a retiring owner in December 2020 and plan to open a total of five restaurants.
“The fact that we’re dealing with a company that’s really owned by people who operate their own units is a strong, strong point on our side, and that was probably one of the most important elements in us making the decision to go with A&W,” he said.
The Addison restaurant is under construction and was set to open in February, but supply chain issues and equipment delays pushed them back 30 to 45 days. Nonetheless, Fry is excited about that particular location, he said, because it’s in a busy shopping center with a Walmart Supercenter and a Sam’s Club. Plus, the entrance to the restaurant is at a stop sign to those stores, which means people will be forced to stop and catch a waft of their salty fries before driving past. “Those are the types of locations we really like,” Fry added.
Nearly all of Covelli’s employees stayed at the North Aurora restaurant after the deal, so Fry is training some of them to move into upper management positions at the new Addison store after it opens.
“For lack of a more intelligent way to say it, I think it’s in his blood,” Fry said, referring to Covelli. “He had good success with the program, and not only helped us but enjoyed doing it. Any time you spend 20 years running a deal, there’s a certain amount of love that doesn’t go away when you sell it.”
The Frys are in negotiations for their third A&W, which they plan to build from the ground up and hope to be ready by next fall. In the meantime, Fry said they’re looking for other existing buildings in the Chicago area they could convert.
“Being in this business for a number of years, we have the advantage of seeing lots of things before they get out to the public, so where we see opportunities that make sense for us and A&W, we’re going to go for it,” Fry said.
HALIFAX – A village of tiny homes is set to open next month in a Halifax suburb, the latest project by the provincial government to address homelessness.
Located in Lower Sackville, N.S., the tiny home community will house up to 34 people when the first 26 units open Nov. 4.
Another 35 people are scheduled to move in when construction on another 29 units should be complete in December, under a partnership between the province, the Halifax Regional Municipality, United Way Halifax, The Shaw Group and Dexter Construction.
The province invested $9.4 million to build the village and will contribute $935,000 annually for operating costs.
Residents have been chosen from a list of people experiencing homelessness maintained by the Affordable Housing Association of Nova Scotia.
They will pay rent that is tied to their income for a unit that is fully furnished with a private bathroom, shower and a kitchen equipped with a cooktop, small fridge and microwave.
The Atlantic Community Shelters Society will also provide support to residents, ranging from counselling and mental health supports to employment and educational services.
This report by The Canadian Press was first published Oct. 24, 2024.
Housing affordability is a key issue in the provincial election campaign in British Columbia, particularly in major centres.
Here are some statistics about housing in B.C. from the Canada Mortgage and Housing Corporation’s 2024 Rental Market Report, issued in January, and the B.C. Real Estate Association’s August 2024 report.
Average residential home price in B.C.: $938,500
Average price in greater Vancouver (2024 year to date): $1,304,438
Average price in greater Victoria (2024 year to date): $979,103
Average price in the Okanagan (2024 year to date): $748,015
Average two-bedroom purpose-built rental in Vancouver: $2,181
Average two-bedroom purpose-built rental in Victoria: $1,839
Average two-bedroom purpose-built rental in Canada: $1,359
Rental vacancy rate in Vancouver: 0.9 per cent
How much more do new renters in Vancouver pay compared with renters who have occupied their home for at least a year: 27 per cent
This report by The Canadian Press was first published Oct. 17, 2024.
VANCOUVER – Voters along the south coast of British Columbia who have not cast their ballots yet will have to contend with heavy rain and high winds from an incoming atmospheric river weather system on election day.
Environment Canada says the weather system will bring prolonged heavy rain to Metro Vancouver, the Sunshine Coast, Fraser Valley, Howe Sound, Whistler and Vancouver Island starting Friday.
The agency says strong winds with gusts up to 80 kilometres an hour will also develop on Saturday — the day thousands are expected to go to the polls across B.C. — in parts of Vancouver Island and Metro Vancouver.
Wednesday was the last day for advance voting, which started on Oct. 10.
More than 180,000 voters cast their votes Wednesday — the most ever on an advance voting day in B.C., beating the record set just days earlier on Oct. 10 of more than 170,000 votes.
Environment Canada says voters in the area of the atmospheric river can expect around 70 millimetres of precipitation generally and up to 100 millimetres along the coastal mountains, while parts of Vancouver Island could see as much as 200 millimetres of rainfall for the weekend.
An atmospheric river system in November 2021 created severe flooding and landslides that at one point severed most rail links between Vancouver’s port and the rest of Canada while inundating communities in the Fraser Valley and B.C. Interior.
This report by The Canadian Press was first published Oct. 17, 2024.
