As of December 31, 2021, how many licensed STK restaurants did Benihana have?
Benihana Franchise · 2024 FDDAnswer from 2024 FDD Document
We operate eleven owned, six managed and six licensed STK restaurants in North America, Europe and the Middle East.
In 2021, we opened an owned STK restaurant in Bellevue, Washington, two managed STK restaurants located in Scottsdale, Arizona and London, United Kingdom and one licensed STK restaurant located at the Los Cabos International Airport in San Jose del Cabo, Mexico.
We expect to continue expanding our operations domestically and internationally primarily through a mix of owned, licensed and managed restaurants using a disciplined and targeted site selection process. We refer to this as our "capital light strategy" because it requires significantly less capital than expansion through owned restaurants only.
Source: Item 22 — CONTRACTS (FDD pages 73–74)
What This Means (2024 FDD)
According to Benihana's 2024 Franchise Disclosure Document, as of December 31, 2021, Benihana operated six licensed STK restaurants in North America, Europe, and the Middle East. This information is crucial for potential franchisees to understand the existing operational structure and geographic distribution of licensed STK restaurants under the Benihana brand.
The document also mentions that in 2021, Benihana opened one licensed STK restaurant located at the Los Cabos International Airport in San Jose del Cabo, Mexico. This indicates Benihana's ongoing efforts to expand its STK brand through licensing agreements, which could present opportunities for franchisees looking to operate in diverse locations, including international airports.
Furthermore, the FDD highlights that Benihana aims to continue expanding its operations domestically and internationally through a mix of owned, licensed, and managed restaurants. This "capital light strategy" suggests that Benihana is actively seeking licensing partners to grow its STK brand, potentially reducing the capital investment required from the company itself. For prospective franchisees, this could mean more opportunities to enter the Benihana system with potentially lower initial investment costs compared to opening a company-owned restaurant.