Oakville, Ontario-based Teriyaki Experience, an international Asian-inspired quick-serve concept with more than 125 restaurants, has announced it has entered into two area development agreements which will result in 57 new franchised locations throughout Houston and Puerto Rico.
The development schedule calls for a minimum of 45 locations over the next 10 years throughout Houston and its surrounding areas, and a minimum of 12 locations throughout Puerto Rico over the next five years. This is part of a nationwide expansion plan which calls for 600 locations across the nation in the next five to seven years.
B&G Fit Ventures, a family-owned corporation based out of Morgan City, La., will be responsible for developing the Houston marketplace. The franchisee is affiliated by common ownership with several additional corporations involved in restaurant related activities, the largest being B&G Food Enterprises LLC. Together the other affiliated companies own and operate directly more than 50 Taco Bell and KFC restaurants in Louisiana, Mississippi and Texas and have been operating restaurants for more than 28 years. The first Teriyaki Experience unit is slated to open within six to eight months in Houston.
Aprendo Strada Inc. and principal Rafael Perez Zayas will be responsible for developing the Puerto Rico market. The group has extensive franchising experience and is the area director for Quiznos in Puerto Rico with 36 franchised locations on the island. The company's first Teriyaki Experience location is slated to open within six to 12 months, depending on site availability and approval.
"The current economic environment presents an excellent growth opportunity for us, as consumers continue to seek more inexpensive but healthy dining options," said Nick Veloce, president of Teriyaki Experience. "These agreements position our brand to continue to be the dominate player in the hottest and fastest-growing category in the food industry."
Teriyaki Experience is re-defining the QSR dining segment in the world with its nutritious alternative to traditional fast food, according to a news release. All dishes are cooked with water, not oil, which minimizes the calorie and fat content to fit a health-conscious lifestyle. Using the teppanyaki griddle to prepare meals fast and fresh, sizzling meals are prepared in less than two minutes and right before customers' eyes. The menu features a selection of rice and noodle meals, wraps, salads and sushi. Most menu items have less than 10 grams of fat and contain less than 600 calories.
The Asian QSR segment is largely untapped in the United States, with Panda Express the leading limited-service category. Panda Express is a hybrid fast casual/QSR with more than $1 billion in annual sales and more than 1,200 stores nationwide.
