Bill Christy, former CEO of Xentris Wireless, is embarking on a new venture in the food industry. Three years after initially dismissing the concept, Christy, along with business partners Mike and Kathy Hendershott, has signed a five-unit franchise agreement with Teriyaki Madness in the Chicago area. This decision marks a significant career shift for Christy, leveraging his business acumen gained at Xentris Wireless in a completely new market.
From Mobile Accessories to Teriyaki Bowls: Bill Christy’s Journey
Christy’s initial hesitation stemmed from Teriyaki Madness’s relative youth in the franchise landscape. However, the brand’s impressive growth and resilience during the pandemic, boasting 18 percent same-store sales growth, ultimately convinced him of its potential. While average gross sales dipped slightly to $1,079,488 in 2020, the company’s overall performance and future prospects remained strong. A key factor in Christy’s decision was the positive experience he and the Hendershotts had at a local Teriyaki Madness. The quality of the food and consistent positive customer interactions resonated with them.
Bill Christy Recognizes Value in Teriyaki Madness Franchise Model
Further solidifying their confidence was the leadership team at Teriyaki Madness, comprised of experienced professionals from established franchises like Maui Wowi, Smashburger, and Toppers Pizza. The passion and commitment demonstrated by both corporate staff and existing franchisees impressed Christy. He appreciated the rigorous vetting process, ensuring a strong cultural fit and dedication to the brand’s values. This resonated with Christy’s own experience building successful businesses. He currently owns three Hand & Stone Massage and Facial Spa locations in Chicago, a venture born from his personal need for massage therapy during his frequent travels as CEO of Xentris Wireless. The partnership with the Hendershotts, who also own five Hand & Stone locations, further strengthens the team’s collective experience in franchising. Their shared success in the spa industry underscores their collaborative approach and ability to leverage a strong network, a key aspect of the Teriyaki Madness model.
Teriyaki Madness: A Promising Future for Bill Christy and Chicago
Teriyaki Madness emphasizes building a strong franchisee community, fostering collaboration and sharing best practices, a key element attracting entrepreneurs like Bill Christy. Despite prioritizing cultural fit and customer-centricity over extensive business experience, Teriyaki Madness acknowledges the value of experienced operators like Christy. His background as CEO of Xentris Wireless, coupled with his existing franchise ownership, positions him for success in this new venture. Christy’s transition from leading a large corporation like Xentris Wireless to managing smaller businesses highlighted the unexpected workload associated with entrepreneurship. The multi-unit structure of the Teriyaki Madness deal offers the advantage of increased corporate support, a significant draw for Christy and his partners.
Bill Christy Sees Potential in Underserved Midwest Market
Teriyaki Madness attributes much of its recent success to its robust digital platform, encompassing online ordering and delivery partnerships. The brand also benefited from the inherent portability of Asian cuisine, further driving discovery during the pandemic. The Midwest presents a significant growth opportunity for Teriyaki Madness. With existing Chicago locations projected to reach $2 million in sales in 2021, the brand sees potential in the region’s relative lack of teriyaki concepts, positioning itself as a unique offering compared to competitors like Chipotle. The investment for a new Teriyaki Madness franchise ranges from $327,000 to $678,000, inclusive of a $45,000 franchise fee. Bill Christy’s entry into the Teriyaki Madness franchise network marks a compelling new chapter in his career, leveraging his past experience at Xentris Wireless and within the franchise industry to capitalize on the growing demand for teriyaki in the Chicago market.
