Source: Franchise Times —
Operators expecting a tenant’s market to emerge in the aftermath of the pandemic that would give them a stronger bargaining positioning when it comes to lease renewals and new lease negotiations have had a rude awakening.
“We were thinking there would be some good real estate deals, but we’re not seeing that,” said David Biederman, chief development officer at Teriyaki Madness. The company expects to open about 35 new franchise locations in 2021 and has a strong pipeline ahead for 2022. “We have been very active and have had a lot of new franchisee signings this year. But I don’t think that is necessarily unique,” he said.