A fast-casual teriyaki restaurant chain has inked a new franchise deal to expand in the Phoenix market.
Denver-based Teriyaki Madness has plans to add 20 restaurants in the Valley as part of its largest-ever franchise agreement.
“This is a huge commitment for Teriyaki Madness, one that we feel will put us on track to get to a whole new level,” said CEO Michael Haith. “We were already beginning to be positioned as a leader in the fast-casual Asian cuisine segment, and this puts us as a major frontrunner. We are looking forward to continuing and expanding our presence in the great city of Phoenix.”
Teriyaki Madness operates one Valley location in Mesa, which opened in 2015. According to the company’s website, the chain has a restaurant coming soon in Gilbert.
“The mega deal in Phoenix marks a significant time in the growth and development for the Teriyaki Madness brand,” said Todd Owen, Teriyaki Madness vice president of development. “This sets us up perfectly for rapid penetration into the Phoenix market while also aligning us with our plans for national growth with experienced multi-unit operators.”
Teriyaki Madness is known for its Seattle-style teriyaki, serving big bowls made-to-order with fresh ingredients. All dishes use all-natural meats that are marinated and grilled with noodles or three kinds of rice and fresh vegetables and served with one of seven home-made sauces. The average meal price is around $8.
Fast-casual concepts are the fastest-growing segment in the foodservice industry, according to QSR Magazine.
Asian food concepts are among the fastest-growing in the fast-casual restaurant segment. A number of teriyaki chains have locations dotted across the Valley including locally based Yogis Grill, which soon will open a location in downtown Phoenix.