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Muscle Maker, Inc. (Nasdaq: GRIL), a prominent player in the global food supply chain sector, has undergone significant transformation and expansion over recent years. Originally focused on the U.S. restaurant business, Muscle Maker has evolved into a diversified, global food-focused organization, operating through its two main business units: Sadot LLC and the MMI Restaurant Group.
Sadot LLC, the company's largest operating unit, was formed in partnership with Aggia LLC FZ and focuses on international trading and shipping of food and feed commodities such as soybean meal, wheat, and corn. Recently, Sadot expanded its operations into North, Central, and South America, facilitated by a strategic agreement with Buenaventura Trading LLC. This expansion has significantly enhanced the company's geographic reach and strengthened its position in the global commodity trading industry.
The MMI Restaurant Group operates over 50 restaurants, including concepts such as Pokémoto Hawaiian Poké & Boba Tea and Muscle Maker Grill. These restaurants and the fresh-prep meal service, Superfit Foods, cater to the growing 'healthier-for-you' market segment. The National franchise development of Pokémoto is a key growth driver, with over 50 franchise units already in the 2023 pipeline.
Muscle Maker's achievements include its recent addition to the Russell Microcap® Index, reflecting the company's strategic advancements and financial performance, notably a 7000% increase in year-over-year top-line revenue in Q1 2023. The company's subsidiary, Sadot LLC, has generated over $500 million in total revenue since its inception in November 2022.
An essential part of Muscle Maker's growth strategy is its commitment to sustainability and innovation. The recent appointment of David Errington, an expert in the sustainability and environmental sector, to the Board of Directors underscores this commitment.
The company's financial condition remains robust, with positive net income and consistent revenue growth. The recent amendment to the services agreement with Aggia LLC FZ is expected to enhance profit potential by reducing non-cash stock-based expenses by 50%, thus improving bottom-line results.
Muscle Maker continues to grow in size, diversity of operations, and financial strength while maintaining its original principles of sourcing and providing healthier food options. For more information, please visit www.musclemakerinc.com.
Muscle Maker, Inc. (GRIL) announced a new strategy to combine its Muscle Maker Grill and Pokemoto brands under one roof, aiming to cut overhead costs and improve operational efficiency. The first combo restaurant will open in Chelsea, New York City, offering a dual menu featuring both brands. This decision aligns with a recent approval for Pokemoto franchises in New York, with two locations already in development. CEO Michael Roper highlighted the success of a previous conversion that saw revenue growth of over 300%. The combo unit is expected to enhance customer offerings and attract potential franchisees.
Pokemoto, a Hawaiian poke bowl concept by Muscle Maker, Inc. (GRIL), recently expanded its footprint with two new locations in Connecticut, increasing its total to 29 open locations and 45 sold franchise units across 16 states. The new stores in Berlin and Guilford enhance brand recognition in the Connecticut market, where Pokemoto remains the largest poke chain. The franchise model is robust, generating up to $25,000 per unit for franchise fees and 6% of net sales in royalties. The brand's growth is supported by strong demand and strategic marketing efforts.
Muscle Maker, Inc. (Nasdaq: GRIL) has announced significant expansion plans for its Hawaiian poke bowl concept, Pokemoto, with the registration to sell franchises in New York. This move now enables franchise sales in 48 continental states. Recently, Pokemoto opened its first locations in New York and Texas, increasing its presence to 16 states with a total of 56 franchise agreements sold. The second New York location is set to open soon in Tarrytown, enhancing visibility and franchise interest. The franchise model charges an initial fee of up to $25,000 and collects 6% of monthly net sales, indicating strong growth potential.
Pokemoto, a Hawaiian poke bowl concept by Muscle Maker, Inc. (GRIL), has opened a new location in White Plains, NY, marking its expansion into a total of 16 states. This follows the recent opening in Highland Village, TX. The White Plains outlet is strategically located in a busy area, catering to Millennials and Gen-Zs with options for dine-in and takeout.
CEO Michael Roper highlighted the momentum in franchising, noting the signing of 55 franchise agreements. The new openings aim to enhance brand recognition and attract franchisees, offering a unique business opportunity in the fast-casual dining sector.
Muscle Maker, Inc. (NASDAQ: GRIL) is expanding its Hawaiian poke bowl restaurant concept with the opening of its first Pokemoto location in Highland Village, Texas, on January 13, 2023. This grand opening marks Pokemoto's sixteenth state. A VIP day on January 12 will offer discounts to local service personnel. The franchise costs up to $25,000, with ongoing royalties of up to 6% of net sales. CEO Michael Roper expressed excitement for the Texas market and emphasized the company's commitment to franchisee support and growth.
Muscle Maker (Nasdaq: GRIL) has reported a remarkable revenue increase of 1,836% year-to-date, reaching $159.25 million as of January 2023.
Their new subsidiary, Sadot LLC, contributed $150.58 million in its first two months, primarily through international food commodity shipping. Michael Roper, CEO, highlighted the diversification strategy that includes expanding the restaurant and franchising segments. Notably, 55 Pokemoto franchise agreements have been sold, with eight locations already opened.
Muscle Maker, Inc. (GRIL) reported a remarkable 1,369% increase in year-to-date revenue, reaching $118.7 million as of December 29, 2022. This surge is attributed to its new subsidiary, Sadot LLC, which generated over $110 million in its first 45 days of operation.
Sadot specializes in the international shipping of food commodities, with significant shipments made to multiple countries. The company's strategic focus on diversified revenue sources aims to enhance growth and performance within its franchise operations.
Muscle Maker, Inc. (GRIL) has successfully signed 55 franchise agreements, expanding its Hawaiian poke bowl restaurant concept, Pokemoto, across 16 states. The latest agreement targets Northern California, enhancing brand presence in key markets. CEO Michael Roper highlighted the company’s growth potential and the integration of their new subsidiary, Sadot LLC, which generated $54.19 million in revenue in its first month of operation. The franchise model promises significant earnings, charging up to $25,000 per unit and 6% royalties on net sales.
Pokemoto, a Hawaiian poke chain owned by Muscle Maker, has launched a limited-time menu featuring popular SPAM products. The new offerings include the SPAM Musubi Bowl and SPAM Musubi, available at select locations. The bowl consists of air-fried SPAM, sushi rice, edamame, and a variety of toppings. The SPAM Musubi serves as a quick snack option. CEO Michael Roper emphasized the inspiration drawn from Hawaiian culture, where SPAM is widely consumed. The new items can be ordered in-store or through delivery apps.
Pokemoto, a poke bowl restaurant chain under Muscle Maker, Inc. (GRIL), has signed its first franchise agreement in Northern California, marking its expansion to 16 states. This milestone comes as the company surpasses 50 franchise agreements, targeting markets such as Florida, New Jersey, and now California. The new franchise in Northern California offers a discount for veterans, reducing the initial franchise fee from $25k to $10k. Each franchise location can generate a $25,000 initial fee plus a 6% royalty on net sales.
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