First Watch Restaurant

8725 Pendery Pl Suite 201, Bradenton, FL 34201

First Watch is an award-winning Daytime Dining concept serving made-to-order breakfast, brunch and lunch using fresh ingredients. A recipient of hundreds of local “Best Breakfast” and “Best Brunch” accolades, First Watch’s award-winning chef-driven menu includes elevated executions of classic favorites for breakfast, lunch and brunch along with First Watch-specific specialties such as our protein-packed Quinoa Power Bowl®, Farmstand Breakfast Tacos, Avocado Toast, Morning Meditation (juiced in-house daily), our Vodka Kale Tonic, Chickichangas and our famous Million Dollar Bacon. In 2022, First Watch was the recipient of the “ADP Culture at Work Award”; and in 2021, was recognized as FSR Magazine’s Best Menu and as the fastest-growing full-service restaurant company based on unit growth. There are more than 425 First Watch restaurants in 28 states, and the restaurant concept is publicly traded on the Nasdaq and majority owned by Advent International, one of the world’s largest private-equity firms. Mission: Making Days Brighter- For the neighborhoods we serve, First Watch helps create everyday brunch-worthy moments by fostering a sense of belonging and serving up delicious discovery. We are dedicated to making each guest’s day a bit brighter, in our restaurants and on their Instagram feed. In every interaction, we build community and connection through our reliability and trustworthiness

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3.3

Overall Excellence Rating

Industry

Restaurant Companies

Category

Restaurants & Cafes

ESG/Ethical Impact

We again outperformed the industry, with same-restaurant sales growth of 14.5% built upon 7.7% same-restaurant traffic growth during a year when the industry as a whole experienced same- restaurant traffic declines of 3% as reported by Black Box Intelligence. We introduced 43 new systemwide First Watch restaurants to neighborhoods in 16 states. Of those, our 29 new company-owned restaurants are achieving an annualized average unit volume (AUV) that is 7% above the AUV of our comparable restaurant base and are exceeding their projected first year sales targets. We believe growing traffic share is a true indicator of brand strength, and First Watch shows up well here. We continue to see significant demand for our unique offering. In fact, at times, we’ve found ourselves with more demand than we can serve. It’s an enviable place to be, and we don’t take it for granted. The biggest operational opportunity for First Watch now and for the foreseeable future is to serve more demand, and this is exactly what our organization is rallying around in 2023. We are unlocking tremendous upside potential in our restaurants through five primary initiatives that are transformative and helping to serve that demand. We are opening more restaurants, investing in high-quality sites and a growing number of larger, stand-alone units, often taking second-generation locations vacated by casual dining concepts that failed to evolve. These larger-footprint locations are one factor in our ability to generate higher volumes while maintaining – or improving – our returns on invested capital. We’re installing dedicated make lines to accommodate our increased off-premise demand in many kitchens, investing in double dishwashers and wider griddles that allow for more pancakes or sandwiches to cook at the same time, and we’re in the early phases of leveraging energy-efficient smart ovens that ensure a faster and more consistent cook time, every time.

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Awards Received

2023

Revenues

$730,200,000.00

Website Traffic

Employee Rating

3.9

Customer Rating

4

Company Size

10000+

ESG Risk Rating

3

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