As poke’s popularity continues to surge across the United States, Kobito Poke plans to add 300 locations over the next five years.
The Scottsdale, Arizona, U.S.A.-based poke fast-casual concept signed a franchise sales agreement with True Capital Partners, which has committed to sell a minimum of 300 locations in eight states over the next five years.
Kobito executives anticipate that the first 120 restaurants will be in place in the next 24 to 30 months, the company said in a press release.
“We have been searching for a restaurant concept which could be a real success story and we are convinced that Koibito Poke was the absolute best positioned brand to dominate the national space going forward,” True Capital Partners Spokesperson Adam Daniel said.
True Capital’s team was looking for a dining concept that could mitigate the three huge barriers that are “devastating” the restaurant industry: labor shortages, food cost inflation, and rent [cost of location], the company said.
“Koibito provided the perfect solution to all those barriers of entry and so we immediately committed our resources into development and are looking forward to massive success,” Daniel said.
Todd Stottlemyre, a former Major League Baseball pitcher, three-time World Series Champion, and co-founder and CEO of Koibito Poke, said the restaurant concept’s executives spent a year looking for the right development partner.
“Winning in any endeavor is difficult. Who you pick as your teammates will always determine your level of success. In this case, I truly believe this exciting new initiative will be an integral step in building our all-star team,” he said.
The initial eight states in Kobito Poke’s national expansion agreement include: North Carolina, South Carolina, Georgia, Florida, Texas, California, Idaho, and Washington.
Meanwhile, Charleston, South Carolina, U.S.A.-based Foodie Franchises has added BK Lobster Seafood Bar to the company’s portfolio of emerging food franchises.
“The company has been looking to invest into the lobster space since 2019 and BK Lobster Seafood Bar fit the exact business model Foodie Franchises was looking for,” the company said in a press release.
BK operates 11 corporate restaurants and three franchise locations.
“Foodie Franchises’ investment into the company will allow the brand to scale easily in markets where Foodie Franchises already has real estate, distribution and knows how to create quick brand awareness,” the company said.
Photo courtesy of Kobito Poke
