As of the data provided, what is the total number of venues operated by Benihana?
Benihana Franchise · 2024 FDDAnswer from 2024 FDD Document
We opened our first restaurant in January 2004 in New York, New York. We currently own, operate, manage or license 63 venues including 28 STKs and 27 Kona Grills in major metropolitan cities in North America, Europe and the Middle East and 8 F&B venues in four hotels and casinos in the United States and Europe.
We opened the following eight new venues in 2023:
- Owned STK restaurant in Charlotte, North Carolina
- Owned STK restaurant in Boston, Massachusetts
- Owned STK restaurant in Salt Lake City, Utah
- Owned Kona Grill restaurant in Columbus, Ohio
- Owned Kona Grill restaurant in Riverton, Utah
- Owned Kona Grill restaurant in Phoenix, Arizona
- Two Bao Yum venues through a licensing agreement with Reef Kitchens
Recently the Company exited its licensing agreement with REEF Kitchens and has no venues operating pursuant to that agreement.
We intend to add six to eight new venues in 2024. In March 2024, we opened the following:
● Owned STK restaurant in Washington DC
Source: Item 22 — CONTRACTS (FDD pages 73–74)
What This Means (2024 FDD)
According to Benihana's 2024 Franchise Disclosure Document, the company owns, operates, manages, or licenses a total of 63 venues. These venues include 28 STK locations and 27 Kona Grill locations, situated in major metropolitan cities across North America, Europe, and the Middle East. Additionally, Benihana manages 8 F&B venues within four hotels and casinos located in the United States and Europe.
For a prospective Benihana franchisee, this indicates the current scale and reach of the company's operations. It demonstrates the established presence of the STK and Kona Grill brands in various markets, as well as Benihana's involvement in managing food and beverage services in the hospitality sector. The document also mentions the company's strategic approach to expansion, including plans to add six to eight new venues in 2024.
It is important to note that the document also mentions that Benihana recently exited its licensing agreement with REEF Kitchens, meaning that any venues previously operated under that agreement are no longer included in the total count. This highlights the dynamic nature of Benihana's operations and the potential for changes in its venue portfolio. A potential franchisee should inquire about the distribution of franchised versus company-owned locations to understand the company's franchising strategy.