New Zealand restaurant idea Mad Group, says it has signed Memorandums of Understanding to enter Japan and the US.
Mad Group runs the Mad Mex Mexican fast service restaurant idea and Ordinary Repair, which specialises in wholesome wraps, salads, smoothies and juices.
A 10-year Memorandum of Understanding (MoU) has been signed with an nameless American associate to launch 30 Ordinary Repair restaurant chains within the US beginning in Los Angeles in 2016. The deal is value over NZ$6 million in franchise royalties over the preliminary time period and could be renewed for an additional 10 years after the preliminary time period expires at a franchise royalty fee of greater than $1 million per yr. The corporate plans to have Ordinary Repair places in at the least 5 totally different US states inside 5 years.
Mad Group has additionally signed a separate MoU with one other as but unidentified companion in Japan, however not but launched additional particulars about plans for that market..
The enlargement of the wholesome consuming ideas follows a worldwide development towards more healthy consuming of high quality recent meals, for which Mad Group is famend. Only recently McDonald’s added kale to its menu to maintain up with altering dietary preferences.
The corporate lately raised fairness in a crowdfunding marketing campaign to develop the Mad Mex enterprise regionally, rolling out each manufacturers round New Zealand and aiding within the gross sales and advertising of worldwide franchise licences for Ordinary Repair.
Ordinary Repair eating places are to date situated in Auckland and Wellington and can doubtless quickly be coming to the South Island as properly.