Muscle Maker’s Pokemoto Division Partners with FranFund
May 05 2022 - 8:30AM
Muscle Maker, Inc. (Nasdaq:
GRIL), the parent
company of Muscle Maker Grill restaurants, Pokemoto Hawaiian
Poke and SuperFit Foods meal prep, today announced that its
Pokemoto Division has partnered with FranFund, an accredited
lending firm to assist current and prospective franchisees in the
process of securing funding to build Pokemoto Hawaiian eateries
across the country.
FranFund is a one-stop funding solution that has
pioneered offering multiple funding options under one roof in the
franchise space. Services include building a funding strategy,
401(k) business funding and business loans. Loans include SBA and
conventional loans. Their leadership and lending teams consists of
franchise and small business veterans and bankers dedicated to
helping franchisees secure the best loan available. FranFund
provides unlimited consultations to review all lending options and
offers FranScore, a pre-approval business loan tool designed to
access credit profiles from a lender’s standpoint.
The Pokemoto franchise model requires $25,000
per unit for the initial franchise fee, when the agreement is
signed while also providing 6% of net sales as an ongoing monthly
royalty rate once each location is opened. The Company does allow,
in certain instances, for discounted fees for multi-unit or special
agreements.
Pokemoto recently announced the sale of five
units in Rhode Island bringing its total franchise agreements inked
to 37 since November. Pokemoto currently has restaurants under
construction or in the lease negotiation phase in Florida, New
York, Pennsylvania, Connecticut, Rhode Island, Mississippi and
Massachusetts with training of franchisees scheduled to begin in
May and openings projected shortly thereafter.
“Securing a funding solution for our franchisees
has been on our radar since we’ve focused on our franchise efforts
as part of the company’s growth strategy and we’re confident that
we’ve partnered with the right institution to check that box” said
Michael Roper, Chief Executive Officer of Pokemoto. “Investing in
any business is a big step and we want our franchisees to feel
confident in knowing all of their lending options. We believe
adding FranFund to our toolkit bolsters our available resources
with the goal of assisting Pokemoto in signing more deals. With
corporate and franchise locations opening in Florida, New York,
Pennsylvania and Massachusetts in the coming months, we know our
real estate and development, and franchise sales teams will be
busy, and we believe this new lending service will be attractive to
new franchisees and assisting existing franchisees in expanding
their Pokemoto portfolios.”
For more information on FranFund, visit
www.franfund.com
About Muscle Maker, Inc.
Muscle Maker, Inc. is the parent company of
“healthier for you” brands delivering high-quality healthy food
options to consumers through traditional and non-traditional
locations such as military bases, universities, ghost kitchens,
delivery and direct to consumer ready-made meal prep options.
Brands include Muscle Maker Grill restaurants, Pokemoto Hawaiian
Poke and SuperFit Foods meal prep. Our menus highlight healthier
versions of traditional and non-traditional dishes and feature
grass fed steak, lean turkey, chicken breast, Ahi tuna, salmon,
shrimp, tofu and plant-based options. For more information on
Muscle Maker, Inc., visit www.musclemakergrill.com, for more
information on Pokemoto visit www.pokemoto.com or for
more information on SuperFit Foods
visit www.superfitfoods.com.
About Pokemoto
Pokemoto (www.pokemoto.com) a Hawaiian Poke bowl
concept known for its modern culinary twist on a traditional
Hawaiian classic has open locations in Connecticut, Massachusetts,
Florida, Maryland and Virginia with future locations coming soon in
Rhode Island, New York, Massachusetts, Connecticut, Florida, New
Jersey, Pennsylvania and Mississippi. Pokemoto offers contemporary
flavors with fresh delectable ingredients that appeals to foodies,
health enthusiasts, and sushi-lovers everywhere. Guests can choose
from a list of signature bowls or be bold and build their own
unique combination of a base, protein and various toppings and nine
different sauces. Vegetarian options are available, and the bowl
combinations are virtually limitless. The colorful dishes and
modern chic dining rooms provide an uplifting dining experience for
guests of all ages. Customers can dine in-store or order online via
third party delivery apps for contactless delivery.
About
FranFund
FranFund designs flexible, all-in-one funding
plans that fit perfectly, no matter how rapidly your franchise
or small business grows. Our most popular funding programs are SBA
loans and 401(k) business funding, which allows you to use
qualified retirement savings tax-free and penalty-free. By
utilizing our franchise-specific pre-qualification tool and
cultivating an extensive network of lenders who are franchise and
small business friendly, clients pre-approved by FranFund have a
loan approval rate of 99%.
Forward-Looking Statements
This press release may include “forward-looking
statements” pursuant to the “safe harbor” provisions of the U.S.
Private Securities Litigation Reform Act of 1995. To the extent
that the information presented in this press release discusses
financial projections, information, or expectations about our
business plans, results of operations, products or markets, or
otherwise makes statements about future events, such statements are
forward-looking. Such forward-looking statements can be identified
by the use of words such as “should”, “may,” “intends,”
“anticipates,” “believes,” “estimates,” “projects,” “forecasts,”
“expects,” “plans,” and “proposes.” Although we believe that the
expectations reflected in these forward-looking statements are
based on reasonable assumptions, there are a number of risks and
uncertainties that could cause actual results to differ materially
from such forward-looking statements. You are urged to carefully
review and consider any cautionary statements and other
disclosures, including the statements made under the heading “Risk
Factors” and elsewhere in documents that we file from time to time
with the SEC. Forward-looking statements speak only as of the date
of the document in which they are contained, and Muscle Maker,
Inc., does not undertake any duty to update any forward-looking
statements except as may be required by law.
Contact:Muscle Maker Grill
Marketingmarketing@musclemakergrill.com
Investor Relations:IR@musclemakergrill.com
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