The original Shake Shack in Madison Square Park — that's got to be a pretty serious money maker, right? The lines suggest yes, but now there's even more proof. The Department of Parks and Recreations released an RFP today (sorry, PDF) for the kiosk in the park that is currently occupied by Shake Shack. Turns out, Danny Meyer's burger shack made over $7 million in the 2011-2012 fiscal year.
The RFP notes that the Parks Department is "seeking proposals that would meet or exceed the standard set by the current concession." This could mean that the Madison Square Park Shake Shack is on the way out, but that's unlikely. Instead, the Parks Department likely can't re-lease the space to Shake Shack without a competitive bidding process, hence the RFP. With Shake Shack's $7.1 million gross receipts last year turning into almost $320,000 for the department and around $250,000 for the Madison Square Park Conservancy (and with those receipts increasing every year), it would take a guarantee of an awful lot of money for the Parks Department to choose someone else.
· Business Opportunities at Parks [DPR, login required]
· All Coverage of Shake Shack[ ~ENY~]