In what geographic locations does Benihana currently own, operate, manage, or license its 63 venues?
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
There is currently one Company-owned STK restaurant, one Company-owned Kona Grill restaurant, and one Company-owned Salt Water Social restaurant under construction in the following cities:
- Owned STK restaurant in Aventura, Florida
- Owned Kona Grill restaurant Tigard, Oregon
- Owned Salt Water Social restaurant in Denver, Colorado
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 63 venues. These venues include 28 STKs and 27 Kona Grills, 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.
In 2023, Benihana expanded its portfolio by opening eight new venues. These included owned STK restaurants in Charlotte, North Carolina; Boston, Massachusetts; and Salt Lake City, Utah. The company also opened owned Kona Grill restaurants in Columbus, Ohio; Riverton, Utah; and Phoenix, Arizona. Furthermore, two Bao Yum venues were established through a licensing agreement with Reef Kitchens, although the licensing agreement with REEF Kitchens has since been terminated.
Benihana plans to continue its expansion, with intentions to add six to eight new venues in 2024. As of March 2024, the company opened an owned STK restaurant in Washington, D.C. There is currently one Company-owned STK restaurant, one Company-owned Kona Grill restaurant, and one Company-owned Salt Water Social restaurant under construction in the following cities: Owned STK restaurant in Aventura, Florida, Owned Kona Grill restaurant Tigard, Oregon, and Owned Salt Water Social restaurant in Denver, Colorado.
Prospective franchisees should note that Benihana's growth strategy involves a mix of owned, licensed, and managed restaurants, allowing for flexibility in different markets. The company's focus on metropolitan areas and strategic site selection is aimed at maximizing long-term success. However, franchisees should conduct thorough due diligence to understand the specific market conditions and competitive landscape in their desired location.