Outback Steakhouse Evolution: A Historic Overview
Outback Steakhouse has experienced significant growth since its inception in 1988, evolving from a small Australian-inspired restaurant to a global dining phenomenon. The brand expanded rapidly in the 1990s, adding new concepts like Carrabba's Italian Grill and entering international markets. By the late 1990s, Outback surpassed $1 billion in revenue and continued to innovate with smaller outlets and international ventures. Its steady expansion and diversified menu offerings have solidified its place as a leading casual steakhouse worldwide.
The Evolution of Outback Steakhouse
Originating in Australia and now an iconic American casual dining chain, Outback Steakhouse operates from Tampa, Florida. With a presence spanning 23 nations across the Americas, Asia, and Australia, it boasts nearly 1,000 locations. Founded in 1988 by Bob Basham, Chris T Sullivan, Trudy Cooper, and Tim Gannon, the brand has achieved numerous milestones, cementing its reputation as a leading steakhouse worldwide.
Here's a look at their development timeline:
Early 1990s: Going Public and Expanding Rapidly
By 1992, Outback had opened approximately 35 new restaurants, continuously growing its footprint. Innovations in signature dishes contributed to its rising popularity, and by year's end, combined sales approached $200 million. The company’s steady expansion included surpassing 100 locations across 15 states, marking its debut as a publicly traded entity with 150% annual growth.
Mid-1990s: Introducing Carrabba's and Diversifying Menus
The addition of Carrabba’s Italian Grill and other concepts broadened Outback's offering. In collaboration with a Houston-based restaurant group, they expanded internationally, opening new outlets. In 1994, they opened 70 Outback Steakhouses and 10 Carrabba's locations, reaching 300 Outback restaurants and 25 Carrabba’s by 1995. Revenues doubled to over $665 million that year.
Late 1990s: Surpassing $1 Billion in Revenue
The brand’s international growth began around 1996, starting with a location in Canada and expanding into Aruba, Brazil, China, Guam, Mexico, and South Korea. By the end of the 1990s, over 40 Outback steakhouses operated outside the U.S. The company continued focusing on global markets into the 2000s, experimenting with smaller concepts like airport outlets, and hit over $1 billion in revenue by millennium's end.
