Teriyaki Madness Inks Its Largest Franchise Deal
Teriyaki Madness, an evolving national Asian fast casual restaurant concept, announced the signing of its largest franchise agreement in the 13-year history of the company. With nearly 40 stores currently in operation, Teriyaki Madness has inked a deal to bring new restaurants to the city of Phoenix and surrounding areas. The deal, signed with a multi-unit operator who is adding Teriyaki Madness to complete his portfolio, which consists of 35 other existing restaurant franchises, will add 20 Teriyaki Madness locations to the Phoenix market.
“This is a huge commitment for Teriyaki Madness, one that we feel will put us on track to get to a whole new level,” says 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 first opened in the Phoenix metro area in March 2015, when it set up shop in nearby Mesa. The announcement comes only one week after the company announced the hires of seven new corporate executives to support national expansion.
With the Teriyaki Madness franchise model firmly in place—one that reflects a consistent model that allows people to clearly recognize a Teriyaki Madness location and also gives franchisees the ability to customize the interior and exterior design and feel of his or her restaurant—no two Teriyaki Madness locations in Phoenix will look the same. However, they will still resemble the street corner teriyaki shops in Seattle that helped make the brand famous.
The fast casual industry has seen a rise in consumer spending over the last five years, bringing in nearly $20 billion since 2011. Around 45 percent of households in the U.S. consume food with teriyaki at least once per month and Asian food is the fastest growing segment in the fast casual industry.
“The mega deal in Phoenix marks a significant time in the growth and development for the Teriyaki Madness brand,” adds 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 of bold, delicious flavors 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. Customers can choose a bowl or plate and then load it with teriyaki chicken, steak or tofu and add yakisoba noodles, white, brown or fried rice. With fresh-cut veggies, the bowls are customized as low-carb and gluten-friendly, with the average price per meal around $8.