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How Fogo de Chão is preparing for expansion and a possible IPO


Commodities inflation and cost of labor increases are two universal problems that have been plaguing the restaurant industry since the COVID-19 pandemic began to wane. But for upscale dining brands like Brazilian steakhouse chain Fogo de Chão, traffic has been growing as guests have returned to their habits of dining out, and the company has figured out a way to stay overstaffed (not just adequately staffed), while navigating supply chain costs and not having to resort to exorbitant price increases.

While it sounds like Fogo’s good fortune is too good to be true, especially when compared to their industry colleagues, CEO Barry McGowan is confident that commodities and menu flexibility and above-average staffing rates has set the stage for the brand’s enormous growth potential.

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