Teriyaki Madness has recently reached the 100 franchises milestone creating a lot of validation from the franchise community. Taking Teriyaki Madness beyond 100 franchises is what the Chairman and CEO Michael Haith is aiming for.
The 100-location mark is often one of change. The old adage is “what got you here won’t get you there.” Haith said there will be some tweaks on the way to 500, but no big dramatic leadership changes or a big sale that are common at major milestones like this.
He also added that they have always been focusing on technology, the foundational infrastructure, their team and the processes on their path to expansion.
“I think the value of being able to bring in higher-caliber executives and staff to service the franchisees and work with the vendors and really focus on managing the fundamentals is a real benefit of size,” said Haith.
“Part of being a large organization, we have the capabilities to test this for franchisees. I bet we’re working on a dozen different programs right now,” said Haith. “First and foremost, we want to look at the cost to the franchisee, we’re willing to invest our dollars to find improvements. But if it’s going to cost the franchisee yet another dollar, is it something you want to do? One hundred dollars here and there adds up really fast, but the beauty is I can deal with the supplier and I can say we have 100 shops, that gives us much better negotiating leverage.”
Source: FranchiseTimes
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