Teriyaki Madness experienced rapid growth in recent years, more than doubling its unit count.
In 2019, the brand had 63 locations, and today there’s nearly 160 restaurants open. Impressed by that expansion, Charlie Patel decided to join the effort and become a franchisee of the fast-casual concept with an Asian-inspired menu.
For Patel, the deal builds on a long history of franchising and business ownership. Patel said his family has a background in owning convenience stores and hotels, and he became an entrepreneur himself in 2007 when he moved to Mississippi and opened a tobacco store.
Patel later became a Subway franchisee, and in 2012 acquired several locations with the sandwich brand. He’s since expanded his portfolio with Edible Arrangements, and now with Teriyaki Madness plans to develop the brand in Mississippi markets. He’s doing so with friend and business partner Sam Patel.
“We were interested when it first launched and, a year ago, we checked in to see how many stores they had,” Patel said. “We saw they had been growing very rapidly. So, I said, let’s go for it, because it’s a completely unique concept here, which mostly has burgers, chicken and pizza.”
When studying the brand, Patel said he was impressed by the simplicity of the menu, which has just a few core items including chicken, steak, tofu and salmon, making the kitchen more efficient.
“We also talked to a lot of franchisees with T-Mad and visited a few of the locations,” Patel said. “I also spoke with those with a Subway background. In all of those conversations I heard a lot of good experiences with positive growth and with the franchisors overall. We also did a financial analysis and felt confident going with the brand.”
Patel’s plans to develop three locations in and around the Jackson, Mississippi, market. Jodi Boyce, Teriyaki Madness chief marketing officer, said the area has a lot of potential for the brand.
“We have our grand opening down to a science,” Boyce said. “We’ve been able to tweak it here and there, but we do really well in markets where they’ve never heard of us before. We create a lot of trial up front and do some specials to get people in the door so they can taste our product, because that’s the No. 1 thing. Once people taste it, they love it and they come back.”
Boyce said Teriyaki Madness is also confident in the market because of the background of its new franchisees.
“They not only have business experience, but they have restaurant experience,” Boyce said. “We’ve worked with people who don’t have restaurant or business experience because we have such a huge support system.
“What is a bonus about our newest owners, though, is they understand customer service from owning Subways and a hotel,” said Boyce. “That’s one of the biggest pieces. The guest experience and making sure someone comes in, spends their hard-earned money and has a great experience.”
Patel said the exact locations are undecided at this point but they’re working with a real estate team on site selection across Jackson. The first unit is expected to open next summer.
Launched in 2003 in Las Vegas, Teriyaki Madness is now based in Colorado. The initial investment ranges from $350,500 to $976,860.
Source: Franchise Times
