Potbelly Plans 15 or More New Franchise Locations Across the Twin Cities Metro
Potbelly Sets Its Sights on the Twin Cities
Potbelly Sandwich has flagged the Twin Cities metro as one of its top targets for franchise-led growth, with plans to bring 15 or more new locations to the area. The Chicago-based chain currently operates 21 company-owned locations across the metro and is now actively recruiting local franchise operators to build out the next wave of growth.
The timing is tied directly to a significant ownership change. RaceTrac, an Atlanta-based convenience store operator, acquired Potbelly in October 2025 in an all-cash deal worth approximately $566 million. Under new ownership, franchising has become the brand's primary vehicle for expansion, a shift that is already reshaping how the company grows across the country.
What the Franchise Push Looks Like
Of Potbelly's 470 locations nationwide, fewer than 30% are currently franchise-owned, but that balance is shifting. The majority of those franchised spots opened within the past few years as the company deliberately moved away from purely corporate-run growth. The brand is on pace to surpass 500 total locations this year, and Minnesota is among its top priority markets.
Expansion territories have already been mapped across the Twin Cities suburbs, stretching as far as St. Cloud. The company is looking for experienced restaurant or service industry franchise operators, with a preference for those willing to take on multiple units in exclusive territories. No local franchisees have been secured yet, so there is no firm timeline, but once agreements are signed, contracts typically require at least one new location to open per year.
What This Means for Twin Cities Communities
New commercial activity has a ripple effect across suburban neighborhoods. When established franchise chains expand into communities, they bring construction activity, local employment, and increased foot traffic to retail corridors. For communities across the east metro, including Woodbury, Cottage Grove, Lake Elmo, and Stillwater, that kind of investment signals growing commercial confidence in the area.
The long-term picture for the Twin Cities metro continues to point toward growth, both residential and commercial. Potbelly's expansion announcement is one more data point in a pattern of national brands identifying this market as one worth doubling down on.
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