Teriyaki Madness is laying it all on the table. The 144-unit chain announced today that it will include all income statements with Item 19 of its Franchise Disclosure Document, including details on earnings, costs, the company's cost of goods sold, profit margins and labor costs.
"We feel that it is important to be 100 percent up-front and honest with all of our prospective franchisees," Michael Haith, Teriyaki Madness CEO, said in a company press release. "We have an extremely profitable restaurant concept and the Asian fast casual segment is booming. It is important for every candidate to see his or her earning potential with Teriyaki Madness."
Teriyaki Madness broke into its15th state and has more than 40 locations open across the United States. The majority of its more than 60 active franchise agreements signed are with multi-unit store operators, including a 20-unit agreement that was signed in the Phoenix metro area last fall. Although the franchise does include single-unit operators, Teriyaki Madness continues to seek multi-unit operators to get to the next level, Haith said.
"With an AUV of just under $1.1 million, Teriyaki Madness is the ideal fit for a multi-unit operator who is looking to complete his or her portfolio," Haith said. "We are incorporating groundbreaking initiatives within our system and are growing at a rapid rate throughout all sections of the country. In a few years, Teriyaki Madness will be a staple in every major city in America and will be the go-to restaurant in the Asian fast casual food segment."