Pokemoto has linked up with an accredited lending source – FranFund to help franchisees Securing Funding for their company Pokemoto
League City, Texas, May 05, 2022 (GLOBE NEWSWIRE) — Muscle Maker, Inc. (Nasdaq: GRILL), the parent company of Muscle Maker Grill, Pokemoto Hawaiian Poke and SuperFit Foods restaurants, today announced that its Pokemoto division has partnered with FranFund, an accredited lending company to help current and potential franchisees obtain financing to build Pokemoto Hawaiian restaurants across the country.
FranFund is a one-stop financing solution that was the first to offer multiple financing options under one roof in the franchise space. Services include financing strategy development, 401(k) business financing and business loans. Loans include SBA and conventional loans. Their management and lending teams are made up of franchise and small business veterans and bankers who are dedicated to helping franchisees get the best loan available. FranFund provides unlimited consultations to review all lending options and offers FranScore, a business loan pre-approval tool designed to access credit profiles from a lender’s perspective.
The Pokemoto franchise model requires $25,000 per unit for initial franchise fees, when the deal is signed, while also providing 6% of net sales as an ongoing monthly royalty rate once each location is open. The Company authorizes, in certain cases, reduced rates for multi-unit or special contracts.
Pokemoto recently announced the sale of five units in Rhode Island, bringing its total franchise deals to 37 since November. Pokemoto currently has restaurants under construction or in lease negotiations in Florida, New York, Pennsylvania, Connecticut, Rhode Island, Mississippi and Massachusetts with franchise training scheduled for May and openings expected shortly thereafter.
“Securing a financing solution for our franchisees has been on our radar since we focused on our franchise efforts as part of the company’s growth strategy and we are confident that we have partnered with the good institution to check that box,” Michael said. Roper, CEO of Pokemoto. “Investing in a business is a big step forward and we want our franchisees to feel confident and know all of their loan options. We believe adding FranFund to our toolkit strengthens our available resources with the goal of helping Pokemoto sign more deals. With branches and franchises opening in Florida, New York, Pennsylvania and Massachusetts in the coming months, we know our real estate sales and development and franchise teams will be busy, and we believe this new loan service will be attractive to new franchisees and help existing franchisees expand their Pokemoto portfolios.
For more information about FranFund, visit www.franfund.com
About MuscleMaker, Inc.
Muscle Maker, Inc. is the parent company of “healthier for you” brands that bring high-quality healthy food options to consumers in traditional and non-traditional settings such as military bases, universities, ghost kitchens, delivery and ready-to-use products. meal preparation options. Brands include Muscle Maker Grill restaurants, Pokemoto Hawaiian Poke and SuperFit Foods meal prep. Our menus highlight healthier versions of traditional and non-traditional dishes and feature grass-fed steak, lean turkey, chicken breast, Ahi tuna, salmon, shrimp, tofu and herbal options. For more information about Muscle Maker, Inc., visit www.musclemakergrill.comfor more information about Pokemoto visit pokemoto.com or for more information about SuperFit Foods, visit www.superfitfoods.com.
Pokemoto (pokemoto.com) a Hawaiian Poke Bowl concept known for its modern culinary twist on a traditional Hawaiian classic has locations open in Connecticut, Massachusetts, Florida, Maryland and Virginia with future locations coming to Rhode Island, New York, Massachusetts, Connecticut, Florida, New Jersey, Pennsylvania, and Mississippi. Pokemoto delivers contemporary flavors with fresh, delicious ingredients that appeal to foodies, health enthusiasts, and sushi lovers everywhere. Guests can choose from a list of signature bowls or be daring and create their own unique combination of a base, various proteins and toppings and nine different sauces. Vegetarian options are available and the bowl combinations are virtually limitless. Colorful dishes and chic, modern dining rooms provide an uplifting dining experience for guests of all ages. Customers can dine in-store or order online through third-party delivery apps for contactless delivery.
FranFund designs flexible, all-in-one financing plans that fit perfectly no matter how quickly your franchise or small business grows. Our most popular financing programs are SBA loans and 401(k) business financing, which allow you to use qualified retirement savings tax-free and without penalty. By using our franchise-specific pre-qualification tool and cultivating an extensive network of franchise and small business friendly lenders, FranFund pre-approved clients have a 99% loan approval rate.
This press release may contain “forward-looking statements” pursuant to the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. To the extent that the information presented in this press release addresses financial projections, information or expectations regarding our business plans, results of operations, products or markets, or otherwise makes statements about future events, such statements are forward-looking. These forward-looking statements can be identified by the use of words such as “should”, “may”, “intend”, “anticipate”, “believe”, “estimate”, “project”, “expect”, “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 these forward-looking statements. You are urged to carefully review and consider all cautionary and other information, including statements made under “Risk Factors” and elsewhere in our filings 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. assumes no obligation to update forward-looking statements except as required by law.
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