Investing in a franchised Mr. Hibachi restaurant requires a significant commitment and dedication. To be considered as a franchisee, the following qualifications must be met: an entrepreneurial spirit with a strong desire to succeed, demonstrated business experience and acumen, the ability to manage, motivate and train team members, the ability to manage finances, and the willingness to personally devote full time and best efforts to run the day-to-day operations of the restaurant. Additionally, a minimum financial requirement of $2.2M liquidity and $5M net worth must be met.

The total required investment in a Mr. Hibachi restaurant varies depending largely on the franchisee’s real estate arrangements. Although the company has no financial involvement in the real estate, they can provide experienced counseling in site selection and restaurant development. The franchisee will always make the decision on selection, purchase or leasing.

The initial costs required to open a new Mr. Hibachi restaurant include, without limitation, equipment and fixtures, inventory, insurance, working capital, liquor license costs, and other expenses, including a franchise fee payable to the company. Franchisees also pay monthly royalties and advertising fees, which are currently five percent (5%) of gross sales and one percent (1%) of gross sales, respectively, to support brand marketing and advertising expenses. The franchisees are also required to spend a certain amount on local advertising specific to each restaurant.

After you have read all the franchise information and the opportunity to operate a franchised Mr. Hibachi restaurant sounds too good to pass up, call or write Mr. Hibachi for a Franchise Application. Our licensing representative will guide you through every step of your new venture.

Step One: Reach out via our contact page.

Step Two: Submit your financial authorization.

At the same time you return the application, submit a financial disclosure authorization form to your bank or other financial institution.

All licensee applications must be accompanied by verification of available cash and other liquid assets. Please note that this verification must be on the bank’s business letterhead and mailed directly to Mr. Hibachi in Miami. Our evaluation procedure, including a retail credit check and detailed background investigation is completely confidential.

Step Three: Initial interview.

After verification of the information on your application and confirmation of your financial ability to undertake the investment, you will be contacted to meet personally with a Mr. Hibachi representative. At this meeting you will be provided with the company’s Franchise Disclosure Document (FDD) as legally required. In this meeting, your rights and obligations as a franchisee will be discussed in some detail. It is also expected that the franchise prospect will view this meeting as an opportunity to interview our team, asking as many questions as necessary to arrive at a comfort level with the franchisee/franchisor relationship.

Step Four: Do your Homework.

After the Initial Interview, Mr. Hibachi will have reviewed your qualifications to determine if you qualify. Now it is your turn. You can visit our existing restaurants, talk to industry sources, and contact our existing franchises to help you answer any questions you might have. You can obtain location and contact information from the store locator on our website. We cannot begin to tell you how important it is that you also interview our Mr. Hibachi brand team members, and we highly encourage you to do so.

Step Five: Issuance of license.

After completion of Step Four, you may request that a Franchise Agreement be issued to you. This will represent your first financial commitment to the franchise opportunity. The issuance of the Franchise Agreement grants you the right to use the internationally famous Mr. Hibachi® name, logos, and various recognized service marks in the operation of your restaurant, as long as your usage complies with the federal laws and regulations intended to preserve the integrity of registered marks.

What qualifications do we seek in potential franchisees?

The following qualifications, among others, are essential in order to be considered for a franchise to operate a Mr. Hibachi restaurant:

An entrepreneurial spirit and strong desire to succeed. The ability to motivate and train people. The ability to manage finances. The willingness to personally devote full time and best efforts to the day-to-day operation of the restaurant as an on-premises franchisee. The willingness to complete a comprehensive training and evaluation program on a part-time basis in order to become proficient in all aspects of running the restaurant business. Meeting the financial qualifications.

What assets are initially required to build a franchise?

We recommend liquid assets of at least $600,000 per unit.

Does Mr. Hibachi finance franchisees internally?

No. We constantly network with franchisee financing sources around the country to provide you with referrals for the best prospective lenders available, but it is each franchisee’s responsibility to source and qualify for financing on the merits of his or her own financial strength.

What is the availability of securing a site in my area?

The availability of franchises in specific areas will be discussed during your initial interview.

What are the royalty fees, if any, for a Mr. Hibachi restaurant franchise?

A continuing royalty fee of five percent will be charged monthly based on gross sales at your restaurant.

How can I obtain a copy of your franchise agreement?

Our franchise agreement was developed by specialists in franchising and is a valuable document which we distribute only to serious applicants. We will be happy to provide you with a copy of the Franchisee Agreement and our FDD during the first face-to-face meeting.

What are the total costs for building a Mr. Hibachi franchise?

The approximate cost to build a typical freestanding Mr. Hibachi restaurant in a suburban market is $2.2 Million to $2.8 Million. This would be approximately 7,000 square feet with a dining capacity of 16 teppanyaki tables or 128 patrons.

What should my earning expectations be?

Franchise law limits the kind of earnings information we can provide to prospective franchisees. We will provide you with enough information to assist you in completing your own projected profit and loss statements, which will allow you to arrive at a comfort level with earning expectations. You may also obtain information from other franchisees in order to help you in making your investment decision.

What is the licensing fee for a franchise?

The initial fee per license issued is $40,000 per Domestic Franchise Agreement and $50,000 per Franchise Agreement in Central/South America (excluding Mexico) or the Caribbean. The fee covers the issuance of the license and the right to use our intellectual property, as well as helping to defray our costs and expenses in connection with our assistance and supervision in site selection, construction of the building and improvements, opening of the restaurant, training of staff, enforcement and protection of trademarks, and costs incidental to locating sources of supply.