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Benzinga
Benzinga
Business
Shivani Kumaresan

Muscle Maker's Pokemoto Enters New Jersey Market

  • Muscle Maker Inc (NASDAQ:GRIL) has signed a new Pokemoto franchise agreement for the Hoboken, New Jersey area.
  • The agreement marks the first entry for Pokemoto into the New Jersey market. 
  • The Pokemoto franchise model requires an initial franchise fee of $25,000 per unit when the agreement is signed and provides 6% of net sales as an ongoing monthly royalty rate once each location is opened. 
  • Pokemoto has signed 32 new franchise agreements since November 2021.
  • "Hoboken is a millennial and Gen Z focused community and home to a large population of young professionals," noted Pokemoto CEO Michael Roper.
  • Price Action: GRIL shares are trading higher by 1.35% at $0.49 on the last check Wednesday.
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