Teriyaki Madness and Benetrends partner to provide $30M in working capital for TMAD owners to open shops across the country.
DENVER, Aug. 15, 2023 /PRNewswire-PRWeb/ -- Who says you can't have friends with benefits? Teriyaki Madness, the fast-growing teriyaki shop concept in North America with over 130 units, is continuing its teriyaki love affair with Benetrends Financial, a trailblazer in the franchise financing industry. Through Benetrends' Proprietary Franchise Funding Program, TMAD franchisees can now access $30 million in SBA funding, opening up boundless opportunities for expansion and franchisee success. This perfect pairing officially launches on August 15th, 2023.
"We all know teriyaki is the greatest food on the planet, so we are thrilled to make it easier than ever to help franchisees build out their shops and spread the love by giving them a streamlined process to access capital," said Michael Haith, CEO of Teriyaki Madness.
Not only does this partnership give franchisees greater and faster financing options; it's a hook-up to be proud of. TMAD and Benetrends aren't the one-night-stand types — TMAD is one of only five franchise systems accepted into this program. It's obvious. The two like-like each other, and it's easy to see why.
"We are thrilled to welcome Teriyaki Madness to our Proprietary Franchise Funding Program and allocate $30 million in proprietary funding to their franchisees," said Rocco Fiorentino, CEO of Benetrends. "We see great potential for measured growth and expansion, and this funding will enable both newcomers and existing franchisees to grow at a pace that fits their business model."
Benetrends isn't just your run-of-the-mill finance company. Oh no, they're the rockstars of franchise financing, the favored buddies of the IFA, and they've been backing America's favorite brands for over three and a half decades. And they're not just about offering a one-size-fits-all solution. They've got a smorgasbord of financing options for franchises and they're in the business of making dreams come true, working hand-in-hand with established and aspiring entrepreneurs. Their goal? To help these go-getters secure the funding they need, buy their dream franchise and kick off their business.
"At Benetrends, we constantly strive to push the boundaries of franchise funding possibilities," said Anthony Byrd, Director of Business Development at Benetrends. "Our proprietary program is a testament to our dedication in creating tailored solutions that meet the unique needs of franchise brands like Teriyaki Madness."
This year, Teriyaki Madness has been on a roll as well, with a few dozen openings in 2023 getting the brand to 150 open shops by year's end, and awarding 50 units to new and existing franchisees, marking a significant increase in its footprint across the United States. The company has also seen a 21% year-over-year systemwide sales increase and achieved an impressive franchise average unit volume (AUV) of $1,105,186, demonstrating its resilience and adaptability in the face of changing market conditions.
Year-to-date, TMAD has also seen its catering sales skyrocket a whopping 159% year-over-year (which was already rolling over huge increases in 2022 over 2021). So, it's clear to see why these two lovebirds have slid into each other's DMs. Looking ahead, the partnership with Benetrends is set to make funding faster and easier for both incoming franchisees and existing franchisees looking to expand their portfolio with the exciting and industry-leading Seattle-style teriyaki franchise.
"With this partnership, Benetrends is further showcasing their faith in the TMAD brand, and boy, are we blushing," said Patrick Pounders, Executive Director of Franchise Development at Teriyaki Madness. "The Madness continues, and we're excited to see where this partnership will take us."
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 http://www.franchise.teriyakimadness.com for single and multi-unit opportunities, and join the Teriyaki Takeover.
Media Contact
Julie Maw, Mainland, 3125263996, [email protected], www.hellomainland.com
SOURCE Teriyaki Madness
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