Protein Bar

About Protein Bar

Protein Bar & Kitchen operates as a health-focused, fast-casual restaurant chain, positioned to serve active and health-conscious consumers.

The company was founded in 2009 by Matt Matros, who, after losing 60 pounds on a high-protein diet, identified a market gap for quick, healthy meal options. Frustrated by the lack of suitable food choices for his active lifestyle while working as a brand manager for Kraft, he invested his life savings to open the first storefront in downtown Chicago. The initial concept focused on protein shakes and later expanded to a full menu including high-protein salads, quinoa bowls, and wraps. This expansion was driven by Matros' personal recipes, later refined by a professional chef, to introduce superfoods like quinoa and acai to a mainstream audience.

A significant milestone occurred in 2013 when the private equity firm L Catterton made a substantial investment to fuel national expansion. By this time, the company had grown to 12 locations in Chicago and Washington, D.C. Matros exited the business after the sale to L Catterton. In 2017, Jeff Drake, a seasoned executive with experience at brands like Corner Bakery Café and Le Duff America, took over as CEO. Under his leadership, the brand was repositioned, adding "& Kitchen" to its name to better reflect its expanded food offerings and refining operations for growth. A major strategic shift began in May 2023 with the launch of a franchising program, aiming to open 100 new locations nationwide over five years. The first multi-unit franchise agreement was signed in June 2024.

The business operates in the quick-service restaurant (QSR) market, targeting what it calls "fast fuel" for people on the go. Revenue is generated through direct sales at its corporate-owned stores and, more recently, through franchising. The franchise model includes a one-time $40,000 fee, a 6% royalty fee, and a 2% marketing fee. The company also utilizes a multi-channel approach including dine-in, carry-out, delivery via third-party apps, online ordering through its proprietary app with over 125,000 members, and catering.

The menu is the core of its value proposition, offering breakfast, lunch, and dinner. It features a wide variety of customizable items such as bowls, salads, "bar-ritos," and blended drinks. A key selling point is the adaptability of its menu to various dietary needs, including vegan, gluten-free, and keto-friendly options, with over 15 protein choices available. The operational model is designed for efficiency and lower costs, featuring a streamlined kitchen that requires no grills, fryers, or gas lines, which allows for smaller real estate footprints.