Tom and Chee net worth is an impressive $22 million, stemming from its 32 location grilled cheese restaurant chain launched in 2009.
Tom and Chee is a popular grilled cheese restaurant chain founded in 2009 by two friends, Trew Quackenbush and Corey Ward. Their unique, made-to-order grilled cheese sandwiches quickly earned legions of devoted fans. Today, Tom and Chee has over 30 locations across 10 states and generates multi-million dollar annual revenues. As of 2023, Tom and Chee’s net worth stands at an impressive $22 million.
Overview of Tom and Chee Net Worth
|Tom and Chee
|Trew Quackenbush, Corey Ward
|Number of Locations
|$8 million per year
|Net Worth in 2023
About Tom and Chee
Tom and Chee is a U.S.-based restaurant chain started in 2009 that specializes in customized, gourmet grilled cheese sandwiches alongside signature melt-in-your-mouth donuts. Their extensive grilled cheese varieties paired with warm hospitality swiftly garnered immense popularity in the hometown of Cincinnati before national expansion.
Today, Tom and Chee operate over thirty locations across ten states led by founders Trew Quackenbush and Corey Ward. Their $22 million valuation is a testament to skilled entrepreneurship converting a beloved food passion into culinary success.
Childhood friends Trew Quackenbush and Corey Ward share an immense passion for grilled cheese inspired by fond memories associated with that comfort food. Before Tom and Chee’s launch, Trew was a rising event manager while Corey ran the house painting business Make It Happen.
Their collective experiences managing operational aspects equipped with a business foundation to manifest Tom and Chee’s vision in 2009 backed by family support after deliberation regarding viability insights from E.A.T restaurant owner Jeff Groh.
The Early Days
Tom and Chee originated as a home-based venture in 2009 by Corey Ward and Trew Quackenbush to present a gourmet grilled cheese experience through delivery/pick-up relying on $17,000 pooled personal savings.
A limited menu of signature sandwiches and donuts quickly garnered neighborhood love through warmth and customization offered. Increasing popularity led Chris Brockman, Marvin Abrinica, and Russell Reittinger to join the founding duo as partners before the first dine-in location launch in the Cincinnati financial district in 2010 for deeper market reach.
Spurred by encouraging customer feedback and franchisee interest, the first franchise outlet opened in Louisville City in 2011 signaling expansion goals. Buoyed by steadily rising franchise sales and corporate location launches averaging 4-5 annually.
Tom and Chee’s footprint boasts 32 operational units currently across Kentucky, Ohio, Michigan, Indiana, etc generating over $8 million group turnover yearly. While the founders steer strategy, COO Chris Brockman leads franchise management and marketing leveraging grassroots support that fueled popularity from inception.
Tom and Chee specialize in made-to-order grilled cheese sandwiches using artisanal breads and cheeses for irresistible flavor combinations. Customers can choose from twenty inventive Signature Melts or craft their own from a wide array of bread, cheese, and topping options prepared fresh. Their bestselling Hangover Melt blends cheddar, bacon, and egg in brioche while funky Prima Donna teams four cheeses with tomato. Irresistible dessert lineup includes Donut Balls, Cream Puffs, and Glazed Donuts. Such delectable varieties offer comfort, nostalgia and indulgence!
Awards and Accolades
Within a decade, Tom and Chee have earned various accolades verifying promising growth trajectory:
- Featured among America’s Fastest Growing Post-Recession Brands List 2015 by FastCasual.com outlet
- Trew Quackenbush and Corey Ward were recognized among Forbes Best Entrepreneurs Under-30 in 2013
- Awarded City Beat Cincinnati’s Best Desserts and Grilled Sandwich Titles 7 straight years
- Corey Ward received Forty Under 40 Recognition by Cincinnati Business Courier in 2018
Through a passion for great-tasting food crafted with heart by the approachable team, Tom and Chee built admired status across their hometown Cincinnati reflected via multiple awards consistently.
Revenue Sources Powering Growth
Tom and Chee income is majorly derived through restaurant operations including corporate and franchised locations. A steadily increasing footprint has catalyzed income rise with average unit volumes touching $650K driven by signature melts.
Promotional events like Donut Day generating thousands in sales boost in-store revenues periodically. Off-premise channels including online ordering, and delivery partnerships with UberEats, and DoorDash add to growth now.
Licensing dine-in and digital rights for global markets like the Middle East, and Latin America launched in 2020 builds a new income pipeline through upfront access fees and a royalty share model.
Retail merchandise sold via online channels and on-premise expands exposure and earnings too. Altogether, multi-channel income acceleration strategies target double-digit annual growth.
Technology and Sustainability Initiatives
As consumer preferences evolve, Tom and Chee incorporated tech-led service innovations via tabletop ordering tablets and mobile apps allowing diners self-serve convenience.
Their menu additions and supply chain changes increasingly address sustainability through eco-friendly packaging, locally sourced ingredients reducing carbon footprint. Such forward-thinking investments cement market leadership amidst competition.
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Tom and Chee Net Worth
Barely into its second decade of operations in 2023, popular grilled cheese chain Tom and Chee has nurtured a valuation of $22 million representing its brand equity and growth prospects nationally. The expanding footprint via owned and franchised units generating close to $8 million group top-line revenue drives this net worth figure.
With average location volumes exceeding the $600,000 benchmark amidst pandemic disruptions, the potential to cross $30 million system turnover in the next 2-3 years seems achievable. Considering purchasing power parity dynamics beyond inflation, Tom and Chee future appears bright reinforced by sound leadership and product edge to possibly touch $40 million net worth during the mid-term.
Driving Forces Behind Success
Tom and Chee’s recipe for achievement blends creative food offerings rooted in comfort appeal with warm, personalized service. Their grilled cheese sandwiches burst with cheese perfection through sheer ingredient quality and preparation mastery.
The food passion of founders Corey Ward and Trew Quackenbush manifests via ceaseless menu innovation keeping the experience fresh. In addition, they credit positive word-of-mouth and community loyalty significantly for progress made since the early days without aggressive marketing investments. Plans remain focused on enhancing customer delight through hospitality and culinary exploration.
Tom and Chee founders Ward and Quackenbush leveraged shared spirit for innovative grilled cheese sandwiches into a multi-location restaurant empire with a $20+ million value within ten years. Their crave-worthy Signature Melts and specialty donuts capture hearts and stomachs nationally.
With an eye on global growth next through licensing ventures, the future looks bright for Tom and Chee built on scratch-made quality and compassion. No surprise their grilled cheese love story promises more cheese-centric happiness chapters ahead for new generations!
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