TERIYAKI MADNESS

The system's track record shows resilience: franchising since 2005, now at 197 franchise locations plus 2 corporate stores, with 41 projected new units signaling aggressive growth. Terminations remain low at just 2, while 8 transfers indicate some owner churn but not systemic distress. Item 19 reveals average gross revenues of $1,127,022 and medians at $1,054,343 across units, impressive for fast-casual teriyaki bowls targeting 18-49-year-olds. This trajectory points to a maturing brand gaining traction, though the jump from 2005 origins to today's footprint underscores steady rather than explosive expansion.

Economics demand scrutiny: initial investments span $392,667-$1,121,405, with a $45,000 franchise fee, 6% royalty, 4% brand fund, plus $395/month tech and $13/month gift card fees eroding margins. EBITDA sits at 0%, and estimated profits swing wildly from -$263,488 to $329,768, highlighting high-revenue but volatile profitability amid food costs and competition. Red flags abound—litigation includes arbitration against a former franchisee for early closure, countered with fraud and misrepresentation claims, plus a bankruptcy history that could spook lenders. For investors eyeing multi-unit deals, the numbers tempt with top-line potential, but breakeven hurdles and legal shadows suggest caution over blind enthusiasm.