TGI Fridays signs first U.S. development agreement in 10 years

# What happened TGI Fridays signed its first U.S. development agreement in over 10 years. The franchisee Bliss Bites LLC will take over one of the chain's two remaining Long Island locations and will open five additional TGI Fridays restaurants across New York State.

# Why this matters now The agreement is part of a broader turnaround and growth plan TGI Fridays laid out in January called the "1-2-3 Strategic Vision." The company has goals to reach $2 billion in annual revenue and operate 1,000 restaurants by 2030. Domestic deals like the Bliss Bites agreement are rare for the brand in recent years, which has concentrated development internationally.

# Context on Fridays' recent activity Since January, Fridays has added more than 150 restaurants to its portfolio. Development efforts have been particularly international, with new franchise agreements announced in countries such as Kenya, the Maldives, Peru, Japan, Mexico, the Philippines, Greece, Cyprus, and Spain. The company also announced expansion agreements in the Balkans and Pakistan in the same timeframe.

TGI Fridays began as a singles bar on Manhattan's Upper East Side in 1965. Today the brand operates nearly 400 restaurants in almost 40 countries. Fewer than one-quarter of those locations are in the United States. At its historical peak the chain operated more than 600 domestic restaurants.

# What the company says Fridays positions this development agreement as a domestic example of its strategy to grow with disciplined, franchisee-led expansion. Company leadership framed the move as targeting markets where casual dining can deliver value and experience to guests.

# What to watch next

• Where the five new New York State locations will open and their timelines for construction and openings.
• Whether Fridays signs additional U.S. development partners following this agreement.
• How the domestic mix of restaurants changes relative to international growth as the company works toward its 2030 targets.

# Bottom line The Bliss Bites deal signals a renewed focus on U.S. expansion after a decade without domestic development agreements. It's an early, tangible step in a strategy that is currently growing Fridays' global footprint and aims to rebalance more growth back into the U.S. market by 2030.