Former Hedge Fund Trader Builds $135 Million Burrito Fortune
What motivated Steven Marks to start his own Mexican restaurant in Australia?
Steven Marks was motivated to start his own Mexican restaurant in Australia due to the lack of high-quality Mexican food options in the market. After moving to Australia in the early 2000s, he was struck by the poor quality of Mexican food available and believed that there was a gap in the market for authentic, urban, and reasonably priced Mexican cuisine. This led him to establish Guzman y Gomez (GYG) in 2006, which has since grown to become a successful fast-food chain with over 185 restaurants in Australia and other countries.
When did the first Guzman y Gomez restaurant open?
The first Guzman y Gomez restaurant opened in 2006 in Newtown, a suburb in Sydney's inner west. It was founded by Steven Marks, a former New York hedge fund trader, and his childhood friend Robert Hazan5. The Mexican-themed fast-food chain has since expanded to 185 restaurants in Australia, 17 in Singapore, five in Japan, and four in the US.
How many Guzman y Gomez restaurants are there globally?
Guzman y Gomez operates 210 restaurants globally, with the majority located in Australia, along with some in Singapore, Japan, and the U.S. The company has experienced significant growth since its establishment in 2006 and plans to continue expanding in the future.