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After partnering with a development company that invests in potential high-growth franchise concepts, Teriyaki Madness is in the midst of a growth spurt that will expand the brand outside of its Las Vegas home-base, including agreements for 24 new locations in California and several more units to open in Colorado, Arkansas, and Texas in early 2014.
Since partnering last year with Franchise Sherpas, a franchise incubator and development company, the fresh Asian grill franchise is on pace to open a projected 100 new locations across the U.S. by 2016. Year to date, Teriyaki Madness has seen an impressive 36 percent increase in same store sales year over year. By introducing practices that have contributed to the robust unit-level economics, the partnership has helped create a culture conducive to successful multi-unit ownership. All franchisees that have been with the company for more than one year now, own multiple locations, and plan to expand with additional stores in 2014.
Teriyaki Madness has also recently partnered an outsourced franchise sales agency, Raintree Franchise Sales, that is producing remarkable results. The franchise currently has 14 franchise owners with 50 restaurants in development. New locations expected to open in the first quarter of 2014 outside of the Las Vegas area include Denver, Jonesboro, Arkansas, Pasadena, California, Santa Clarita, California, and Austin, Texas.
"The current momentum built over the past year has encouraged each of our existing partners to pursue additional stores, as well as attract new multi-unit franchisees to join our thriving system," says Rod Arreola, co-founder and CEO of Teriyaki Madness. "It's an exciting time for our brand."
With an investment range of $225,000 to $358,000, Teriyaki Madness has average unit volumes of $855,000 and profitability of 16 percent to 21 percent.
Teriyaki Madness appeals to potential franchisees seeking an alternative to traditional fast-casual opportunities such as pizza, burgers, and subs. With made-to-order entrees featuring signature sauces, fresh vegetables, and 100 percent real ingredients, the fresh Asian grill serves protein-packed portions.
Started by three aspiring entrepreneurs who wanted to launch a teriyaki concept similar to their favorites back home in Seattle, the new Teriyaki Madness franchise agreements will build upon the brand's current two corporate and six franchise locations currently open in Las Vegas.