Pokemoto achieves 50 franchise agreements in 15 states
The milestone of 50 franchise agreements signed, reaching 15 states once opened, has been reached by GRIL, as it has put its foot on the gas with franchising efforts. Specific location details can be found on the Pokemoto website. Pokemoto.com is located.
Achieving 50 franchise agreements signed for a relatively young brand is a major accomplishment for our team, said Michael Roper, CEO of Pokemoto. The team has been working hard to keep the momentum going as we near the end of the year. Franchise sales efforts are focused on finding entrepreneurs who want to be a part of something fresh and new to the restaurant space, an opportunity that is not limited to standard burgers, pizza and salad concepts. We believe we have a unique opportunity with a trending food concept that boasts health benefits, a low cost of entry and ease of operation. The growth of our footprint shows that our franchise marketing efforts are working and that we are resonating with the right audiences. We continue to seek out new partnerships, vendors and resources to expand our tool kit for prospective and current franchisees so that they can focus their efforts on expanding the Pokemoto portfolios. Roper said we are thrilled to announce franchise agreements in markets where we have recently opened company-owned locations in addition to a few new markets, especially since we recently went through a brand redesign and believe we have hit a home run on the new look. It really sets the mood in our stores. The bright colors, Hawaiian graphics and decor and neon lights complete the guest experience, and now we get to show it off to our guests and prospective franchisees. We look forward to sharing more details on the opening of our newly announced agreements in the near future! The 50 signed franchise agreements news comes on the heels of a recent announcement of Pokemoto's partnership with Newtek Business Services Corp. NEWT, a qualified lending source, is a qualified source to assist current and prospective franchisees with funding to open Pokemoto eateries across the United States, providing another partner to help with an array of business solutions for Pokemoto franchisees.
When the agreement is signed, the Pokemoto franchise model generates up to $25,000 per unit for the initial franchise fee, while providing up to 6% of net sales as an ongoing monthly royalty rate once each location is opened. The typical franchise agreement is for 10 years with a 5 year renewal option. In certain instances, the Company allows for discounted fees for multi-unit or special agreements.
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