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Family-Owned Business Behind Historic Chicago Brands Ends 2024 with 20% Growth in Systemwide Sales and Success in New Market Expansion
January 03, 2025 // Franchising.com // CHICAGO – The Buona (Bow’nuh) Companies is set to end the year with several impressive milestones under its belt. The family-owned business is behind two iconic Chicago restaurant brands, Buona, Chicago’s original Italian beef and The Original Rainbow Cone, a one-hundred-year-old ice cream shop known for its patented five-flavor ice cream invention.
The Buona Companies’ dedication to bringing authentic Chicago classics to new markets helped drive 20% growth in systemwide sales in 2024. With nine new restaurant openings, the company expanded its footprint and entered new markets with stores in Texas, Michigan and Wisconsin. They are also poised to open stores in Tennessee, Southern California and Arizona in 2025. This strategic growth is fueled by the addition of five new franchise groups, reinforcing the strength of Buona and Rainbow Cone as trusted, scalable concepts and attracting franchisees seeking a proven business model that has been tested and optimized for more than 40 years.
“It’s been a hard year for the restaurant industry as a whole, but we’ve met every challenge head-on and are proud to celebrate another landmark year of growth as a result,” said Joe Buonavolanto |||, Executive Vice President of The Buona Companies and third-generation member of the founding family. “Our success stems from our family’s deep-rooted commitment to championing authentic Chicago food traditions, whether through Buona’s all-natural Italian beef or Rainbow Cone’s legendary ice cream experience. This year’s achievements reflect the dedication of our support team, the reputation of our iconic brands, and the professionalism of our franchisees.”
Critical to its success in new markets is the company’s commitment to supporting its team members and franchisees. In recent weeks, Buona was recognized as one of the “Best Brands to Work For” by QSR Magazine because of its unwavering commitment to fostering a supportive, family-like culture that values its team members. The fast-casual concept also embraced new technologies to enhance guest engagement, rolling out an enhanced rewards program in partnership with PAR Punchh®. The app rewards first-time users and encourages repeat visits, building stronger connections with Buona’s growing ranks of devoted fans. These accolades and advancements affirm Buona’s position as a dynamic and people-focused brand with strong foundations for passionate entrepreneurs to build their own successes upon.
“We’re excited about the path ahead as we continue to grow into new regions and bring these Chicago classics to new markets,” continued Buonavolanto. “Our team’s extensive operations experience and innovative mindset give us confidence in what’s to come for both Buona and Rainbow Cone in 2025 and beyond. With a multitude of openings on the horizon, we look forward to bringing new franchise opportunities to more multi-unit operators who share our passion for preserving Chicago’s beloved food traditions.”
For more information about Buona and Rainbow Cone, visit https://buona.com and https://rainbowcone.com.
For more information about Buona and Rainbow Cone’s franchise opportunities, visit https://buonafranchise.com or https://rainbowconefranchise.com.
About Buona and The Original Rainbow Cone
Buona and The Original Rainbow Cone bring two Chicago family-owned traditions together, combining Buona’s authentic recipe for Italian beef sandwiches and The Original Rainbow Cone’s world-famous 5-flavor “Rainbow Cone.” Four decades, three generations and several dozen restaurants ago, Joe and Peggy opened the first Buona restaurant in Berwyn, Illinois, in 1981, which specialized in their authentic recipe for Italian beef sandwiches. Today, the Buona brand is driven by multiple generations of Buonavolantos and hard-working, dedicated employees who loyally serve Buona customers and surrounding communities. As a result, Buona is the largest family-owned Italian beef restaurant group and Italian beef producer in the country. Rainbow Cone was founded in 1926 by “Grandpa Joe” Sapp, who was never satisfied with just one ice cream flavor and stacked five delicious flavors on a single cone. The company remains 3rd generation family-owned including its original location in Beverly, Illinois.
SOURCE Buona
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Media Contact:
Hailey Martin
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