Pokemoto Crosses Milestone of 50 Franchise Agreements Signed
December 06 2022 - 09:00AM
GlobeNewswire Inc.
Pokemoto, Muscle Maker, Inc.’s (Nasdaq:
GRIL)
expanding Hawaiian poke bowl restaurant concept, today announced it
has crossed a threshold milestone of 50 franchise agreements
signed, reaching 15 states once opened, since putting its foot on
the gas with franchising efforts. Pokemoto will make a splash in
new markets while expanding in existing markets, including Texas,
South Carolina, New Jersey, Connecticut, Massachusetts, Rhode
Island, Florida, Kansas, Maryland, Virginia, New York,
Pennsylvania, Mississippi, Tennessee and Georgia. Specific location
details can be found on the Pokemoto website –
www.Pokemoto.com/locations.
“Achieving 50 franchise agreements signed for a
relatively young brand is a major accomplishment for our team” said
Michael Roper, CEO of Pokemoto. “The team has been working
tirelessly to keep the momentum going as we near the year’s end.
Franchise sales efforts are set on seeking out entrepreneurs
looking to be a part of something fresh and new to the restaurant
space; an opportunity outside of your standard burger, pizza and
salad concepts. We believe we have a unique opportunity with a
trending food concept that boasts “healthier for you” benefits, a
low cost of entry and ease of operations. Seeing our footprint grow
shows that our franchise marketing efforts are working and that
we’re resonating with the right audiences. We continue to seek out
new partnerships, vendors and resources to expand our tool kit for
prospective and current franchisees so that they can focus their
efforts on expanding their Pokemoto portfolios.”
Roper continued, “We’re thrilled to announce
franchise agreements signed in markets where we’ve recently opened
company owned locations in addition to a few new markets;
especially since we’ve recently gone through a brand redesign and
believe we’ve hit a home run on the new look. It really sets the
vibe in our stores. The bright colors, Hawaiian graphics and decor
and neon lights complete the guest experience and now we get to
really show it off to our guests and to prospective franchisees. We
look forward to sharing more details on the opening of our newly
announced agreements in the near future!”
Pokemoto’s 50 signed franchise agreements news
comes on the heels of a recent announcement of Pokemoto’s
partnership with Newtek Business Services Corp. (Nasdaq: NEWT), a
qualified lending source to assist current and prospective
franchisees with securing funding to open Pokemoto eateries across
the United States; providing another partner to potentially assist
with an array of business solutions for Pokemoto franchisees.
The Pokemoto franchise model generates up to
$25,000 per unit for the initial franchise fee, when the agreement
is signed while also providing up to 6% of net sales as an ongoing
monthly royalty rate once each location is opened. The typical
franchise agreement is for 10 years with a 5 year renewal option.
The Company does allow, in certain instances, for discounted fees
for multi-unit or special agreements.
About PokemotoPokemoto, a
Hawaiian Poke bowl concept known for its modern culinary twist on a
traditional Hawaiian classic has open or coming soon locations in
Connecticut, Massachusetts, Florida, Maryland, Virginia, Rhode
Island, New York, New Jersey, Pennsylvania, Tennessee, Texas, South
Carolina, Georgia, Mississippi and Kansas. 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, 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.
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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