Chain Highlights Focus on Franchising as Growth Engine
LEAGUE CITY, TEX. (March 3, 2022) –Muscle Maker, Inc. (Nasdaq: GRIL), today announced it has published a shareholder strategic update letter updating its strategic direction and the impact of focusing on franchising on its growth plans. This letter can be found here: https://www.sec.gov/ix?doc=/Archives/edgar/data/0001701756/000149315222005900/form8-k.htm
Muscle Maker, Inc. is the owner of Muscle Maker Grill restaurants, SuperFit Foods meal prep and Pokemoto Hawaiian poke restaurants. The Company is focusing its efforts on franchising to continue its growth path. Recently, the Company announced the signing of a 40 location development agreement for Saudi Arabia for its Muscle Maker Grill restaurant division as well as signing 31 new franchise agreements for its Pokemoto Hawaiian poke restaurant division.
The Pokemoto division is currently on a growth trajectory of 300% since its acquisition in May 2021. The 300% growth trajectory is associated with growing the chain from 13 locations when acquired to having 20 locations open today, 2 corporately owned and operated locations currently under construction and an additional 31 new franchise locations sold. Once all opened, Pokemoto will have grown from 13 units to 53 locations.
Michael Roper, CEO of Muscle Maker, Inc. said “our Pokemoto division continues to build its pipeline of potential franchisees and locations and looks forward to additional locations being added to the portfolio. We have spent a lot of time developing and building our infrastructure and are starting to see the benefits coming to fruition. In a short period of time, we have the company positioned for 300% growth, become the largest Hawaiian poke concept in Connecticut, added multiple franchise experts is sales and support, updated our website, and currently have locations in Connecticut, Massachusetts, Florida, Virginia, Rhode Island and Maryland. We also have locations coming soon to Mississippi and New York.” He continued, saying “its very refreshing to focus on growing the business as the economy seems to be exiting Covid protocols allowing our experienced team of franchising professionals to do what they do best”
Pokemoto has twenty open locations in six states – Connecticut, Rhode Island, Virginia, Massachusetts, Maryland and Florida with future franchise locations coming soon in New York, Massachusetts, Connecticut, Florida and Mississippi. Pokemoto offers up chef-driven contemporary flavors with fresh delectable and healthy ingredients such as Atlantic salmon, Ahi tuna, fresh mango, roasted cashews and black caviar tobiko 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.
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, Pokemoto, Superfit Foods and multiple ghost kitchen brands such as Meal Plan AF, Wrap it up Wraps, Bowls Deep, Burger Joe’s, MMG Smoothies, Mr. Tea’s House of Boba, Gourmet Sandwich Co and Salad Vibes. 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 or for more information on Superfit Foods visit www.superfitfoods.com.
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.