Local franchisees have opened the first location of Teriyaki Madness awarded through FranShares, a new funding platform that supports existing franchisees looking to expand.
Marlin and Brandi McClure, who brought Teriyaki Madness to Charlotte a few years ago, opened their second site last month with the help of FranShares, according to Nation’s Restaurant News. The company partnered with FranShares in a $12 million deal earlier this year to help existing, multi-unit TMAD franchisees access equity investment capital to fuel their expansion plans. The McClures have at least one more location in the pipeline for Charlotte.
“When we became Teriyaki Madness franchisees and signed for 3 locations, we intended to open the Mooresville location first, but early on in the process, we had the opportunity to take over the Charlotte location,” Marlin McClure, President of JKC Hospitality, said in a press release. “We immediately saw success and had such a great experience that we knew we wanted to expedite our expansion, and the partnership with FranShares is what allowed us to expand quickly, without waiting for an SBA loan to come through.”
The McClures are just the first of TMAD’s franchisees to utilize the new partnership, which will allow them to expand bigger, faster, and better. While the duo has only committed to three locations so far, this partnership could convince the entrepreneurs to open more in the future. Before coming to Teriyaki Madness, The McClure had acquired years of experience in the restaurant industry by opening 60 locations for Buffalo Wild Wings.
“Teriyaki Madness has already proven to bring the heat. With FranShares in our franchisee’s corner, we’re going to take it up a notch,” Michael Haith, Teriyaki Madness CEO, said in a press release. “Our successful franchisees are going to be able to aggressively expand in a financial environment that can be challenging to operators. Who needs banks or private equity anyway? This is a great opportunity to grow, and we are excited for what the future holds.”
Looking to the remainder of the year, Teriyaki Madness is targeting the greater San Francisco, Phoenix, Los Angeles, Houston, Chicago, and Dallas areas, as well as northern New Jersey up through Massachusetts, for further expansion. The company has over 130 locations, with another 90 in development.
