Company: FWRG
Filing Date: 2025-04-08
Form Type: ARS
Source: 0001789940-25-000033
Chunk: 2

Company: First Watch Restaurant Group, Inc.
Filing Date: 2025-04-08
Form: ARS
Chunk 2
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/28/2025 12:15:30 PM

More restaurants in even more states Our longstanding track record of high-performing, prolific unit growth means we regularly receive “first looks” into new, planned centers, as well as prominent existing sites, many of which are the result of a vacating restaurant brand. These desirable locations typically have a larger footprint, allowing us to meet even more demand. In 2025, we will bring our differentiated breakfast, brunch and lunch offering to New England and Nevada, with highly anticipated openings in Boston and Las Vegas as we continue our pursuit towards 2,200 domestic units. Strategic buy-back of franchise locations We continue to acquire First Watch restaurants operated by select franchisees as part of our long-term growth strategy. We believe the company benefits significantly from both the company’s operation of the restaurants acquired — as well as the development opportunities in the reacquired territories — as we work to realize new value. Heightened hospitality and enhanced value At First Watch, we are guided by a mission to “Make Days Brighter.” We do this in ways big and small. It’s why we open the door for every customer and greet each table with a hot pot of our Project Sunrise coffee. Our approach to hospitality is a key factor in how we’ve remained relevant and driven a high-value perception with our customers for many years. Continued evolution of marketing capabilities For more than four decades, First Watch has grown largely via word-of-mouth — and while we are proud that our customers love and recommend us, as our national footprint grows, we recognize the opportunity to raise brand awareness with smart, targeted marketing efforts. Our broad-based, iterative approach will utilize various media strategies to target current customer frequency, as well as attract new ones to our restaurants. This year, we will also launch enhanced customer-facing technologies as part of our ongoing journey to improve both the customer and employee experience. Fresh, innovative food and drinks Our highly anticipated seasonal menus continue to delight our customers, and this year, we will test an expanded line of beverages and other menu innovations. We remain committed to our culinary philosophy to “Follow the Sun” and will continue to prioritize a menu that celebrates exceptional ingredients and flavors. Our 2024 motto was to “control the controllables,” and I am exceptionally proud of how our team banded together to do exactly that as we once again drove increased labor efficiency and improved employee turnover — all while raising our already impressive customer experience scores. Suffice to say: I have never been more confident than I am today in