Pokemoto, Hawaiian Poke Bowls Casts Wider Net in Philadelphia

Rhea-AI Summary

Muscle Maker, Inc. (Nasdaq: GRIL) has signed a new Pokemoto franchise agreement for the Philadelphia market, increasing its franchise total to 39 agreements. The upcoming location in Northeast Philadelphia will be company-owned, set to open soon. Currently, there are eight Pokemoto locations under development. The franchise model includes a $25,000 initial fee and a 6% ongoing royalty on net sales. This expansion aligns with the company’s strategy to enhance visibility and growth through franchising while focusing on key markets like Texas and Pennsylvania.

Positive

• Total of 39 franchise agreements signed.
• New franchise locations will enhance market presence.
• Company-owned location in Northeast Philadelphia opening soon.
• Expansion in key markets like Texas and Pennsylvania.

Negative

• None.

New Philadelphia Area Franchise Agreement Signed, Bringing Total Agreements Inked to 39

League City, Texas, June 09, 2022 (GLOBE NEWSWIRE) -- Pokemoto, Muscle Maker, Inc.’s (Nasdaq: GRIL) growing Hawaiian Poke Bowl restaurant concept, today announced the signing of a new Pokemoto franchise agreement for the Philadelphia market, bringing the market count up to two locations when opened. The first location to open is company owned and is expected to open in Northeast Philadelphia in the coming weeks.

Pokemoto has now signed 39 new franchise agreements and continues to focus its expansion strategy on franchising while also opening company owned locations in key markets. The Hawaiian poke bowl chain currently has eight locations in the development and construction stages along with multiple LOIs submitted for lease negotiations.

The Pokemoto franchise model allows for an initial franchise fee of $25,000, per unit, 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 including the newly announced veterans program.

Michael Roper, CEO of Pokemoto commented “We’ve added another franchisee to our blossoming Ohana (family), this time to the market of brotherly love! Just last week we announced that we’re diving into the Texas market, and now we’ve added another agreement in Philadelphia. Our company owned Pokemoto location in Northeast Philadelphia should open in the coming weeks and this new Philadelphia franchise agreement will help us cast a wider net in terms of visibility and growth opportunities via franchising efforts. There is no better sales vehicle than bringing prospective franchisees into our Pokemoto eateries to try our delicious custom poke bowl creations. This is exactly why we’re seeding key markets with company owned stores. Our franchising efforts have been in full effect and we’re starting to bear the fruit of our labor. The company has been pulling multiple levers in the arenas of digital targeted marketing efforts, tradeshows, virtual discovery days and more to create the right formula to bring new deals to fruition. Once these locations open Pokemoto will have locations operating across 11 states, including Connecticut, Rhode Island, New York, New Jersey, Massachusetts, Virginia, Pennsylvania, Maryland, Mississippi, Florida and Texas.”

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.

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, Mississippi and Texas. 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.

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 Marketing
marketing@musclemakergrill.com

Investor Relations:
IR@musclemakergrill.com

FAQ

What is the significance of the new Pokemoto franchise agreement for GRIL?

The new franchise agreement marks a total of 39 signed agreements for GRIL, indicating strong growth potential in the Philadelphia market.

When will the new Pokemoto location open in Philadelphia?

The company-owned Pokemoto location in Northeast Philadelphia is expected to open in the coming weeks.

How does the Pokemoto franchise model work?

The franchise model requires a $25,000 initial fee and 6% of net sales as an ongoing royalty once each location is opened.

What are the current development stages for Pokemoto locations?

There are eight Pokemoto locations in development and construction stages, with multiple Letters of Intent for lease negotiations.

How many states will Pokemoto operate in after the new openings?

After the new openings, Pokemoto will operate locations across 11 states.