The Bay Area's culinary map is about to get a hefty sprinkle of Japanese-steakhouse charm, as The One Group Hospitality has announced an ambitious plan to set up 10 new Benihana spots around our beloved region. Brought to the table by the group that last year snagged Benihana for a cool $365 million, this expansion is tagged as the company's grandest foray into asset-light agreements, according to a report by The ONE Group Hospitality.
The ONE Group CEO Emanuel "Manny" Hilario shed some light on the deal, revealing that it includes three franchises, two joint ventures, and five Benihana Express licenses that promise a quicker, more casual dining experience. Meanwhile, the joint-venture properties are expected to start welcoming customers in 2026, with the full deck of eateries slated to be up and running by the close of the following seven-year stretch. The SF Chronicle noted in their report that the company did not spill any specifics on the locations of these establishments.
Revving up the growth engine, Hilario's statement, obtained by the San Francisco Chronicle, broadcast that "These fourth quarter developments represent significant progress across our strategic priorities," and boasted about the pumped demand for the Benihana brand throughout the Bay Area.
The sparkle of this ambitious expansion reflects off the polished floors of the chain's new San Mateo location, which, having opened just this past March, not only boasts the title of the 'strongest opening in the brand’s 60-year history' but is also the muse for the upcoming restaurants. The blueprint brags more hibachi tables, a buffed-up bar area, and takeout-traffic control, eventually aiming to rake in about $8 million in annual sales per spot. On top of that, with margins that could hover around the enviable 'mid-20% range,' it's clear the chain is chopping towards a fatter bottom line.
Benihana aficionados might already recognize the brand's presence in the Bay Area with existing locations in hubs like San Francisco and Burlingame. The addition of Benihana Express locations, however, reduces the hibachi heft for a quick-service version of the experience, perfect for the urban dine-and-dash crowd.
