Colorado-based Teriyaki Madness is on the move, opening 13 shops during Q3 and adding 11 more by year’s end. In addition to welcoming franchise partners, Teriyaki Madness broke into several markets this quarter, including Missouri and Louisiana. Altogether, the brand has welcomed 32 franchisees for a total of 102 stores.
“The franchise development momentum we are seeing this year is the fastest we’ve ever seen, which is really a testament to the strength of our business model and concept,” Teriyaki Madness CEO Michael Haith said in a company press release. “We are really firing on all cylinders in terms of sensational sales and franchise development.”
A major advantage to franchising with Teriyaki Madness is the concept’s uniquely strong scalability, Haith said, pointing out that over 40% of this year’s openings are from existing franchisees who have expanded their portfolio to include multiple shops.
With so many shops opening, the Teriyaki Madness team is optimizing the business model. It recently launched free delivery Tuesdays, which didn’t only increase dispatch (delivery) sales, but also resulted in an overall bump in system-wide sales between July and September. For the newly-opened shops, the brand also shifted its grand opening tactic to combine a traditional in-person strategy with its post-COVID virtual best practices.
Behind the scenes, Teriyaki Madness has been evolving its real estate strategy for incoming franchisees and facilitating partnerships with national providers to overcome the challenges of today’s real estate market. For example, the brand -announced partnerships with Boston-based real estate brokerage Bialow Real Estate and construction program management company Sevan.
With 60 Teriyaki Madness shops slated to open next year, the brand is set to hit the 200-unit mark by the end of 2023 and is focused on finding qualified franchise partners interested in multi-unit development.
“Growth is not something we force,” Haith said in the press release. “We look at where the demand is and ensure the opportunity is right. Right now, we don’t have to look very hard. The demand for Teriyaki Madness is growing everywhere, and potential multi-unit franchisee partners are finding us who have experience and are looking to grow their portfolios. As we prepare for the end of the year, we are excited to see what the future holds.”
