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Colorado Companies to Watch: Teriyaki Madness

Denver

ColoradoBiz Staff //July 9, 2024//

Colorado Companies to Watch: Teriyaki Madness

Denver

ColoradoBiz Staff //July 9, 2024//

With the demand for Asian fast food rising, Teriyaki Madness is growing along with it. The fast casual Asian global market size is $593 billion and is expected to grow at a compound annual growth rate of nearly 5% between now and 2028, according to Grandview Research.

The Teriyaki Madness fast-casual franchising business has more than 150 locations in 38 states, and there is still room for franchisees to expand in their markets and for new franchisees to build in new markets. The average sales volume for each franchise is more than $1 million per year.

“Customers want healthier options, and they’re tired of the boring old pizza, burgers and sandwiches,” CEO Michael Haith said.

When Haith purchased Teriyaki Madness, he relocated the headquarters from Las Vegas to Denver because it’s a hotbed of fast casual restaurant headquarters.

“There is a deep pool of talent and resources in this field in Colorado,” said Haith, a Colorado native.

The company started using third-party delivery years before the COVID-19 pandemic, and its revenue soared by over 50% during the epidemic as more people ordered takeout.

The company’s innovation of restaurant technology differentiates it from other brands. It uses artificial intelligence, geo-fencing, digital training and integrated systems.

“We have the unique ability to streamline our business model fast, cheaper and in new ways,” Haith said.