Wow! Where did these guys come from?
Teriyaki Madness continues its aggressive growth within the fast casual restaurant industry in 2022 and is already looking toward 2023. After notching a stunning 32%* SSS growth in its Teriyaki Shops from 2019 to 2021, TMAD expects to open 34 locations in 2022 and another 60 in 2023, and has commitments to over 200 shops throughout the U.S., Canada and Mexico.
Teriyaki Madness had some of the best results in the restaurant industry through the pandemic due to its brand positioning and investment in technology, allowing it to take advantage of the shift in consumer behavior through the pandemic and beyond. “We invested millions of dollars in developing our ‘tech stack’ to address ease of ordering and delivering our food. Our quality recipes and service which are indicative of a fast casual brand, combined with the convenience of the quick serve segment, allowed us to deliver the value and experience customers were seeking during Covid,” Said Michael Haith, CEO.
The stunning growth of Teriyaki Madness is driven by an experienced leadership team in the fast casual space. “I knew that taking a successful regional brand nationwide was going to take an expert team to create a solid infrastructure in order to build the largest fast casual Asian delivery brand in the country,” Says Haith.
With almost 60 staff supporting 120 Teriyaki Shops, TMAD has also invested heavily in growth and support of its relatively inexperienced franchisees. According to Erin Hicks, President of the 20-year-old chain, “Upon our acquisition of Teriyaki Madness from the founders in 2016, we made a conscious decision to allow inexperienced restaurant franchisees to join our community. The obligation to provide the extensive training, support, and systems, from real estate selection and construction to on-going training and management, has required us to develop proven processes to focus on the needs of every franchisee regardless of experience.”
Multi-unit franchisees from other concepts have taken notice of the young brand. “The recent influx of experienced multi-unit franchisees into our system has rapidly changed the dynamic of our growth. Our expansion is driven by current TMAD franchisees and MUMBOs (Multi-Unit, Multi-Brand Owners) from other systems who want to expand their portfolios with a simple concept in a segment with higher margins, great demand, and little competition,” claims Jodi Boyce, Chief Marketing Officer.
The brand has many of the elements of success in the restaurant industry. Chicken, Asian, healthy, and fast casual are all the fastest growing segments of the industry. TMAD’s Item 19 earnings in their Franchise Disclosure Document detail impressive profit margins from the included franchisee P&Ls and, according to the team, franchisee satisfaction is extraordinarily high with many franchisees building additional shops.
Can TMAD continue to perform at a high level and grow at such a blistering pace? Haith replies, “Here in Colorado we have a saying; don’t get too far out over the tips of your skis. We are growing fast but we have our eyes and ears open, we are responsive to new challenges, and we are growing smart!”
* Refer to the Franchise Disclosure Document
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