FILING · MN · 2025 FDD
MAI SUSHI BARS FDD (Franchise Disclosure Document) — 2025
The FDD is the 23-item legal disclosure every U.S. franchisor must hand you at least 14 days before you sign or pay anything (FTC Franchise Rule, 16 CFR 436). MAI SUSHI BARS's most recent FDD tracked here is the 2025 FDD, filed with the Minnesota Department of Commerce (public CARDS portal). Registration-state filings are public records, so you can read it free, with no sign-up.
PUBLIC RECORD · FILED 2025 · SOURCE STATE MN
| ITEM 5 | Initial franchise fee | $3,500 |
| ITEM 7 | Total initial investment | $26K–$77K |
| ITEM 3 | Disclosed litigation matters | 0 |
| ITEM 4 | Item 4 bankruptcy disclosure (franchisor, predecessor, affiliate or officer — see filing) | Yes |
| ITEM 19 | Earnings disclosure (FPR) | None — no earnings claim published |
| ITEM 20 | Outlets (fiscal 2025) | 168 franchised at year end · 8 exits (exit rate 5.1%, fiscal 2025) |
| ITEM 21 | Franchisor financial statements | Unmodified (clean) opinion — Citrin Cooperman & Company, LLP |
Citrin Cooperman & Company, LLP gave an unmodified (clean) opinion on the statements in the 2025 FDD; revenue rose 244% from FY2023 to FY2025.
Revenue · FY2025
$5.9M
p. 253 · matched to statement
Net income · FY2025
$3.9M
p. 253 · matched to statement
Where FY2025 revenue came from
93% royalties
3% initial / development fees
- Fiscal years covered: FY2023, FY2024, FY2025 (2025 FDD, statements from p. 253)
- Statements are for: Hana Group Franchising, LLC d/b/a
- Parent / owner: not identified in the statements
| Fiscal year | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Total revenue | $1.7Mp. 253 · matched to statement | $5.0Mp. 253 · matched to statement | $5.9Mp. 253 · matched to statement |
| Royalty revenue | $1.4Mp. 253 · matched to statement | $4.5Mp. 253 · matched to statement | $5.5Mp. 253 · matched to statement |
| Initial / development feesline: Franchise fees | $225Kp. 253 | $381Kp. 253 | $196Kp. 253 |
| Net income (loss) | $1.4Mp. 253 · matched to statement | $4.0Mp. 253 · matched to statement | $3.9Mp. 253 · matched to statement |
| Cash at year end | not extracted | $100Kp. 252 | $100Kp. 252 |
How to read this: royalties recur as long as franchisees trade; initial and development fees arrive only when new franchises are sold. A franchisor whose revenue leans on initial fees is funding itself by selling territories, and that revenue stops when sales slow. Under ASC 606 most franchisors recognize initial fees over the agreement term, so the line understates the cash collected in a strong selling year. Ad-fund revenue, where reported, is included in total revenue as the statements present it.
Each figure links to its page in the filed PDF. “Matched to statement” means our extraction and a second, rule-based read of the statement page agree; “extracted · not cross-checked” means the statement page is a scanned image or could not be read as text. Figures we could not place on a consistent scale are withheld, not guessed. Spotted an error? Report a correction.
Every figure above was extracted by software from the 2025 MAI SUSHI BARS FDD as filed (figures are not individually checked by a person) and links back to that document. Fields that could not be extracted are omitted; no figure here is estimated. Extraction errors are possible: the filing controls, and FDDs are reissued annually; verify against the current issuance before relying on any number. Spotted an error? Franchisors and owners can report it via the contact on our Terms page.
MAI SUSHI BARS FDD questions, answered
Where can I download the MAI SUSHI BARS FDD for free?
MAI SUSHI BARS's 2025 Franchise Disclosure Document is a public record, filed with the Minnesota Department of Commerce (public CARDS portal). It can be downloaded free from the source link on this page — no broker form, no email signup required.
What year is MAI SUSHI BARS's most recent FDD on file?
The most recent MAI SUSHI BARS FDD tracked here is the 2025 FDD, filed with the Minnesota Department of Commerce (public CARDS portal). Franchisors must update their FDD annually; confirm you are reading the current issuance before signing.
Does MAI SUSHI BARS's FDD disclose earnings (Item 19)?
No — MAI SUSHI BARS's 2025 FDD makes no financial performance representation in Item 19. That is legal and common, but it means the franchisor publishes no earnings claim.
What does MAI SUSHI BARS's FDD Item 20 show?
In fiscal 2025, MAI SUSHI BARS ended with 168 franchised outlets; 8 of 158 open at the start of the year left the system (exit rate 5.1%, fiscal 2025) through terminations, non-renewals, and "ceased operations — other reasons".
The MAI SUSHI BARS validation checklist
questions built from this brand's own filings · read them all on the profile
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