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BJs RESTAURANTS INC

CIK: 10134881 Annual ReportLatest: 2026-03-02

10-K / March 2, 2026

BJ’s Restaurants, Inc.

Company overview

  • California corporation operating the BJ’s Restaurants brand and subsidiaries.
  • As of February 27, 2026, owns and operates 219 restaurants in 31 states.
  • Headquarters and primary support operations are centered at a Restaurant Support Center in Huntington Beach, California (approximately 57,000 sq ft; lease expiring July 31, 2030).

Business model and value proposition

  • Full-service restaurant brand offering a varied, high-quality menu, competitive value, and service in a high-energy, welcoming atmosphere.
  • Focus on a “Gold Standard of Operational Excellence” through consistent execution, guest connection, and guest satisfaction measurement (guest experience programs and Net Promoter Scoring).
  • Emphasis on a broad, craveable menu and a significant craft beer program, supported by a full bar and hand-crafted beverages.

Menu and product highlights

  • Menu comprises approximately 90 items designed for diverse dining occasions.
  • Signature items: original deep-dish pizza (crust and sauce reformulated in November 2025), Pizookie® dessert, EnLIGHTened Entrees® (lower-calorie options), slow-roasted entrees and wings, and large-format proteins (prime rib, tri‑tip, pork chops).
  • Beverages: award-winning BJ’s craft beers produced in-house at four facilities, two stand-alone brewpubs, and through independent third-party brewers. In 2025 the company added hard root beer and hard lemonade. Beer portfolio includes about 14 year-round BJ’s beers plus rotating seasonal offerings; beer is available to-go in cans or growlers where permitted. BJ’s Brewhouse Beer Club operates in much of California.
  • Off-premise: beers, cocktails, and select beverages available via take-out and delivery where permitted.

Guests, service model, and technology

  • Service channels: dine-in, take-out, delivery, online ordering, curbside pickup, call-ahead waitlists, and reservations for large parties.
  • Guest-facing technology: handheld ordering tablets, a mobile app for ordering ahead, waitlist management, loyalty features, QR codes, and geolocation for touchless experiences.
  • Loyalty program: BJ’s Premier Rewards Plus.

Growth strategy and site economics

  • Growth strategy focuses on market share expansion in the full-service segment with an emphasis on high-traffic, flexible locations (mature trade areas, suburban shopping centers, lifestyle/entertainment centers).
  • Typical restaurant footprint and historical targets: about 7,500 sq ft, up to ~250 seats; all-in net construction cost around $6.0 million (including landlord tenant improvements where applicable).
  • Targeted new-restaurant economics (at maturity): average annual sales of at least $6.5 million and a four-wall operating cash flow margin of 15% to 20% after occupancy expenses.
  • Ongoing prototype development aims to reduce investment costs, improve labor efficiency, and maintain guest capacity; new markets may have different dynamics and require longer to reach mature profitability.
  • Preopening expenses are expensed as incurred; for fiscal 2025, preopening costs were about $0.7 million per new restaurant.

Operations and real estate

  • All 219 restaurants are located on leased properties, with limited land ownership on select brewpub and adjacent parcels in Texas.
  • Centralized operations and support functions are provided from the Huntington Beach campus.
  • Typical restaurant staffing: about 100 hourly team members per location (many part-time).
  • Operating hours: generally 11:00 a.m. to midnight daily, with exceptions for holidays.

People and culture

  • Approximately 22,000 team members at the 219 restaurants (as of December 30, 2025).
  • Corporate and field employees: about 230 team members at the Restaurant Support Center and field supervision.
  • Labor mix: about 18% of hourly restaurant team members are full-time under ACA definitions.
  • No current company-wide union or collective bargaining agreements.

ESG, charity, and community

  • Community involvement through the BJ’s Restaurants Foundation and charitable campaigns (Cookies for Kids, Alzheimer’s Association, No Kid Hungry) and employee giving programs (Give A Slice and TASC Force).
  • Sustainability and governance efforts are managed by an ESG/sustainability leadership team with a multi-year strategic plan.

Financial snapshot

  • Marketing/advertising spend: about 2.2% of revenues in 2025, 2.0% in 2024, and 1.8% in 2023.
  • Preopening expenses for new restaurant openings: approximately $0.7 million in fiscal 2025.

Competitive landscape and risks

  • Competes in a mature, highly competitive domestic restaurant industry across full-service, fast casual, and quick-service concepts.
  • Key risks include food quality and safety; regulation (alcohol, labor, nutrition labeling, ADA, environmental); supply chain and labor cost pressures; off-premise channel dynamics; weather and seasonality; and shifts in consumer demand and discretionary spending.
  • Brand risk centers on consumer trust and perception of value, quality, and experience.

Key takeaways

  • BJ’s is a large national full-service restaurant brand with a notable craft beer program, a broad menu, and a focus on premium casual dining.
  • The company operates a substantial footprint—219 restaurants in 31 states—and a large workforce of roughly 22,000 restaurant team members plus corporate staff.
  • Growth targets and unit economics are defined for new restaurants, with ongoing prototype development aimed at improving returns and efficiency.