Pokemoto has Linked with Accredited Lending Source – FranFund to Assist Franchisees in Securing Funding for their Pokemoto Business
League City, Texas, May 05, 2022 – Muscle Maker, Inc. (Nasdaq: GRIL), the parent company of Muscle Maker Grill restaurants, Pokemoto Hawaiian Poke and SuperFit Foods meal prep, today announced that its Pokemoto Division has partnered with FranFund, an accredited lending firm to assist current and prospective franchisees in the process of securing funding to build Pokemoto Hawaiian eateries across the country.
FranFund is a one-stop funding solution that has pioneered offering multiple funding options under one roof in the franchise space. Services include building a funding strategy, 401(k) business funding and business loans. Loans include SBA and conventional loans. Their leadership and lending teams consists of franchise and small business veterans and bankers dedicated to helping franchisees secure the best loan available. FranFund provides unlimited consultations to review all lending options and offers FranScore, a pre-approval business loan tool designed to access credit profiles from a lender’s standpoint.
The Pokemoto franchise model requires $25,000 per unit for the initial franchise fee, when the agreement is signed while also providing 6% of net sales as an ongoing monthly royalty rate once each location is opened. The Company does allow, in certain instances, for discounted fees for multi-unit or special agreements.
Pokemoto recently announced the sale of five units in Rhode Island bringing its total franchise agreements inked to 37 since November. Pokemoto currently has restaurants under construction or in the lease negotiation phase in Florida, New York, Pennsylvania, Connecticut, Rhode Island, Mississippi and Massachusetts with training of franchisees scheduled to begin in May and openings projected shortly thereafter.
“Securing a funding solution for our franchisees has been on our radar since we’ve focused on our franchise efforts as part of the company’s growth strategy and we’re confident that we’ve partnered with the right institution to check that box” said Michael Roper, Chief Executive Officer of Pokemoto. “Investing in any business is a big step and we want our franchisees to feel confident in knowing all of their lending options. We believe adding FranFund to our toolkit bolsters our available resources with the goal of assisting Pokemoto in signing more deals. With corporate and franchise locations opening in Florida, New York, Pennsylvania and Massachusetts in the coming months, we know our real estate and development, and franchise sales teams will be busy, and we believe this new lending service will be attractive to new franchisees and assisting existing franchisees in expanding their Pokemoto portfolios.”
For more information on FranFund, visit www.franfund.com
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 restaurants, Pokemoto Hawaiian Poke and SuperFit Foods meal prep. 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.
Pokemoto (www.pokemoto.com) a Hawaiian Poke bowl concept known for its modern culinary twist on a traditional Hawaiian classic has open locations in Connecticut, Massachusetts, Florida, Maryland and Virginia with future locations coming soon in Rhode Island, New York, Massachusetts, Connecticut, Florida, New Jersey, Pennsylvania and Mississippi. Pokemoto offers contemporary flavors with fresh delectable ingredients 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.
FranFund designs flexible, all-in-one funding plans that fit perfectly, no matter how rapidly your franchise or small business grows. Our most popular funding programs are SBA loans and 401(k) business funding, which allows you to use qualified retirement savings tax-free and penalty-free. By utilizing our franchise-specific pre-qualification tool and cultivating an extensive network of lenders who are franchise and small business friendly, clients pre-approved by FranFund have a loan approval rate of 99%.
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.