Which Benihana STK locations are operated under a management agreement?

According to Benihana's 2024 Franchise Disclosure Document, Benihana operates seven STK restaurants under management agreements in North America, Europe, and the Middle East. These managed locations are part of Benihana's strategy to expand its brand presence with reduced capital investment, referred to as their "capital light strategy."

In 2022, Benihana opened one managed STK restaurant in London, United Kingdom. Additionally, the company renewed its management agreement with ME London to continue managing the STK restaurant there, although ME London chose not to renew agreements for other services like Radio, Marconi, and in-room dining as of January 1, 2023. In October 2023, Benihana consolidated its STK operations in London to STK Strand and STK Stratford, which led to the closure of operations within the Westminster London Hotel.

For a prospective franchisee, this indicates that Benihana utilizes various operational models, including direct ownership, management agreements, and licensing. The focus on management agreements allows Benihana to leverage its brand and generate management fee income without the substantial capital expenditure required for owned restaurants. This approach may also provide opportunities for franchisees to explore different investment and operational roles within the Benihana system.