[video] Quick Take: Potbelly Delivers Hot IPO
Lewis said the company had a really good roadshow, serves great sandwiches and has customers that love them. That winning recipe led to a strong debut on Wall Street, where casual dining has enjoyed a strong 2013. With proper pricing and a customizable product, Lewis said the other two keys for success are having quality products and hiring nice people.
While diners can go to Potbelly for dinner, the focus is clearly on lunch, which drives 60% of the company's business. Although Borchardt questioned the potential for over-saturation in certain markets, Lewis is confident that is not the case.
He insisted it is essential there be enough locations to accommodate the diners, specifically in locations with dense populations such as New York City.
He added that the company is focused on expanding one neighborhood at a time and winning loyal customers.
-- Written by Bret Kenwell in Petoskey, Mich.