How many total venues does Benihana operate under the STK brand?
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.
Source: Item 22 — CONTRACTS (FDD pages 73–74)
What This Means (2024 FDD)
According to Benihana's 2024 Franchise Disclosure Document, the company operates a total of 63 venues, which includes 28 STK locations. These STK venues consist of a mix of owned, operated, managed, and licensed locations across major metropolitan cities in North America, Europe, and the Middle East.
For a prospective franchisee, this indicates that the STK brand has a significant presence with multiple operational models. Benihana utilizes company-owned, managed, and licensed locations to expand the STK brand. This suggests that franchisees may have opportunities to operate under different arrangements, which could affect their initial investment and operational control.
The FDD specifies that locations with both an STK restaurant and an STK Rooftop are considered a single venue location. This is relevant for financial reporting and assessing market presence. The company opened three new STK restaurants in 2023 and one in March 2024, indicating continued growth and investment in the STK brand. Benihana also plans to add six to eight new venues in 2024, showing a commitment to further expansion.
Benihana aims to grow the STK brand to 200 restaurants over the foreseeable future and expects to open five to six STKs annually. This expansion strategy suggests that Benihana is actively seeking new locations and franchisees to grow the STK brand, which could present opportunities for prospective franchisees in various markets.