Shopping Center Business

MAY 2016

Shopping Center Business is the leading monthly business magazine for the retail real estate industry.

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Page 150 of 358

CINNABON 146 • SHOPPING CENTER BUSINESS • May 2016 have to be where the people are. It's about capture rate of existing traffic in malls," Guith says. "If we're off track or down the hallway, it's not going to work as well. We also don't work as well when we're buried in the food court. We do work on the edge of the food court — I've seen that work incredibly well." Today Cinnabon is in 234 malls, and, as Guith notes, there remain about 800 viable malls that Cinnabon has on its radar. "So as we look out on the landscape, we know there's going to be a reconciliation — anywhere from 15 percent to as high as 30 percent, I've heard. No one knows exactly," he says. "Our benefit is we're only in a third of those to begin with, so now as we start to grow much more rapidly, we know where the centers are that are going to be around after the chips fall. Malls aren't going away." Cinnabon is active in non-traditional mall locations as well. Though not located in as many airports as it used to be, the company still has 15 of its original 150 airport locations. Locations inside travel plazas and existing restaurants are two real estate avenues seeing growth for the brand. "Our partnership with Pilot/Flying J has been very successful. We currently have more than 150 units with them," Guith says. Recently, Cinnabon partnered with Schlotzsky's (a fellow FOCUS brand) to open express bakeries inside more than 200 Schlotzsky's locations. "We're going to continue to push," Guith adds. "We do well in airports, but we have maybe a tenth of what we had at our peak. Even though people associate us with airports." The focus of Cinnabon's new prototype is on the ingredients. The company finds that consumers today want to know what is in their food, and how it is made. Want one yet? Keep reading... Cinnabon President Joe Guith at the retailer's North Point Mall location near Atlanta.

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