First Watch Restaurant Group, Inc.

First Watch Restaurant Group, Inc. is a Delaware holding company that operates in the Daytime Dining segment, serving made-to-order breakfast, brunch, and lunch. Since 1983, the company has focused on using fresh ingredients and a "You First" culture. Its business model centers on a single daytime shift, which helps optimize restaurant operations and generated an average unit volume of $2.3 million per restaurant in 2025, operating for 7.5 hours per day. This approach also aids in attracting and retaining employees due to its "No Night Shifts Ever" policy. As of December 28, 2025, First Watch operated a total of 633 restaurants across 32 states. Of these, 560 were company-owned and 73 were franchise-owned. The company emphasizes freshness through its "Follow the Sun" culinary and sourcing philosophy. Employees prepare ingredients fresh daily, including slicing fruits and vegetables, baking muffins, brewing coffee, and making French Toast batter from scratch. Kitchens do not use microwave ovens, heat lamps, or deep fryers. The menu, inspired by the seasons, changes four to five times per year and has featured items like Parmesan and Prosciutto Toast, Chimichurri Steak and Eggs Hash, and the Brooklyn Breakfast Sandwich.