Company Builds Pipeline to 57 Agreements Sold
Fort Worth, Texas, Jan. 19, 2023 (GLOBE NEWSWIRE) — Pokemoto, Muscle Maker, Inc.’s (Nasdaq: GRIL) expanding Hawaiian poke bowl restaurant concept, today announced that it has signed a franchise agreement to open a Pokemoto in Tanger Outlets at Foxwoods in Mashantucket, Connecticut. Foxwoods Resort Casino is the largest resort casino in North America. This new agreement will account for nineteen Pokemoto locations in the Connecticut market, once open, and the 57th franchise agreement signed for the company.
Located at 455 Trolley Line Blvd in Mashantucket, Connecticut Tanger Outlets at Foxwoods has something to do for everyone. The Foxwoods Resort Casino is owned and operated by the Mashantucket Pequot Tribal Nation on their reservation located in Ledyard, Connecticut. The family-friendly destination has four casinos, three diamond hotels, world renowned spas, dining options that range from quick bites to full service, retail shopping, state of the art theaters and award winning golf.
Brandon Viens, the Pokemoto franchisee for this location commented “My culinary career started right here in Foxwoods. Embarking on this Pokémoto venture in an ownership capacity today is more special than I have the ability to convey. Just like our poké bowls, Tanger Outlets and Foxwoods gives everyone a choice to tailor a perfect experience.”
The Pokemoto at Tanger Outlets at Foxwoods will be located on the Grand Pequot Tower side of Foxwoods Resort Casino. This location will be a non-traditional location for the brand. The footprint will be smaller than a traditional location, but the space will have most of the design elements of a standard Pokemoto, giving patrons the same Pokemoto experience. Resort and casino guests can enjoy a build your own poke bowl or refresh with a milk or fruit boba tea on the go while exploring the vast entertainment and shopping options offered.
“The Tanger Outlets at Foxwoods agreement is a unique, non-traditional location for Pokemoto and we’re looking forward to getting this location open and operating. We’re open to non-traditional deals as we have a versatile concept outside of your standard burgers, pizzas and sandwiches, requiring less equipment with a lower buildout cost” said Michael Roper, CEO. He continued, “The Foxwoods Resort Casino covers 9,000,000 sq feet and provides numerous dining and entertainment options for all age ranges making it a prime spot for a Pokemoto. Guests can eat their bowls on the go as they explore or take a break and dine in while enjoying the Pokemoto vibe. The scoop and go linear model keeps the line flowing, allowing guests to move through the line quickly crafting their poke creations. You leave the guest line with your bowl, ready to enjoy. This makes Pokemoto very attractive to entrepreneurs looking for a concept that can serve guests who are on the move. We’re excited to have the Tanger Outlets at Foxwoods on the Pokemoto map and will share details about the grand opening once we have the date on the calendar.”
The Pokemoto franchise model generates up to $25,000 per unit for the initial franchise fee, when the agreement is signed while also 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. The Company does allow, in certain instances, for discounted fees for multi-unit or special agreements.
Pokemoto, a Hawaiian Poke bowl concept known for its modern culinary twist on a traditional Hawaiian classic has open or coming soon locations in Connecticut, Massachusetts, Florida, Maryland, Virginia, Rhode Island, New York, New Jersey, Pennsylvania, Tennessee, Texas, South Carolina, Georgia, Mississippi, Kansas and California. Pokemoto offers contemporary flavors with fresh delectable ingredients that appeals to foodies, health enthusiasts, and sushi-lovers everywhere. Guests can choose from a list of signature bowls or be bold and build their own unique combination of a base, protein, various toppings and nine different sauces. Vegetarian options are available, and the bowl combinations are virtually limitless. The colorful dishes and modern chic dining rooms provide an uplifting dining experience for guests of all ages. Customers can dine in-store or order online via third party delivery apps for contactless delivery.
About Tanger Outlets at Foxwoods
Tanger Outlets at Foxwoods is Southern New England’s upscale, indoor outlet shopping destination, featuring a coveted collection of top brands and local shops. The 311,000 square-foot center features more than 60 premier outlet stores offering real style and real savings every day. Shopper favorite brands at Tanger Outlets at Foxwoods include Eddie Bauer, H&M, Lucky Brand Jeans, Nike and Under Armour. For a full store listing and map, as well as directions, events and scoop on the latest sales, visit tangeroutlets.com/foxwoods download the Tanger Outlets App or connect on Facebook and Instagram. Guests can also access the ultimate shopping experience by joining TangerClub, Tanger’s exclusive loyalty program, for curated offers and rewards.
This press release may include “forward-looking statements” pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. To the extent that the information presented in this press release discusses financial projections, information, or expectations about our business plans, results of operations, products or markets, or otherwise makes statements about future events, such statements are forward-looking. Such forward-looking statements can be identified by the use of words such as “should”, “may,” “intends,” “anticipates,” “believes,” “estimates,” “projects,” “forecasts,” “expects,” “plans,” and “proposes.” Although we believe that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” and elsewhere in documents that we file from time to time with the SEC. Forward-looking statements speak only as of the date of the document in which they are contained, and Muscle Maker, Inc., does not undertake any duty to update any forward-looking statements except as may be required by law.
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