From its origins in Santiago's Lastarria neighborhood, Buffalo aims to expand its waffle offering to other Latin American markets.
When Thomas Schulze-Boing and his partner Steffan Fedderson traveled to Argentina in 2013 to escape the grind of work, they had no idea they'd discover the idea that would change their lives. It wasn't anything grand: they found a small café that combined savory ingredients and wrapped them in a waffle batter that was crispy on the outside and fluffy on the inside. This way of reinventing the waffle as a base for savory snacks appealed to them, and they decided to replicate the idea on a large scale in Chile.
Thus, with an initial budget of $8,000,000 (US$8,270), Buffalo Waffles was born, a waffle shop capable of satisfying sweet and savory cravings in unconventional ways. The venture opened its first location in the Lastarria neighborhood of Santiago, Chile, and has since experienced sustained growth through the franchise model.
“In Chile, waffles were usually an ancillary product to coffee, where they didn't have much of a presence. We were pioneers in offering waffles exclusively, and contrary to what one might think, we started with savory waffles, something that was totally innovative, and then we incorporated sweet ones,” Francisca Bahamondes, Assistant Commercial Manager of Buffalo Waffles, explained to AméricaEconomía .
In this way, Buffalo was able to close out 2020, the first year of the pandemic, with 23 locations across Chile; by the following year, it reached 42 points of sale, and by 2025, it expects to surpass 46 locations, from Antofagasta in the north to Punta Arenas in the south. The company also plans to open 15 new points of sale, with an emphasis on northern Chilean regions such as Arica and Tarapacá.
Although Buffalo failed in its attempt to expand its operations to Spain in 2021 with the opening of a location in Madrid, they haven't ruled out expanding into other Latin American markets. For now, though, the priority is to consolidate its presence in its home country.
"I often receive many requests to bring the franchise to Argentina, Brazil, Mexico, and, to a lesser extent, Peru. Some entrepreneurs travel to Chile for tourism or business, come across Buffalo, are intrigued by the concept, and want to bring it to their countries," says Bahamondes.
Under the slogan "rich, sexy, and filling," Buffalo offers a range of waffles characterized by their variety and a certain originality. Those with a sweet tooth can find options like the Volcano Waffle, a combination of caramel, banana, Kit Kat chunks, and whipped cream. Those who go even further with their sugary taste can opt for the Strawberry Fields: Nutella, caramel, strawberries, banana, and whipped cream on a waffle base.
On the other hand, those who prefer something savory can choose the Avocado Special, which consists of buttery cheese, avocado, red onion, arugula, cherry tomatoes , and string fries. Or they can opt for the Cheddar, which contains the same ingredients as the previous menu, except the buttery cheese and avocado are replaced with crispy double bacon and cheddar cheese. There are also vegan and vegetarian options that seek to appeal to these emerging audiences.
“Our added value is the food we offer. It's practical food, although not in the traditional sense of fries, hamburgers, or pizza. For example, the ingredients we use are top-quality: cheddar cheese, Nutella, fresh fruits and vegetables, and so on. Plus, we have our own waffle recipe, and orders are prepared immediately. That's something that sets us apart from the competition,” adds Bahamondes.
But maintaining self-imposed standards is a challenge for franchise models. In Buffalo's case, the company works with the CAMP, an executive who accompanies franchisees throughout their contractual relationship. The company spokesperson assures that the greatest challenge is fulfilling the promise of support and profitability made to the franchisee.
"Of course, all the human capital that joins the franchise also contributes to us. They often provide observations, ideas, initiatives, and process improvements. The CAMPs then evaluate them, and sometimes they even decide to consider applying these ideas to other company locations," he reveals.
In 2024, they had gross sales of approximately $7.8 billion and are currently projecting a 26% sales increase for 2025. Will Buffalo Waffles be able to expand its sweet and savory snack offering to other countries in the region? It remains to be seen, but one thing is certain: successful businesses are often born from simple yet straightforward ideas.
