I'm reminded of the dot com internet boom every time I see the announcement of a new burger restaurant cropping up somewhere in Dallas. As Internet stocks exploded, pundits listed myriad reasons why traditional valuation methods did not apply to these new companies that had no revenue but were still somehow worth millions. But while the Internet bubble eventually burst, the burger bubble continues to inflate. Perhaps traditional accounting methods don't apply to a hot hunk of meat casually placed inside a warm bun.
As Lauren wrote this morning, Haystack Burgers & Barley is expected to open later this month at the at the Richardson Heights Shopping Center. Owned and operated by local residents Kevin and Jenny Galvan and Rob and Christine Wondoloski, Haystack will feature local, handcrafted beer and a signature drink. Sounds a little like Hoppdoddy, Liberty Burger, Beck's Prime and all the others to me.
Meanwhile, BurgerFi is a Florida-based "urban burger stand" set to open a new location soon in Garland. The national chain touts an Eco-friendly approach to burger business in an attempt to stand out from the crowd, using energy efficient equipment to operate a burger stand filled with fixtures built from recycled materials. Ho-hum.
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How many more burger restaurants can the DFW area handle? Probably a few million. But it would be nice to see a different concept appeal to the fast casual customer who's looking for something better than McDonald's with less of a commitment than a full service restaurant.