The restaurant will open in the former Shoney's building at 1909 Whiskey Road in Aiken in mid- to late July, said franchise owner Rodney Moss.
Renovations will start in the next few weeks, Moss said. The restaurant will share the 3,200-square-foot building with another tenant.
The local franchise owners of Einstein Bros. Bagels are in discussions with the owner of the former Shoney's restaurant, said attorney Roger Weiss.
"That's certainly a location that we're interested in. We haven't been able to commit to it, and we cannot commit to it until we get some other issues resolved," Weiss said.
Five Guys Burgers will hire 50 people, including cashiers, cooks and assistant managers, Moss said.
"It's directly on Whiskey Road. The visibility is great. It's got enough parking for us. We're right there in the middle of Aiken," Moss said.
Moss and his wife have the franchise rights to open five Five Guys restaurants in the Augusta-Aiken market. They opened their first in March 2009 at 2805 Washington Road in Augusta.
The Mosses are also scouting for locations in Evans, south Augusta and Grovetown.
The Aiken restaurant will have indoor and patio dining areas, and will seat about 100 people.
Einstein Bros. Bagels also has an Augusta location, 2807 Washington Road, which opened in March 2009. Franchise owners Wendy Steele and Stuart Gertman plan to open three restaurants in the Augusta-Aiken market.
"We are definitely planning on opening in Aiken. There's been some delays for a number of reasons. We're very excited about being there. It's still on our radar," Weiss said.