The aptly-named Muscle Maker, Inc. (GRIL, Financial), the dad or mum firm of the Muscle Maker Grill, Pokemoto and Superfit Meals ideas, is flexing its muscle mass as 2021 involves an in depth, signing a wave of franchise agreements after having posted one other triple-digit income enhance within the third quarter.
The health-focused restaurant firm noticed 190% income positive aspects as the combination of current acquisitions begins to be reported, the corporate mentioned in its most up-to-date earnings report.
On Dec. 20, the corporate’s Pokemoto Division – a 19-location and rising Hawaiian poke bowl idea – signed 4 new franchise agreements, increasing its attain in Connecticut, the model’s core market with the heaviest focus of Pokemoto eateries. The newly signed agreements convey its complete rely in Connecticut to 14 places, the corporate mentioned.
Michael Roper, CEO of the League Metropolis, Texas-based firm, mentioned in a press release that the quarter’s internet loss “narrowed to ($433K) which is the best-performing quarter since our IPO. Because the impression of Covid falls additional into the rear-view mirror and the restaurant trade continues to recuperate, we’re beginning to see a optimistic impression to our portfolio of ‘more healthy for you’ manufacturers – Muscle Maker Grill, Superfit Meals and Pokemoto. Not solely have we skilled a major high line income enhance, we’re additionally seeing our working metrics enhance yr over yr as the brand new entities are built-in into the general Muscle Maker Inc., portfolio of firms.”
The corporate’s IPO in February 2020 got here simply on the outset of the pandemic, which was quite unlucky timing. Nonetheless, during the last seven months, Muscle Maker has made a number of growth-oriented bulletins, together with the acquisition of each Superfit Meals and Pokemoto, opening 4 new places on the Northern Virginia Neighborhood Faculty campuses and launching its Pokemoto franchising technique.
Muscle Maker Grill contains a menu constructed on proprietary recipes and, created with the visitors’ well being in thoughts, is lean and protein-based. It options all-natural hen, grass fed steak, lean turkey, complete wheat pasta, wraps, bowls and extra. It additionally affords a big selection of fruit smoothies in quite a lot of assorted flavors, in addition to protein shakes and dietary supplements.
Pokemoto, a Hawaiian Poke bowl idea recognized for its trendy culinary twist on a standard Hawaiian basic, has 18 open places in 5 states – Connecticut, Rhode Island, Massachusetts, Virginia and Georgia.
Superfit Meals, LLC, is a fresh-prepared meal prep service that markets “more healthy for you” meals in a centrally situated kitchen in Jacksonville, FL, with supply to native gyms and wellness facilities or proper to prospects’ doorways and nation-wide delivery.
“Our progress plan focuses on strategic acquisitions and franchising,” Roper added within the information launch. “Our workforce has intensive franchise expertise in gross sales, actual property and operations and we are going to leverage this expertise to focus in on our progress technique. Pokemoto, a more healthy for you Hawaiian poke bowl model is trending within the meals phase. The idea boasts low construct out and labor prices, ease of operations, small footprints and is extremely favorable with each the Millennial and Gen Z demographics. The entire aforementioned plus the huge gamut of expertise of our administration workforce makes us imagine we now have a successful mixture that ought to drive franchise progress.”
The current acquisitions and openings convey the present complete open retailer rely of all entities to 42 corporately owned and franchised places, in accordance with executives. The corporate has signed leases, growth and franchise agreements that characterize an extra 47 places, which, if absolutely executed upon, will greater than double the dimensions of the present retailer rely.
