Maki & Ramen

About Maki & Ramen

Edinburgh Japanese restaurant concept Maki & Ramen, founded by Teddy Lee in 2015 and led by Michael Salvador, has grown to 13 locations. In December 2024, Maki % Ramen said it plans to open seven new sites next year, including its first franchise locations, while an opening in London is on its radar for 2026. A first franchise site was secured in February 2025, in Manchester.

Salvador told Propel: “We anticipate a notable increase in the number of franchised sites, reflecting our commitment to scaling this aspect of our business. We’re steadily moving south towards London, with the goal of securing a Central London location by 2026. Alongside this, we’re planning to cross borders, with Dublin set to become our first European site in the same year.”

Maki & Ramen is funded through a mix of self-funding, loans and investments. Salvador added: “While private equity has shown interest, it’s not the path for us. We’re here to serve high-quality Japanese food at a fair price - not to boost someone else’s portfolio. Selling to private equity would risk losing the heart of what makes Maki & Ramen special, and that’s something we’re not willing to compromise. While others will likely raise prices with new living wage increases, we’re committed to staying affordable.”

Maki & Ramen opened its first franchise location in March 2025, in Glasgow, with a further franchise site planned in Manchester. The group also plans to open five company-owned sites in 2025 - in Birmingham, Aberdeen, Newcastle, Leicester and Sheffield. In June 2025, Lee said Maki & Ramen is set to have 30 sites in three years’ time, scaling to 50 in five, and in September 2025, the company opened its largest location yet - a 7,065 square-foot unit in Gateshead’s Metrocentre. It followed this by seeing out 2025 with openings in Nottingham and Sheffield.

In November 2025, the company said it is to make its international debut before the end of the year, in Dubai, and would be opening at Lakeside in Essex for its most southerly site to date. The following month, the company said it will make its London debut in 2026 with an opening in London’s Soho, which will also see the introduction of new hand-roll concept, Maki Nori, to the UK market. Lee said: “We're bringing Maki & Ramen to the heart of London while introducing an exciting new hand-roll concept that elevates everything we do. This is the next evolution of the brand.”

In February 2026, the group opened its first restaurant site overseas, with an opening at the Mövenpick Hotel, Jumeirah Village Triangle, in Dubai, and made it London debut, at The O2. Lee said the O2 site, plus a further one in the capital, in Soho, are “just the beginning of our London story”. That same month, Salvador told Propel that the fast-growing business has received investment approaches, but at present, it is focused on expanding organically.

In August 2026, Dheeraj Kumar, who was previously a district manager at Wingstop UK, secured a second franchise site with the then 20-strong Maki & Ramen. Kumar, who opened his first Maki & Ramen franchise site last year in Edinburgh, secured a new 150-cover location at the Braehead shopping centre in Glasgow.

The same month, Salvador told Propel that the business has received investment interest. He said: “Trading has been good, with growth in north England and Scotland. The growth story slows down in low GDP cities such as Newcastle and Leicester, but with our new loyalty system going live on the 18 August, we are going to be in a very competitive position closing out the third quarter and starting the fourth. The expansion pipeline is still UK focused, with four corporate sites and two franchise sites in 2027. Internationally, we are open to Europe and are keeping a very close eye on Dublin.

“Maki Nori has been received very well in Soho; we will continue to grow the brand before making a concrete decision on it. However, thus far, we are happy with the performance and will continue expanding the Maki & Ramen brand. There has been investment interest, but for right now, we are focused on acquiring 50 sites by the end of 2031 and we will re-evaluate investment then.”

That same month, the company signed its first supermarket partners for its frozen ramen range when it teamed up with Matthew Foods, which operates stores across five cities in Scotland.

Why franchise with Maki & Ramen

• ✓A Type A franchise is a £30,000 franchise fee plus VAT, an initial investment of £150,000 plus VAT, and Ebitda of 24-28%. Site size is 1,200 sq ft, with predicted revenue of £1m and break even within 12 months. A Type B franchise is a £30,000 franchise fee, an initial investment of £350,000 and Ebitda of 24-28%. Site size is 2,500 sg ft, with predicted revenue of £2.4m and break even within two years. Pre-opening assistance includes site acquisition, design and construction, funding acquisition, design and transformation and financial planning. Ongoing support includes training and development, supply chain integration, launch strategy and execution and grand opening.
• ✓The business said: “Grow with us – our franchise strategy focuses on sustainability and growth through a rigorous selection process. We partner with individuals who share our values and commitment to excellence, ensuring each new franchise contributes to our collective success. Benefits include owning your own restaurant, significant financial rewards, comprehensive support from start to finish, full training and access to operational guides, marketing materials and strategic advice, and performance tracking and monitoring.
• ✓“We are looking for individuals aligned to our values and principles, a passion for hospitality and an investment capacity between £200,000 and £800,000. We are committed to continuous improvement, remaining responsive and evolving to meet the challenges of the market and exceed the expectations of our customers. We are looking for like-minded individuals, chosen through a rigorous selection process, in order to promote sustainability and growth.
• ✓“As a Maki & Ramen franchisee, you will own your own business, reap significant financial rewards, and enjoy comprehensive support throughout your time with us. We provide full training and access to operational guides, marketing materials and strategic advice, and performance tracking and monitoring. Who is our ideal candidate? It must be someone aligned with our values and principles, with a passion for hospitality and a willingness to invest in his or her future.”

Investment breakdown