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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. (Nasdaq: GRIL) has announced the grand opening of a new Pokemoto location in Northeast Philadelphia, PA, as part of its brand optimization strategy. This restaurant replaces a Muscle Maker Grill and is the second conversion of its kind, following a similar change at the Fort Meade military base in Maryland. The new eatery features a vibrant design and is set up for efficient service through third-party delivery services, targeting Millennials and Gen Z customers. Muscle Maker aims to expand its Pokemoto brand through corporate and franchise locations.
Muscle Maker, Inc. (Nasdaq: GRIL) has signed a new franchise agreement for the Pokemoto Hawaiian poke bowl concept in Old Bridge, New Jersey. This is the company's 44th franchise agreement and marks significant growth, following three recent grand openings in other states. The new location aims to cater to a demographic of Millennials and Gen-Zs in a heavily residential area, enhancing brand visibility and market reach. The franchise model offers $25,000 per agreement and ongoing royalties of up to 6% of net sales.
Pokemoto, a brand under Muscle Maker, Inc. (GRIL), has opened its eleventh location in Colchester, Connecticut. This opening is part of a rapid expansion strategy with nine more agreements signed in the state, solidifying its position as the largest poke player in Connecticut. The company recently celebrated three openings in ten days, including locations in Mississippi and Florida. The franchise model shows robust potential, generating up to $25,000 per signed agreement and up to 6% in ongoing royalties.
Muscle Maker, Inc. (Nasdaq: GRIL) has opened a new Pokemoto restaurant in Orange Park, Florida, in a shared facility with its Meal Prep brand, Superfit Foods. This new location, occupying 300 sq ft of a 4,000 sq ft space, is designed for takeout and online orders through third-party services. The company is focused on expanding its brand visibility and franchise opportunities, having already secured 43 franchise agreements and with nine locations under construction. The veteran's discount for franchises has been significantly reduced from $25,000 to $10,000.
Muscle Maker, Inc. (Nasdaq: GRIL) has announced the grand opening of its first Pokemoto franchise location in Oxford, Mississippi. This marks the initial launch of three franchise agreements in the state, strategically positioned near the University of Mississippi to attract Millennials and Gen Z customers. The new outlet showcases a modern design and a menu featuring customizable poke bowls and boba teas. With 43 franchise agreements sold and 10 locations under construction, the company aims for aggressive growth in the poke segment, generating substantial revenue through franchise fees and royalties.
Pokemoto, a brand of Muscle Maker, Inc. (GRIL), has solidified its position as the largest Hawaiian poke chain in Connecticut, with a total of 18 locations planned. Recently, three additional franchise agreements were signed, bringing the total of new franchise agreements to 43. The franchise model includes an initial fee of up to $25,000 and a 6% royalty on net sales. The brand is expanding into new states, including Kansas, Tennessee, and Texas, with 11 locations currently under construction. CEO Michael Roper emphasizes ongoing growth and market coverage.
Muscle Maker, Inc. (Nasdaq: GRIL) reported a strong cash position with over $13.4 million as of June 30, 2022, and an accelerating growth trajectory with over 40 franchise agreements. CEO Michael Roper highlighted a 26% improvement in operating profits despite rising inflationary pressures, aided by a reduction in SG&A costs by over 35%. The company is set to open corporate locations in Philadelphia, Jacksonville, and Wichita, with a franchise expansion plan covering 40 states. The focus remains on enhancing the Pokemoto brand, capitalizing on growth opportunities.
Pokemoto, part of Muscle Maker, Inc. (GRIL), is expanding its Hawaiian Poke Bowl concept with a new location in Wichita, Kansas. This marks the entry of Pokemoto into the Kansas market, joining 12 other states where it is either open or coming soon. CEO Michael Roper emphasized the strategic importance of this corporate store as a 'seed' location to facilitate franchise sales in the area. Previously, 40 new franchise agreements were announced, indicating a busy expansion phase for the company.
Muscle Maker Grill has launched a new menu feature with four (lite) ranch-based wraps aimed at health-conscious consumers. This initiative aligns with the company’s mission to offer nutritious alternatives to traditional fast food. Menu items include Buffalo Chicken Wrap, Chicken Bacon Ranch Wrap, Philly Chicken Cheesesteak Wrap, and Turkey Spinach Avocado Wrap, all served with a side. The wraps incorporate lite ranch dressing to reduce calories and fat, addressing the popularity of ranch dressing among customers. The new offerings are available at participating locations.
Pokemoto, a Hawaiian poke bowl franchise under Muscle Maker, Inc. (GRIL), has signed its 40th franchise agreement in Gallatin, Tennessee. This marks Pokemoto's entry into Tennessee, enhancing its presence across 12 states. The franchise model includes a $25,000 initial fee and a 6% royalty on net sales, with discounts available for veterans. Recently, Pokemoto partnered with FranFund to offer funding solutions for franchisees. With new locations in various stages of development, the company aims for a busy second half of the year.
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