In which countries outside of the United States has Benihana managed or licensed STK restaurants?
Benihana Franchise · 2024 FDDAnswer from 2024 FDD Document
services to certain clients. Our F&B hospitality clients operate global hospitality brands such as the W Hotel, ME Hotels, Hippodrome Casino, and Curio Collection by Hilton.
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We opened our first restaurant in January 2004 in New York, New York. We currently own, operate, manage or license 60 venues including 23 STKs and 24 Kona Grills in major metropolitan cities in North America, Europe and the Middle East and 13 F&B venues in seven hotels and casinos in the United States and Europe. We intend to open thirteen new STK and F&B venues in 2021 and 2022, of which seven are currently open, and three to five Kona Grill locations in 2022. There are currently two Company-owned STK restaurants (San Francisco, CA and Dallas, TX), one Company-owned Kona Grill restaurant (Riverton, UT) and one managed STK restaurant (Stratford, UK) under construction.
Source: Item 22 — CONTRACTS (FDD pages 73–74)
What This Means (2024 FDD)
According to Benihana's 2024 Franchise Disclosure Document, STK restaurants are located in major metropolitan cities in North America, Europe, and the Middle East. In 2021, Benihana opened a licensed STK restaurant within the Los Cabos International Airport in San Jose del Cabo, Mexico. Also in 2021, Benihana opened a managed STK restaurant at The Westminster London hotel in London, United Kingdom. Additionally, in 2022, Benihana opened a managed STK restaurant in London, United Kingdom.
For a prospective franchisee, this indicates that Benihana is expanding its STK brand internationally through both licensing and management agreements. The mention of specific locations like Los Cabos and London suggests that Benihana targets high-traffic areas and major cities for its STK restaurants. This may also reflect a strategy of partnering with established hotels or transportation hubs to leverage existing infrastructure and customer base.
The document also mentions that Benihana aims to continue expanding both domestically and internationally through a mix of owned, licensed, and managed restaurants. This "capital light strategy" suggests that Benihana is open to various business models, which could provide flexibility for franchisees depending on their investment capacity and operational preferences. The goal is to grow the STK brand to 200 restaurants globally, indicating a significant opportunity for expansion in the future.