Signing marks largest franchise deal to date for Pokemoto division; growth rate increases over 200% since acquisition
LEAGUE CITY, TEX. (December 8, 2021) – Muscle Maker, Inc.’s (Nasdaq: GRIL) newest subsidiary Pokemoto, a 19-location and growing poke bowl concept known for its healthier modern culinary twist on a traditional Hawaiian poke classic, announced today that it has signed a 15 site franchise agreement in Massachusetts, fueling the chain’s growth rate to over 200% since its acquisition in May, 2021. With this new agreement, Pokemoto has now signed 21 franchise agreements over the last 45 days. Recently signed franchise agreements were in New York, Massachusetts and Mississippi. Pokemoto currently has open locations in six states – Connecticut, Rhode Island, Massachusetts, Georgia, Maryland and Virginia. This 15-unit franchise agreement represents Pokemoto’s largest franchise agreement signed to date.
The 15-unit franchise agreement is an exclusive development agreement for Worcester and Middlesex, Massachusetts counties. These counties represent the first and second most populous counties in Massachusetts. Both counties have numerous colleges and universities which fit the Pokemoto demographic of Millennial and Gen-Z consumers and are a focal point of the brand’s real estate team. Pokemoto currently has two locations open in Franklin and North Attleboro, Massachusetts.
The 21 new franchise agreements, when opened, will bring the Pokemoto chain to 40 locations: expanding the chain’s footprint over 200% since its acquisition in May 2021. Muscle Maker, Inc. announced that the company recently raised $15M in a private placement with plans to focus on its strategy of franchise growth for its Pokemoto division.
“One of our internal goals at the time of the acquisition in May 2021 was to pursue significant growth and the signed 15-pack in Massachusetts, along with the previously announced 6 deals, provides a solid foundation for these plans” said Mike Roper, CEO of Muscle Maker, Inc. “Our management team brings vast experience in areas of operations, franchising, real estate, distribution and marketing, which was key in inking this 15-pack deal. Expanding the Pokemoto locations via franchising efforts and through corporately owned locations, to ultimately accelerate our top line sales, is the main goal. Our recent capital raise of $15M has provided us with the resources to execute our strategy allowing us to pursue our goals on all cylinders. The Pokemoto concept is new and trendy and we believe that our added buying power, expertise in franchising and site selection, operations and marketing and additional resources presents a unique, low cost of entry opportunity for prospective franchisees.”
For more information on Pokemoto franchising visit www.pokemoto.com/franchise
Pokemoto has nineteen open locations in six states – Connecticut, Rhode Island, Virginia, Massachusetts, Maryland and Georgia with future franchise locations coming soon in New York and Mississippi. Pokemoto offers 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, Healthy Joe’s 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.
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