Pokemoto Expands in Texas with Three New Houston Area Franchise Agreements Signed

Rhea-AI Summary

Muscle Maker, Inc. (GRIL) has announced the signing of three new franchise agreements for its Pokemoto Hawaiian poke bowl restaurants, increasing its total franchise agreements to 60. The company is expanding into the Greater Houston area, known for its diverse cuisine and large population. Recently, Pokemoto also opened its first location in Highland Village, Texas. The franchise model generates up to $25,000 from initial fees and a 6% royalty on net sales. With openings in 16 states and ongoing franchising efforts, the brand aims to enhance its visibility and growth.

Positive

• Signed three new franchise agreements, bringing total to 60.
• Expansion into Greater Houston, enhancing market reach.
• Franchise model generates significant revenue through initial fees and ongoing royalties.
• Recent opening in Highland Village adds to brand presence in Texas.
• Pokemoto operates in 16 states, indicating broad market penetration.

Negative

• None.

Additions Mark 60 Total Pokemoto Franchise Agreements Signed

Fort Worth, Texas, Jan. 24, 2023 (GLOBE NEWSWIRE) -- Pokemoto, Muscle Maker, Inc.’s (Nasdaq: GRIL) expanding Hawaiian poke bowl restaurant concept, today announced that it has signed its first three new franchise agreements in the Greater Houston, Texas market, bringing its total company wide franchise agreements signed to 60. Last week the company unveiled its entrance into Texas with its grand opening of a Highland Village location near Dallas. Pokemoto, once open, is now in 16 states nationwide.

Houston, Texas is the most populous city in the Southern United States, and sixth in North America. Houston has strengths in culture, medicine and research drawing a large residential population and vast employment opportunities. With a diverse metropolitan area, rich in various cuisine types, the Pokemoto development team will work closely with the franchisees to identify location options that meets all brand requirements.

“Pokemoto is focused on growth initiatives as we continue to announce new openings and franchise agreements and execute our franchising strategy,” stated Michael Roper, CEO. He continued “In the past two weeks we’ve announced growth into New York and Texas, the opening of four new Pokemoto locations and the signing of five franchise agreements. We are rapidly growing our development pipeline and the Pokemoto brand. This development gives us more Pokemoto locations on the map and additional visibility to prospective franchisees. It’s easy to explain the Pokemoto concept and unique menu, but we want people to experience the brand by walking into one of our locations and tasting our food.”

The Pokemoto franchise model generates up to $25,000 per unit from the initial franchise fee upon signed agreement 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 10 years with a 5-year renewal option. Pokemoto allows for discounted fees on multi-unit or special agreements.

About Pokemoto
Pokemoto, 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, Kansas and California. 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.

Contacts:

Muscle Maker Grill Marketing
marketing@musclemakergrill.com

Investor Relations
IR@musclemakergrill.com

FAQ

What is the latest franchise agreement update for Muscle Maker (GRIL)?

Muscle Maker, Inc. has signed three new franchise agreements for Pokemoto, raising the total to 60.

How does the Pokemoto franchise model generate revenue?

The Pokemoto franchise model generates up to $25,000 per unit from initial fees and a 6% royalty on net sales.

Where is the new Pokemoto location opening?

The new Pokemoto location recently opened in Highland Village, Texas.

In how many states does Pokemoto currently operate?

Pokemoto currently operates in 16 states across the U.S.

What market is Muscle Maker focusing on with its franchise strategy?

Muscle Maker is focusing on the Greater Houston area for its franchise expansion.