Food & Beverage

Teriyaki Madness Franchise

A fast-casual restaurant chain serving Japanese-style teriyaki dishes with grilled meats and proprietary sauces, made to order in approved retail shops. Teriyaki Madness's predecessor began offering franchises in June 2005; M.H. Enterprises, Inc. acquired the brand's assets in a January 2016 transaction, and the current franchisor entity, M. H. Franchise Company Inc., a Colorado corporation led by CEO Michael Haith, has offered franchises since March 2016. Franchised unit count grew every year of the FDD's three-year window, accelerating from +16 in 2023 to +41 in 2025.

Opening more locationsFounded 2005HQ: Denver, CO

Every franchisor has to file a document called an FDD before they can legally sell you a franchise. Buried in it are the two things a sales rep won't volunteer: what you'll actually spend to open, and whether existing locations are opening or closing. That's what's below, pulled straight from Teriyaki Madness's own filing.

What it costs to open

From the filing's investment breakdown -- not a "starting at" number a sales rep quoted you.

Franchise fee

$45,000

Total to open

$392,667–$1,121,405

Ongoing royalty

6% of gross sales

What you'd actually spend, over time

The upfront cost is only part of it. Plug in what you expect a location to bring in, and see the real total once royalties over a few years are added on top.

Your estimated annual revenue

Defaulted to a rough food & beverage industry average, not a figure from Teriyaki Madness's own FDD -- change it to your own estimate.

Years of ownership

Total cost of ownership over 5 years

$692,667 – $1,421,405

Startup investment

$392,667–$1,121,405

Royalty per year (6%)

$60,000

Total royalty, 5yr

$300,000

When would you break even?

Revenue alone doesn't tell you this -- it depends on what's left after rent, labor, and everything else. Teriyaki Madness's FDD doesn't disclose a reliable profit figure (most franchisors don't), so this starts from a typical food & beverage profit margin (~8%) and applies it to the revenue you entered above -- adjust the percentage to your own realistic estimate.

Estimated profit margin (% of revenue)

%≈ $80,000/year

Defaulted to a general food & beverage industry benchmark, not a figure from Teriyaki Madness's own filing -- this is a starting point to adjust, not a promise about what franchisees actually make.

At that profit, you'd break even in about

4.9–14.0 years

Weigh that payback period against what you already know: Teriyaki Madness is opening more locations. A long payback period on a shrinking brand is a very different bet than the same payback period on a growing one.

Is Teriyaki Madness actually growing?

Franchisors have to report, every year, how many locations opened, closed, or changed hands. Most franchise sites never show you this. Here it is:

Locations opened vs. closed, by year

Growing

From Item 20 of Teriyaki Madness's FDD, the section franchisors use to disclose real openings and closings.

+16

+18

+41

202320242025

Year	Franchised units, start	Franchised units, end	Net change
2023	122	138	+16
2024	138	156	+18
2025	156	197	+41

Most recent year (2025): gained 41 franchised units, ending the year at 197 total.

What you're actually signing up for

The cost and growth numbers above are only part of the picture. These three FDD items are the ones a prospective franchisee tends to weigh most heavily once they're past the sticker price.

Training & ongoing support (Item 11)

Item 11: a required ~31-hour, four-day Initial Training Program held in Denver, Colorado covering opening process, guest experience, hiring/retention and supply chain, plus real estate and design/construction assistance before opening.

Territory protection (Item 12)

Item 12: a real Area of Protection -- generally a population of about 25,000 -- within which Teriyaki Madness won't establish or franchise another location, though it reserves broad rights to operate at airports, stadiums, college campuses and similar captive-audience venues, and franchisees must let other Teriyaki Shops perform catering/delivery inside their Area of Protection without compensation.

Renewal & termination terms (Item 17)

Item 17: 10-year initial term, with two additional 5-year renewal periods available if the franchisee meets then-current conditions, including a full remodel to then-current standards.

How Teriyaki Madness compares to other Food & Beverage franchises

Across the 50 food & beverage franchises we've hand-verified so far, the typical range to open runs $882,585–$2,162,912, with royalties averaging around 5.6% of gross sales (based on the 46 of them that charge a flat %-of-revenue royalty).

Dave's Hot Chicken

$617,800–$2,170,000 · 6% royalty

Slim Chickens

$1,188,900–$4,944,000 · 5% royalty

Ziggi's Coffee

$315,830–$2,093,361 · 6% royalty

Crumbl

$848,566–$1,472,533 · 8% royalty

Little Caesars

$376,500–$1,769,200 · 6% royalty

Jamba

$480,850–$941,300 · 6% royalty

Tropical Smoothie Cafe

$300,000–$720,500 · 6% royalty

Playa Bowls

$188,675–$636,458 · 6% royalty

Kona Ice

$114,730–$228,601 · non-%-of-revenue royalty

Firehouse Subs

$166,671–$950,351 · 6% royalty

Wingstop

$310,400–$1,048,500 · 6% royalty

Jersey Mike's Subs

$436,176–$1,162,228 · 6.5% royalty

Dunkin'

$532,400–$1,832,500 · 5.9% royalty

Popeyes Louisiana Kitchen

$1,222,045–$3,923,245 · 5% royalty

Del Taco

$1,461,200–$3,313,500 · 5% royalty

Blaze Pizza

$757,000–$1,297,100 · 5% royalty

Church's Texas Chicken

$1,202,400–$1,886,300 · 5% royalty

MOD Pizza

$924,732–$1,220,633 · 5% royalty

Twin Peaks

$2,959,000–$5,734,000 · 5% royalty

McDonald's

$1,470,500–$2,642,000 · 5% royalty

Subway

$263,000–$630,000 · 8% royalty

Taco Bell

$1,859,750–$4,312,200 · 5.5% royalty

Domino's Pizza

$231,450–$743,500 · 5.5% royalty

KFC

$2,107,575–$4,155,000 · 5% royalty

Burger King

$2,039,200–$4,730,600 · 4.5% royalty

Chick-fil-A

$317,521–$3,463,155 · non-%-of-revenue royalty

Penn Station

$507,500–$858,750 · non-%-of-revenue royalty

Nekter Juice Bar

$243,155–$647,160 · 6% royalty

Jimmy John's

$366,200–$733,500 · 6% royalty

Sonic Drive-In

$1,485,200–$2,522,900 · 5% royalty

Papa John's

$281,485–$890,267 · 5% royalty

Hungry Howie's Pizza & Subs

$238,982–$697,322 · 5.5% royalty

Jack in the Box

$1,909,500–$4,041,500 · 5% royalty

Wendy's

$1,523,957–$2,992,000 · 4% royalty

Marco's Pizza

$286,477–$811,186 · 5.5% royalty

Pizza Hut

$846,000–$2,130,000 · 6% royalty

Chicken Salad Chick

$777,000–$998,500 · 5% royalty

Cold Stone Creamery

$390,675–$680,775 · 6% royalty

Scooter's Coffee

$1,163,650–$1,345,750 · 6% royalty

Nothing Bundt Cakes

$475,200–$994,100 · 6% royalty

Five Guys

$977,850–$1,375,750 · 6% royalty

Tim Hortons

$427,500–$3,312,500 · 6% royalty

7 Brew

$940,500–$2,283,500 · non-%-of-revenue royalty

Swig

$608,400–$1,718,000 · 7% royalty

Culver's

$3,406,350–$10,294,100 · 4% royalty

Dairy Queen

$1,516,200–$2,543,050 · 4% royalty

Paris Baguette

$727,515–$1,860,550 · 5% royalty

Jollibee

$1,614,568–$4,589,057 · 5% royalty

Smoothie King

$329,850–$683,215 · 6% royalty

Keep going

Teriyaki Madness and Cold Stone Creamery are both food & beverage franchises; Cold Stone Creamery's total investment starts about $1,992 lower than Teriyaki Madness's. Cold Stone Creamery Franchise
Teriyaki Madness and Little Caesars are both food & beverage franchises; Little Caesars's total investment starts about $16,167 lower than Teriyaki Madness's. Little Caesars Franchise

Where this came from: California DFPI Registration Renewal, dfpi id 366625, App ID APP00004430, filed 3/18/2026, effective 6/10/2026. Item 5: the Initial Franchise Fee is $45,000 for a Single Franchise (one restaurant) -- the automated parser instead picked up the $99,000 fee for a 3-restaurant Standard/Development Agreement package, not the single-unit fee used here. A separate $27,500 Shop Opening Assistance Fee is paid to an affiliate. Item 6: royalty is 6% of Net Sales, plus a 4% Marketing Fund Contribution. Item 7 Total, Table A (Single Franchise): $392,667-$1,121,405; a separate Table B total for the 3-shop Development Agreement package is not used here. Item 20 Table No. 1 confirmed. You can pull the same filing yourself from the California DFPI's public franchise search. Filed 2026-06-10. None of this is investment advice -- get the franchisor's current FDD and talk to a real attorney or accountant before you sign anything.

If you see a different unit count elsewhere: franchisors only have to refile their FDD annually, so the numbers here can run 6–18 months behind a franchisor's own real-time marketing claims -- which often aren't independently verified, and sometimes count signed-but-not-yet-open locations. A gap isn't necessarily an error on either side; it's two different snapshots in time from two different sources.