Mai or Genji Franchise Cost, Revenue & Review 2026
- Investment
- $17K – $76K
- Disclosed sales
- not disclosed
- SBA charge-off
- Not SBA-matched
Data from FDD filing
Analysis by FranchiseVerdict Research · Methodology
Mai and Genji are grab-and-go Pan-Asian food brands from Hana Group, serving made-fresh sushi, poke, and Asian dishes, usually from counters inside supermarkets and food halls. Franchisees operate an in-store station preparing sushi and bowls to order.
FranchiseVerdict summary · 2026
A Mai or Genji franchise requires a total initial investment of $17K – $76K, including a $4K – $5K franchise fee. This franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. FranchiseVerdict grade: B (Above average), an editorial assessment, not investment advice. Run a live ROI scan →
Sources, dates and evidence
FDD issued: · Data extracted: · Last cited check: · Staleness risk: low - issued within the last 12 months
Evidence: strong✓ Investment (Item 7)✓ Item 19 status✓ Units and owners (Item 20)✗ SBA loan coverage✓ Litigation (Item 3)✓ Financial statements (Item 21)✓ Franchisor identityhow this is scored3 of 4 headline figures on this page cite a page of the filing; the rest are marked “Not cited” beside the figure.
Overview
- Investment
- $17K – $76K
- 0th pct Service Resta…
- Avg gross sales
- N/A
- Royalty
- Set by a formula
- Units
- 362
- 36th pct Service Resta…
- SBA charge-off
- N/A
Quick verdict · Full-Service Restaurants · color = vs category peers
Green = favorable by >10% vs Full-Service Restaurants median · No shading = within ±10% · Red = unfavorable by >10% · Source: FDD filings + SBA 7(a)
Data from public FDD filings and SBA records. Not financial advice. Methodology
Bottom line
- COSTTotal investment $17K – $76K including a $4K franchise fee.
- RETURNSThis franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that.
- RISKVerdict B (Above average), verdict score 59/100 (higher is better).
- GROWTHPositive: net +10 franchised outlets in the latest year (20 opened, 10 closed) (Item 20).
- GROWTHSystem growing at 84.6% CAGR over 3 years with 362 total units. Strong expansion trajectory.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Hana Group Franchising, LLC
- Parent company
- Hana Group US, LLC
- FDD Item 1, page 9 of the 2025 FDD
- CEO title
- Interim President & Interim CEO
- Eduardo Romero
- Incorporated in
- DE
- HQ
- 6565 N. MacArthur Blvd. #330, Irving, Texas 75039
- Auditor
- Citrin Cooperman & Company, LLP
- Audited financials
- Franchisor revenue
- $5.9M
- vs $5.0M prior year
Overview
About
- CEO
- Eduardo Romero
- Headquarters
- TX
- Founded
- 2015
- FDD year
- 2025
- States available
- 37
Can you afford it, and what does the money buy?
Entry cost runs 93% below the typical full-service restaurants franchise.
Source: FDD 2025 · Items 5–7
Full Item 7 breakdown13 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Franchise Feenot refundable | $4K | $5K | |
| Computer, Office Supplies, Equipment and Fixtures | $2K | $25K | |
| Advertising, Marketing and Promotional Materials and Signage | $500 | $2K | |
| Opening Inventory and Smallwaresnot refundable | $1K | $12K | |
| Initial Training Feesnot refundable | $2K | $6K | |
| ServSafe Training | $100 | $1K | |
| Pre-opening Travel Expense | $0 | $3K | |
| Insurance Deposits and Premiums | $500 | $2K | |
| Pre-opening Labor | $1K | $4K | |
| Professional Fees | $3K | $3K | |
| Business Permits and Licenses | $350 | $2K | |
| Credit and Criminal Background Check | $120 | $200 | |
| Additional funds - 3 Months | $4K | $12K | |
| Total initial investment | $17K | $76K |
Line items extracted from FDD Item 7. Ranges reflect the franchisor's stated low and high per line. Total is the sum of line-item lows / highs — actual costs may fall outside this range depending on market and build-out scope.
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $17K – $76K
- Top 40% of category vs category
- Liquid capital req'd
- $4K – $12K
- Top 40% of category vs category
- Franchise fee
- $4K – $5K
- Top 40% of category vs category
- Royalty
- Franchisor Revenue Share: 0%–15% of Gross Sales (Total Re…
- Ad fund
- 0.0%
- typical 3–5%
- Total fee load
- 1.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Marketing / ad fund | 0.0% |
| Technology fee | $250 |
| Training fee | $2K |
| Transfer fee | $2K |
| Renewal fee | $3K |
| Inventory (initial) | $1K – $12K |
| Total fee load | 1.0% of rev |
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
Mai or Genji makes no financial performance representation in Item 19 of its FDD - a voluntary item under the FTC Franchise Rule - so no unit revenue figures are disclosed. The return models need a revenue figure to start from, and the operating costs that turn gross sales into a profit are in no FDD. Enter your own and the calculator runs on your assumptions — nothing here is modelled until you do.
Returns model · single-unit ROIC
What would one Mai or Genji unit return on the cash you put in?
Illustrative category typicals — not sourced to any filing, survey or sample. Replace them with figures from franchisee validation calls before you rely on the output.
Unlevered ROIC · per unit
Your modelled return on total invested capital, before any debt financing.
—
An FDD discloses gross sales, not profit. We hold no sourced figure for annual revenue, royalty rate, COGS, labour, rent / occupancy and other operating costs, and will not substitute an assumed one. Enter your own and the model runs on your assumptions.
These models are for research and scenario planning only. Not investment advice. Actual results depend on your specific location, management, and market conditions. Consult a franchise attorney and accountant before signing any franchise agreement.
Item 19 · Source: 2025 FDD
Financial Performance
No financial performance representation
This franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that.
Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Operator outlook
What the numbers say
Data-driven interpretation of this brand's financial disclosures, fee structure, and system trajectory.
Fee burden
Total ongoing fee load of 1.0% — below the Full-Service Restaurants median of 7.0%.
Disclosure
This franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Operator retention
System expanding at 84.6% CAGR over 3 years across 362 units — operators are staying and new ones are joining.
Source: FDD Item 19 financial performance representations and publicly filed FDD data. Past performance is not indicative of future results. Verify all figures with the franchisor and current franchisees before making any investment decision.
vs Full-Service Restaurants medians
How Mai or Genji Compares
Category median of published Full-Service Restaurants brands that report the figure; the middle half spans the 25th to 75th percentile and n counts the brands behind it. Medians are used because a few very large systems pull an average far from the typical brand. Revenue is disclosed gross sales, not profit.
Is the system healthy?
Source: FDD 2025 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 362
- Opened
- 20
- Last reporting year
- Closed
- 10
- Terminated
- 2
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- 2.8%
- Company-owned
- 194
- Corporate units in the system
- % franchised
- 46%
- vs corporate-owned
- Net growth (3-yr)
- +84.6%
- Net unit change over 3 years
- 3-yr CAGR
- +84.6%
- Compounded over last 3 years
Last fiscal year · Item 20 exits and transfers
- Terminated
- 2
- Not renewed
- 0
- Reacquired
- 2
- Franchisor bought back
- Transfer rate
- 6.5%
- Owners selling to other franchisees
- Continuity rate
- 94.4%
- Units that stayed open
- Termination rate
- 1.2%
- Franchisor-initiated terminations
- Ceased ops
- 3.6%
- Units that stopped operating
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 38 states with active franchisees
The Territory Map
Derived from franchisee contact records. Shows states with at least one current operator. Not where the franchisor is registered to sell new units (that data is re-extracting in a future refresh).
States derived from franchisee contact records (FDD Item 20). Shows states with at least one current operator on file. Full state registration data (Item 12) will appear on a future FDD refresh.
Where the owners are · Item 20 owner list
175 current owners across 38 states.
- MN 28
- FL 21
- IL 13
- MI 13
- TX 10
- CA 8
- IN 7
- UT 7
- AL 5
- OH 5
- HI 4
- NE 4
- +26 more states
Counts only, from the list the franchisor prints in Item 20; 3 entries carry no state. Names and phone numbers are for your own due diligence and are not shown here.
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
No SBA loan data available for this brand.
What could kill this investment?
Source: SBA 7(a) FOIA · FDD Items 3, 21
Risk analysis
FranchiseVerdict rating + FDD Items 3, 4, 8, 16, 21
Risk & Legal
This Asian cuisine franchise shows caution-level risk due to missing financial disclosures, unprotected territories, modest growth, and unclear royalty structures that prevent proper due diligence.
Litigation (Item 3)
No litigation required to be disclosed in Item 3.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Citrin Cooperman & Company, LLP
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
FY ended June 30, 2025 total revenues of $5,917,537: franchise fees $196,000, royalties $5,501,225, support fees $62,849, other fees $157,463.
Supplier relationship · Items 8 & 16
- Franchisor sells you products: Yes
- Kickbacks from required suppliers: Yes
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: No
Score breakdown · what drove the 59 / 100 verdict
- 01MEDNo financial performance data (Item 19) disclosed — impossible to validate ROI claims or break-even timelines
- 02MINORUnprotected territory creates direct competition risk; multiple franchisees can operate in same area
- 03MINORSlow unit growth (6.3% YoY) suggests market saturation or franchisee dissatisfaction
- 04MINORVariable royalty structure (0-15%) lacks transparency — unclear what determines rate for each franchisee
- 05MINORWide investment range ($17.3K-$75.7K) indicates inconsistent unit economics or hidden costs
- 06MINORLow franchise fee ($5K) may indicate weak brand support or underfunded franchisor operations
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 1.0% of sales (royalty + ad fund), before rent and labor.
Source: FDD 2025 · Items 11, 12, 17
FDD Items 12, 15, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 3 years |
|---|---|
| Renewal term | 3 years |
| Allowed renewalsℹ | 1 |
| Territory type | No territory protection |
| Protected territory | No |
| Exclusive territoryℹ | No |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Required |
| Non-compete (years)ℹ | 2 years |
| Non-compete (miles)ℹ | 10 mi |
| Right of first refusalℹ | Yes |
| RoFR response window | 30 days |
| Transfer requires consent | Yes |
| Termination notice | 10 days |
| Mandatory arbitration | Yes |
| Arbitration location | Dallas County, Texas |
| Jury trial waiver | Yes |
| Governing law | TX |
| Litigation count | 0 |
View Item 3 litigation summary
No litigation required to be disclosed in Item 3.
Items 10, 11
Training & Operations
- Classroom training
- 16 hrs
- On-the-job training
- 30 hrs
- Training location
- Franchisor's principal office in Irving, Texas, or at the location of the franchised business (Unit Training)
- Ongoing training
- Required
- Field support
- 36 hrs/yr
- On-site visits per year
- Site selection
- Franchisor
- Franchisor financing
- Offered
- Item 10
- POS system
- Adoria
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Adoria
Item 20 · call current owners
Franchisee Contacts
178 owners to call
Name · phone · city · state. Extracted from FDD Item 20
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Mai or Genji franchise?
The total investment to open a Mai or Genji franchise ranges from $17K – $76K, with an initial franchise fee of $4K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Mai or Genji franchise owners earn?
Mai or Genji makes no financial performance representation in Item 19 of its FDD - a voluntary item under the FTC Franchise Rule - so no unit revenue figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Who owns Mai or Genji?
Mai or Genji is franchised by Hana Group Franchising, LLC. Its parent company is Hana Group US, LLC. Source: FDD Item 1, 2025 filing.
What is Item 19 in the Mai or Genji FDD?
The FDD section where a franchisor may disclose financial performance of its outlets. Disclosure is optional and formats vary; figures are typically gross sales, which is revenue before expenses, not profit. FranchiseVerdict extracts these figures directly from the Mai or Genji FDD and qualifies whose outlets they describe.
What is Mai or Genji's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Mai or Genji (fewer than 10 loans on file). Charge-off rates are one way to gauge franchise risk, but not all franchise loans go through the SBA program. We recommend reviewing turnover and closure data in the FDD and speaking with current franchisees.
How many Mai or Genji franchise locations are there?
As of their most recent FDD filing, Mai or Genji has 362 total units in the United States, including 168 franchised units and 194 company-owned units. 20 new units were opened in the latest reporting year.
Is Mai or Genji a good franchise to buy?
FranchiseVerdict rates Mai or Genji as a B-grade franchise with a verdict score of 59 out of 100 (higher is better). The grade is a deterministic score built from six weighted dimensions — financial health, unit economics, unit growth, scale, legal, and transparency — then calibrated against SBA loan charge-off rates and FDD age. Transparency is one of the six, so a filing that discloses less scores lower on that dimension than one that discloses more. Our rating is based solely on publicly available FDD and government data; we recommend speaking with current franchisees before making any investment decision. This is not investment advice.
Data sourced from public FDD filings and SBA 7(a) FOIA records. Not financial advice.
For franchisors
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Data extracted from public FDD filings and SBA 7(a) loan disclosures (FOIA). This information is provided for research purposes only and does not constitute financial, legal, or investment advice. Verify all figures with the franchisor's current Franchise Disclosure Document before making any investment decision.