With 68 units awarded through Q3 and a 19% increase in year-over-year systemwide sales, the fast casual teriyaki shop concept continues to expand its footprint and enhance customer experience.
Teriyaki Madness, the fast casual giant shaking things up with teriyaki deliciousness, is painting the town teriyaki-red following a Q3 filled with wok-tastic achievements. With 16 new openings and 68 units sold so far this year sprinkled across the map — including 25 new units awarded among nine new franchisees this quarter alone — the Teriyaki Tsunami is unstoppable.
“Q3 was our own flavor of Madness, the good kind!” said Jodi Boyce, Chief Marketing Officer at TMAD. “Our success is a testament to the strength of our brand, the dedication of our franchisees and our commitment to delivering a superior customer experience.”
This quarter saw several exciting headlines hit the papers of the TMAD newsstand. For example, who could forget the response to the Free Delivery Tuesdays promotion? It ended up yielding the highest participation and redemption rate of any delivery promotion in the brand’s history! Plus, with TMAD’s integrations with delivery partners, they’ve saved franchise owners $1.7 million in delivery commission fees since 2020!
“Free Delivery Tuesdays are everyone’s new favorite day of the week — we doubled our expected redemption rates,” said Boyce. “With ongoing inflation, people are now wanting more bang for their buck, and we’re more than happy to deliver. It is more expensive to eat out right now, so it is clear that people are really responding to these types of offers and discounts.”
Oh, and the catering! Year-to-date, TMAD has seen its catering sales skyrocket a whopping 140% year-over-year (which was already rolling over huge increases in 2022 over 2021), including a Q3 YOY systemwide catering sales increase of 99%.
“We are seeing triple-digit growth in the catering area,” said Boyce. “The end of the year is a natural time for catering services. When you cater, you are giving people a taste for TMAD, so it is also a great intro to the brand and free marketing.”
On the franchise development side, Teriyaki Madness is in full growth mode and they’ve got the bowls to handle it. TMAD has welcomed 27 new franchise owners into its system YTD. This includes a master agreement for multi-unit international development in El Salvador — caramba! TMAD also opened a new location in Albuquerque, NM; St. John’s, FL; and Mesa, AZ. Many existing TMAD franchisees have also continued to expand their teriyaki portfolios with multi-unit development.
Speaking of growth, this quarter also saw TMAD award its first franchise agreement through FranShares, a platform that has raised over $12 million in funding to grow the Teriyaki Madness footprint. Since earlier this year, FranShares has been working with TMAD to partner current franchisees with investors to help Teriyaki Madness operators open additional locations.
Marlin and Brandi McClure, TMAD franchisees in North Carolina, were the first to take a slice out of that FranShares pie to achieve their dreams of multi-unit ownership. Their newest shop opened in Mooresville, NC in August.
“Our journey with TMAD has been a blessing,” said Brandi. “We made a great choice picking this brand; the support and family environment has really helped us to be successful.”
This quarter, TMAD also announced another partnership (when it rains franchisee funding, it pours!) with Benetrends Financial, a trailblazer in the franchise financing industry. Through Benetrends’ Proprietary Franchise Funding Program, TMAD franchisees have quicker access to $30 million in SBA funding, opening up boundless opportunities for expansion and franchisee success.
“Right now, getting money is one of the biggest challenges for prospective business owners everywhere,” said Patrick Pounders, Executive Director of Franchise Development at Teriyaki Madness. “These new finance partnerships are an amazing way to help our franchisees expand in a financial environment that is currently more challenging. As opposed to relying on banks or private equity, this is a great way to grow, and we are excited for what the future holds.”
And we know what you’re thinking, how are people not talking about this?! Well, they are — all of this TMAD momentum isn’t going unnoticed in the franchise industry. The brand was recently ranked #6 on the Franchise Times Fast & Serious list, #314 spot on this year’s Franchise Times “Top 400” list, #26 on the Top 100 Movers and Shakers by Fast Casual, #3,152 on The Inc. 5000, #277 on the Entrepreneur 500 and ranked on Newsweek as one of America’s Favorite Restaurant Chains.
Wrapping up the wild ride of a Q3, Teriyaki Madness shows no signs of slowing down — the brand will have almost 150 shops open across the country by year’s end.
“Our growth is really starting to take off exponentially,” said Boyce. “It has been on the rise for a few years, but not only are we opening new shops with new franchisees, we are also helping existing franchisees open their second, third, fourth and fifth locations. We are having explosive growth. All we can really say is: Get in while you can!”
ABOUT TERIYAKI MADNESS
If you’ve read this far, you know—Teriyaki Madness is making big moves. Named the #1 Fastest-Growing Big Restaurant Chain in the U.S. by Restaurant Business, TMAD’s secret sauce lies in creating value for franchisees, guests and employees alike. More than 130 shops across three countries deliver big, heaping bowls of fresh, natural ingredients to their communities, creating a cult-like following with customers, employment opportunities for neighborhoods, and profitable margins for the operators. Backed by world-class delivery and loyalty innovations and an all-star Executive team, Teriyaki Madness’ focus is on sustainable growth and exceptional experiences. Visit www.franchise.teriyakimadness.com for single and multi-unit opportunities, and join the Teriyaki Takeover.