Dodgers fans celebrate their team's World Series victory at a Tom's Watch Bar. Photo: Michael Blackshire / Los Angeles Times via Getty Images
Tom's Watch Bar, a growing sports bar chain, will raise capital this summer to open new locations, the company tells Axios exclusively.
Why it's the BFD: It's expected to be an active year for restaurant M&A, with chains such as Freddy's hitting the auction block.
Zoom in: Tom's Watch Bar says it has yet to determine how much it will raise but says it expects to open seven or eight locations this year.
It believes it could have more than 600 locations globally.
Catch up quick: Tom's Watch Bar previously raised $37.5 million in mezzanine debt from Sagard Credit Partners in 2022, it says.
By the numbers: The profitable company currently has 13 locations in the U.S., most recently opening doors in Indianapolis and Orlando in 2024.
Its average unit volume (AUV) is $7 million, its unit margin is more than 26%, and its return on investment (ROI) is greater than 40%, while alcohol makes up about 50% of sales.
Between the lines: The business is being fueled by the increasing popularity of sports generally, as well as of fantasy sports and sports betting.
It particularly benefits from fostering communities for alumni who remain rabid fans of their alma maters and want to share their viewing experience with other alumni, regardless of where they live.
Fun fact: Tom's Watch Bar says it hosted 2.5 million fans in 2024.