How many Benihana outlets were located in Michigan at the end of 2024?
Benihana Franchise · 2024 FDDAnswer from 2024 FDD Document
TABLE NO. 3 STATUS OF DOMESTIC FRANCHISED OUTLETS FOR FISCAL YEARS 2022-2024**
| STATE | YEAR | OUTLETS AT START OF YEAR | OUTLETS OPENED | TERMINATIONS | NON- RENEWALS | REACQUIRED BY FRANCHISOR | CEASED OPERATIONS- OTHER REASONS | OUTLETS AT END OF THE YEAR |
|---|---|---|---|---|---|---|---|---|
| Arkansas | 2022 | 1 | 0 | 0 | 0 | 0 | 0 | 1 |
| 2023 | 1 | 0 | 0 | 0 | 0 | 0 |
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION LIST OF OUTLETS (FDD pages 67–72)
What This Means (2024 FDD)
According to Benihana's 2024 Franchise Disclosure Document, there was one franchised Benihana outlet in Michigan at the end of the 2024 fiscal year. However, the FDD also notes that this particular outlet closed after the end of the fiscal year 2024, but before the issuance of the current disclosure document. This detail is important for prospective franchisees to understand the recent changes in the franchise network.
Specifically, the table provided in Item 20 of the FDD details the changes in outlet numbers over the past three fiscal years, from 2022 to 2024. For Michigan, the table shows the progression from zero outlets at the start of 2022, to one outlet opening in 2023, and then remaining at one outlet at the end of 2024. The asterisk next to the '1' indicates the closure mentioned earlier.
This information is valuable for potential Benihana franchisees as it provides a clear picture of the brand's presence and recent activity in Michigan. While there was a franchise location, its closure shortly after the fiscal year's end could signal market challenges or other factors that prospective franchisees should investigate further. It is advisable to inquire with Benihana about the reasons for the closure and the franchisor's plans for future development in Michigan.