Palm Beach, FL – November 11, 2021 – FinancialNewsMedia.com News Commentary – Poke bowl originated in Hawaii, where the dish was composed of chunk, marinated raw fish with condiments such as seaweed and candlenuts. The dish made its popularity in the mainland due to its convenience, nutrient-rich, healthy and swappable ingredients, Instagram-friendly looks and affordable prices. Poke has grown from its traditional form. Nowadays, poke is fully customizable to fit customers’ special diets. For example, customers can switch from rice to salad as a base for their poke. A report from Research And Markets said that the poke foods market is poised to grow by $1.2 billion during 2020-2024 progressing at a CAGR of 14% during the forecast period. The market is driven by the health benefits of poke foods and the increasing number of new vendors offering poke foods. Another report from Fortune Business Insights added: “Poke food is a traditional Hawaiian dish that utilizes diced raw fish, either consumed as an appetizer or in the main course. Traditionally poke is made using tuna fish varieties which can also be substituted with shellfish or octopus. The poke food is rich in omega-3 fatty acids and protein; this benefit will fuel its demand among the health conscious consumers. Additionally, the growing trend of customizing quick and healthy fusion-flavoured food would further drive its market growth. Active companies in the markets this week include Muscle Maker, Inc. (NASDAQ: GRIL), Yum! Brands, Inc. (NYSE: YUM), McDonald’s Corporation (NYSE: MCD), Restaurant Brands International Inc. (NYSE: QSR), The Wendy’s Company (NASDAQ: WEN).
Fortune Business Insights added: “The rising trend of creating innovative poke bowl using unique flavors and ingredients is one of the factors that is driving its market growth. Various fast food chains and restaurants are utilizing lobster and caviars instead of raw fish. For instance, In January 2018, Hippy Fish Poke, London introduced antioxidant-rich, organic poached chicken poke served with detoxifying back rice. Thus, these innovations would withdraw consumers’ attention and therefore aid in its growth. The increasing demand for grab-and-go food owing to the fast-paced lifestyle of the consumers has primarily driven the poke food market growth. The consumers are always looking for healthy and convenient foods that they can feel good about eating. Along with this, the poke food is minimally processed which makes it a healthy snack alternative to fast foods, this has contributed in fuelling its market growth.”
Muscle Maker, Inc. (NASDAQ: GRIL) BREAKING NEWS: Muscle Maker’s Pokemoto Division Signs Deal with Franserve, World’s Largest Franchising Firm to Build on Company’s Franchise Growth Strategy – Muscle Maker, Inc. newest subsidiary Pokemoto, an 18-location and growing poke concept known for its healthier modern culinary twist on a traditional Hawaiian poke classic is expanding its franchising growth strategy by partnering with Franserve, the world’s largest franchising consulting firm. The Franserve network is comprised of 600+ franchise sales savvy consultants looking to make deals with qualified entrepreneurs and franchisees. The partnership with Franserve kicked off this week and touts numerous benefits and resources – some listed below.
- Resources Available through Franserve
- 600+ consultant network
- Webinars with consultants
- Brand intro/meet the team communication
- E-blast communication on updates and news
- Monthly magazine inserts
- Website listing and advertisements
- Virtual meet and greets
- Information portal accessible by all consultants
Pokemoto recently announced new franchise agreements in five northeast markets – White Plains, NY and Mamaroneck, NY and a three pack deal in Hampshire County Massachusetts; specifically, the towns of Northampton, Amherst and Hadley. These newly signed agreements will grow the Pokemoto division’s footprint by 28%.
Muscle Maker, Inc. recently added Pokemoto to its healthier-focused lineup of brands increasing Muscle Maker’s top line revenue growth. Since its acquisition, Pokemoto has opened five new Pokemoto locations and plans to continue its expansion efforts through franchising. It is believed that the partnership with Franserve and its network of franchise sales consultants will boost Pokemoto’s efforts to strengthen and expand its traditional and non-traditional franchise pipeline. Pokemoto’s low cost of entry, ease of operations, exclusive territory options and multi-unit discounts make the trendy concept very attractive to prospective franchisees.
“Muscle Maker, Inc. recently acquired Pokemoto and it is our goal to continue our growth of the poke bowl concept through our franchising efforts.” said Mike Roper, CEO of Muscle Maker, Inc. “Partnering with Franserve, an organization focused on connecting franchisors like us with qualified leads puts 600+ franchise sales consultants in our corner along with numerous other resources and benefits which we’re already taking full advantage. We’ve already begun executing against our growth strategy by opening five new locations and signing up five new franchise locations in a short period of time. We recently launched a brand new energetic and interactive website that tells the story of our Millennial and Gen-Z fueled brand and highlights all of the benefits of becoming a Pokemoto franchisee. Our seasoned restaurant and real estate team veterans attended the Atlanta franchise show this past weekend and received great feedback on our multi-unit, growth-oriented concept. Basically, we’re very serious about our planned growth and we believe this partnership will help take our franchising efforts to the next level.” CONTINUED… Read this full release and get more info for GRIL at: https://musclemakergrill.com/investor-relations/press-releases/
Additional recent developments in the restaurant industry include:
“Our third quarter results are a testament to our unparalleled scale and agility,” said McDonald’s President and Chief Executive Officer, Chris Kempczinski. “Our global comparable sales increased 10% over 2019, which was delivered across an omnichannel experience that is focused on meeting the needs of our customers. We continue to execute our strategic growth plan and run great restaurants so that we can drive long-term, sustainable growth for all of our stakeholders.”
José Cil, Chief Executive Officer of Restaurant Brands International Inc. (“RBI”) commented, “Our results this quarter reflect the value of having a diversified business model across three brands and in over 100 countries. Overall, we saw a continued acceleration in system-wide-sales growth relative to 2019, reflecting improvements in the Tim Hortons Canada business as well as strength across each of our brand’s international businesses. Our strong restaurant growth this year and exciting development pipeline keep us on track to return to pre-pandemic unit growth levels this year and well positioned to accelerate in 2022 as we continue on our path to 40,000 restaurants around the world. This quarter, we also took important steps to focus our attention on the most significant opportunities at Burger King U.S. to drive long-term, sustainable growth in the business.”
“We are extremely proud of the progress we are making against our three strategic growth pillars,” President and Chief Executive Officer Todd Penegor said. “We continued to grow our breakfast business, digital sales accelerated, and we meaningfully expanded our global footprint in the third quarter. Global Same-Restaurant sales grew in the high-single digits on a 2-year basis, reinforcing the strength of our brand in a challenging environment. Our focus on executing against our key priorities and our continued partnership with the best franchisees in the business give me confidence that we will achieve our vision of becoming the world’s most thriving and beloved restaurant brand.”
The increase in revenues was primarily driven by higher franchise fees, as well as an increase in advertising funds and franchise royalty revenue, both of which were largely due to higher same-restaurant sales. The increase was partially offset by lower sales at Company-operated restaurants due to the sale of the Company’s New York market during the second quarter of 2021.
Yum! Brands, Inc. (NYSE: YUM) recently reported results for the third-quarter ended September 30, 2021. Worldwide system sales excluding foreign currency translation grew 8%, with 5% same-store sales and 4% unit growth. Third-quarter GAAP EPS was $1.75, an increase of 90% over the prior year quarter. Third-quarter EPS excluding Special Items was $1.22, an increase of 21% over the prior year quarter.
David Gibbs, CEO, said “Our third quarter results, led by record-breaking unit development and sustained momentum in digital sales, are a testament to the strength of our Brands and the unmatched commitment and capability of our best-in-class franchise partners. I am proud that each of our global divisions contributed to delivering 760 net-new units in the quarter. Our 5% same store sales growth for the third quarter, or 3% same-store sales growth on a 2-year basis, demonstrates the resilience of our diversified global business model despite the headwind of the Delta variant in certain key markets.
During the quarter, we advanced our digital capabilities with the acquisition of Dragontail and its AI-based integrated kitchen order management and delivery technologies that strengthens store operations, enhances the customer experience and makes it easier for team members to run a restaurant. As we continue to navigate the short-term uncertainties of the COVID recovery, we are incredibly confident in the ability of our iconic brands and our world-class talent to drive growth and maximize stakeholder value by delivering on our long-term growth algorithm.”
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