Muscle Maker Inc’s GRIL subsidiary Pokemoto has signed a 15 site franchise agreement in Massachusetts, fueling the chain’s growth rate to over 200% since its acquisition in May 2021.
Pokemoto is a growing poke bowl concept known for its healthier modern culinary twist on a traditional Hawaiian poke classic.
What Happened: Pokemoto has signed 21 franchise agreements over the last 45 days with this new agreement.
This 15-unit franchise agreement represents Pokemoto’s largest franchise agreement signed to date.
Recently it signed franchise agreements in New York, Massachusetts, and Mississippi.
Why It Matters: The 21 new franchise agreements, when opened, will bring the Pokemoto chain to 40 locations: expanding the chain’s footprint over 200% since its acquisition in May 2021.
Muscle Maker recently raised $15 million via a private placement with plans to focus on its franchise growth strategy for its Pokemoto division.
Pokemoto partnered with Franserve, a franchising consulting firm, to expand its franchising growth strategy.
The Franserve network comprises 600+ franchise sales consultants looking to make deals with qualified entrepreneurs and franchisees. The partnership with Franserve has already kicked off and touted numerous benefits & resources.
Price Action: GRIL shares closed at $1.15 on Wednesday.
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