TMAD Signing More Shops
Teriyaki Madness signed agreements with two entrepreneurs to develop new units in Indiana and Massachusetts. One deal is with restaurateur SP Singh, also a franchisee with Mountain Mike’s, Subway and Wings Etc., to open three locations in Indiana. The other agreement is with entrepreneur Joseph Young, who plans to open three shops in the greater Boston area.Ken Schanke and Audrey Poynton are expanding their restaurant portfolio with the addition of Teriyaki Madness. The duo operate four Jersey Mike’s Subs stores in northern Connecticut and signed a deal to develop three Teriyaki Madness units in the same area.
“We were one of the pioneers of Jersey Mike’s in the New England region, and we saw how important it was to have a consistently great product that is exciting and community-driven,” Schanke said in an announcement of the deal. “When we learned about Teriyaki Madness, it checked a lot of those same boxes.”
Schanke also noted the appeal of the business model, which is 80 percent takeout. “It isn’t a sit-down or fine-dining restaurant, and the online app is very user-friendly. That really aligns with what people want today,” he said. Teriyaki Madness also signed a three-unit deal with Drew and Allie Phillips, who will open their restaurants in Chicago. The brand has more than 120 locations open.