Teriyaki Madness Performs Better than Pre-COVID Sales Levels and Far Exceeds Competitor Sales in the Fast Casual Industry!
Throughout the pandemic, the average shop sales for TMAD have outperformed competitor sales in the fast casual and full-service segments. The chart below is based on industry data from Black Box and tracks the change in average shop sales over the last few months. In this chart, Teriyaki Madness is the red line, the average for fast casual restaurants is the blue line, and the average for full-service restaurants is the gray line. You can see that for all but one week, our average sales have consistently outperformed the other segments. And we believe that this trend will continue going strong!
According to Joe Cohen, VP of Finance at Teriaki Madness, ” We’re performing better than our own pre-COVID sales levels both systemwide and on an average same-store-sales basis. Throughout the pandemic, the average shop sales for TMAD have out-performed our competitors in the fast casual and full-service segments (June sales up 16% year over year). We believe that the strong results that we are collectively achieving come from being adaptable and playing offense.”
Throughout the TMAD system, whether it was our teams here in the Denver office or the franchisees in the shops, we didn’t just throw up our hands when the pandemic struck. Instead, we collectively buckled down and got after it. That includes creating and deploying the Pay it Forward boxes, Family Meal Bundles, Curbside and makeshift Drive-Thrus. Franchisees embraced these new tools and made the most of them.
As customers began working remotely during COVID, lunch sales dropped, but dinner sales far exceeded expectations, making up for the drop.
According to Cohen, “Through the pandemic, we’ve outperformed both our competition and, remarkably, our history. While our business has grown, it is shaped a little differently than before which is cause for optimism as when we fill in the holes in our lunch and catering businesses, we can drive sales even higher.”
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