Muscle Maker's Pokemoto Enters New Jersey Market

by Shivani Kumaresan, Benzinga Staff Writer

March 23, 2022 2:27 PM | 1 min read |

Muscle Maker Inc GRIL has signed a new Pokemoto franchise agreement for the Hoboken, New Jersey area.
The agreement marks the first entry for Pokemoto into the New Jersey market.
The Pokemoto franchise model requires an initial franchise fee of $25,000 per unit when the agreement is signed and provides 6% of net sales as an ongoing monthly royalty rate once each location is opened.
Pokemoto has signed 32 new franchise agreements since November 2021.
"Hoboken is a millennial and Gen Z focused community and home to a large population of young professionals," noted Pokemoto CEO Michael Roper.
Price Action: GRIL shares are trading higher by 1.35% at $0.49 on the last check Wednesday.