If you have seen the Google or YouTube Ads circulating on the internet, you must be wondering: Is Five Guys closing in 2024?
The news about Five Guys closing stores is undoubtedly concerning, especially for those who love going to their restaurant.
So, what is the truth behind this? Is your favorite restaurant chain closing down? Make sure to read this guide till the end to find out.
About Five Guys
Five Guys is a popular American chain that was founded by the Murrell family in 1986 in Virginia. The restaurant was named Five Guys because of their five sons. Five Guys is known for its delicious hamburgers and simple menu.
They are also known for their fresh ingredients. For example, you will never find frozen items at Five Guys, so all the items Five Guys serve are freshly prepared.
Because of their flavor and quality, Five Guys started expanding quickly, and by 2003, they started offering franchises.
From a small family business, today, Five Guys has grown to approximately 1700+ locations in the U.S., Canada, Europe, Middle East, Asia, U.K, etc.
Why Do People Think Five Guys is Closing?
People on the internet were led to believe that Five Guys is closing stores in 2024. This happened because of the convincing ads on Google and YouTube.
The Ad showed pictures of Five Guys with captions such as Restaurant chains closing in 2024, Time to say goodbye to these restaurants, etc.
Although these Ads did not explicitly mention Five Guys, the images of Five Guys certainly fooled people into believing that Five Guys is closing down in 2024.
Is Five Guys Closing In 2024?
Recently, there has been a frenzy about this rumor of Five Guys closing stores, but here’s how it all started.
So in December 2023, people started seeing Google and YouTube ads with pictures of Five Guys and a caption that suggested that Five Guys might be closing, as we already mentioned above.
However, none of it was true. All these ads led people to an article on the website Reference.com with the title: “These 53 Restaurant Chains Are on the Brink of Disappearing Entirely.”
The source code on the article indicated that it was perhaps written in 2020 and was republished in 2021.
Now, this article listed 68 brands in the U.S. with a description of whether or not they are closing- a lengthy article indeed.
However, in the article, Five Guys was not even mentioned once. The pictures Five Guys they used were nothing but clickbait to lure users to their website.
So, if you were concerned about Five Guys closing, then let us assure you that it is not.
Similar Thing Has Happened Before
Five Guys is not the only company that has been the victim of such tactics. The same thing has happened before with three companies: Cracker Barrel, Olive Garden, and Old Country Store.
A similar kind of ad was being run on these companies, claiming that they were making losses and closing down.
However, the representatives of these companies confirmed that none of this was true. Such random ads are nothing but clickbaits to bring in more readers to a certain website.
Why Do These Adverts Exist?
Some of you might already be aware of the term “Clickbaits,” however, the above-mentioned kind of adverts are specifically known as “advertising arbitrage.”
In simple words, such ads aim to bring readers to a website where different ads are run. The aim of this is to bring in more money from the ads.
Although many websites use these kinds of ads, they are often misleading and false.
These websites make such ads as clickworthy as possible to be able to make money. So maksure you don’t trust such random sites and make sure to re-confirm the news on legit platforms.
Are All Five Guys Stores Closing Down?
No, all Five Guys stores are not closing, but Five Guys closed down a few underperforming stores in Texas during Covid-19.
A part of the reason why people were so quick to believe the clickbait was possibly because Five Guys has closed down stores in the past, including:
- Five Guys in Hamilton, Ontario (518 Centennial Pkwy. N.)
- Five Guys in Forth Worth, TX (313 Houston St, Fort Worth, TX)
- Five Guys in Tyler, TX (4510 S Broadway Ave)
Apart from these, some other Five Guys store locations that have been closed down in the past include:
- Five Guys (Ann Arbor, Michigan)
- 27 locations in Texas
- Five Guys (3405 N. Fourth St., Longview, TX)
But that’s about it. Five Guys had to close down these stores because of several reasons, but overall, the company is doing great.
How is the Financial Peformance of Five Guys?
Five Guys has been able to grow and sustain beautifully in spite of getting a hit during the Pandemic. Their global sales have grown by 22.7%, reaching $2,790,474,334.
Here’s Five Guys’ revenue for the last five years.
- 2018: $1,964,000
- 2019: $2,181,000
- 2020: $2,275,000
- 2021: $2,790,000
- 2022: $3,030,000
Does this look like a restaurant chain that is going out of business? Not only this, but the company’s total units are also expanding:
- 2018: 1,579
- 2019: 1,633
- 2020: 1,670
- 2021: 1,733
- 2022: 1,800
Is Five Guys Expanding?
So, the talks about Five Guys closing down were nothing but a rumor. The company is actually expanding.
The company currently has 1700+ locations globally, and the company’s senior supply chain director even mentioned that “they plan to enter six to eight new countries every single year.”
After reading this guide, we hope you now know the truth about Is Five Guys Closing in 2024, which is nothing but a rumor.
Before you believe in such things, make sure you double-check the facts on reliable websites. Some websites try to use such tactics and clickbait to lure readers into being able to earn money from ads.
Thankfully, Five Guys is doing more than fine and is not closing down anytime soon.
How much does a Five Guys Franchise cost?
Five Guys franchise cost can cost you anywhere between $152,600 and $360,300.
Is Five Guys menu healthy?
No, like most other fast-food joints, the food items in Five Guys menu quickly add up in calories, sodium, fats, etc.
Is Five Guys shutting down in 2024?
No, Five Guys is not shutting down in 2024. The recent ads that are circulating on the internet about Five Guys shutting down are nothing but false clickbaits.