Cousins Maine Lobster

Cousins Maine Lobster began as a Los Angeles food truck concept in 2012, founded by cousins Sabin Lomac and Jim Tselikis. Their premise was that authentic Maine lobster, sourced directly and prepared simply, could support premium pricing and customer loyalty in markets unfamiliar with the product. A 2012 appearance on ABC's Shark Tank brought a $55,000 investment and strategic partnership from real estate mogul Barbara Corcoran. The company began franchising in 2013 and 2014, growing from 15 food trucks in 11 cities in 2015 to 26 trucks across 13 states by 2017, 60 locations by February 2024, and more than 85 units across 35 states by April 2025. Systemwide cumulative sales passed $1 billion in June 2025. The company is headquartered in West Hollywood, California, and has operational roots in South Portland, Maine. It operates in the fast casual seafood and mobile food services categories, with a model built around authentic sourcing and consistent operations. For buyers, the brand offers a mobile format supported by more than a decade of unit growth and franchise system development.

The U.S. food truck services market is valued at approximately $1.8 billion in 2026 and is projected to reach $3.1 billion by 2033, representing an 8.4% CAGR over that seven year forecast period. Growth is associated with outdoor and event dining, the lower price point of mobile service compared with sit down seafood restaurants, and wider use of digital ordering and delivery. Mobile vending represents approximately 55% of U.S. food truck market revenue in 2026. Online delivery is the fastest growing category within the segment as digital adoption increases. The fast casual seafood segment also benefits from consumers choosing shellfish and white fish in place of processed beef and poultry, with lobster occupying a premium price tier. The market for authentic, premium sourced lobster in a fast casual mobile format remains fragmented, with no dominant national competitor at scale.

The initial franchise fee is $40,000. The 2024 Franchise Disclosure Document reports total initial investment of $266,700 to $968,900, while the 2026 FDD reports $267,000 to $969,000. The range reflects the selected format, with food trucks requiring less capital than brick and mortar construction in many markets, as well as differences in construction costs by location. The food truck investment range is $194,000 to $644,700, with a midpoint of approximately $419,350. Individual truck builds cost $250,000 to $280,000. The minimum liquid capital requirement is $100,000, and recommended working capital for the first three months is $50,000 to $75,000. FDD line items include leasehold improvements of $90,000 to $400,000, initial inventory and startup packages of $30,000 to $80,000, furniture, fixtures and equipment of $5,000 to $150,000, computer and POS systems of $8,350 to $23,800, and grand opening advertising of $1,000 to $2,500.

Daily operations focus on producing and serving a concentrated menu based on Maine lobster supplied through the company's established system. Food trucks remain the most common and highest performing unit type and use a lean staffing model suited to events and busy locations. Brick and mortar restaurants add fixed real estate management, dining room staffing, and longer operating hours. Both formats use the company's purchasing and distribution systems. Franchisees complete 190 hours of training, including 74 classroom hours covering brand standards, operations, financial management, and marketing, plus 116 hours of hands on training. The program includes an experience in Maine where franchisees learn about lobster fishing from commercial fishermen on the water. Corporate trainers can provide refresher training after opening upon request. Each franchisee receives a personal franchise liaison for onboarding, site selection or truck builder coordination, construction management, and restaurant buildout. Continued support includes a Franchise Director, proprietary technology platforms, marketing materials for print and digital use, local social media and advertising guidance, and access to current franchise owners. The brand targets markets with populations of approximately 500,000 to one million, along with secondary markets within a one to three hour drive.

Comparable fast casual restaurant concepts average approximately $750,000 to $850,000 in annual unit volume. Performance varies with event booking density and frequency, territory population, competition, operator experience, and local marketing. Systemwide lifetime sales passed $1 billion in June 2025.

Cousins Maine Lobster grew from 60 locations in February 2024 to more than 65 units across 26 states by May 2024, reached more than 70 open locations by October 2024, and passed 85 units across 35 states by April 2025. That represents approximately 25 net new units in about 14 months. The company planned 20 new units in 2024, projected 23 to 25 openings by the end of 2024, and has outlined a pipeline of more than 30 units for 2026. Its stated goals include reaching the 100th location by the end of 2025 and 250 total locations within the next five years. The company has signed more than 30 development agreements. Recent activity includes Grand Rapids, Michigan; Milwaukee, Wisconsin; Minneapolis, Minnesota; Pittsburgh, Pennsylvania; Syracuse and Albany, New York; San Antonio, Texas; and multiple locations in the Carolinas, Georgia, California, and the Midwest. A three unit agreement signed in December 2025 covers Columbia and Charleston, South Carolina, and Birmingham, Alabama. The Columbia truck is scheduled to launch in February 2026 and serve Augusta, Georgia. The fourth North Carolina food truck launched in January 2026 and returned to the Charlotte market. The company is exploring Dubai as its first international market. Shaun Higgins became President in May 2024 after a decade leading franchise development. Marion Thomas joined as Senior Vice President of Marketing in April 2024, and Lindsay Herberger joined as Director of Franchise Development in May 2024.

The preferred franchisee is an entrepreneurially minded operator with business ownership or management experience and an interest in food quality, customer engagement, and local community presence. The food truck model depends on event calendars, local partnerships, and active social media, so owner operators who participate directly in their markets tend to perform better than absentee operators. The company encourages multi unit development. Existing operators have signed agreements covering Oklahoma, Arkansas, and Texas; additional units in North Carolina, South Carolina, Florida, Georgia, New Mexico, and Arizona; and more trucks in West Michigan after the Kalamazoo launch in June 2025. Available territories in early 2026 include Salt Lake City, Utah; Boise, Idaho; Omaha, Nebraska; Wichita, Kansas; Springfield, Missouri; and New Orleans, Louisiana. These markets align with the brand's target population of 500,000 to one million. Franchise agreements, sourcing standards, and operating manuals are intended to protect consistency while allowing local event and marketing decisions. The path from signing to opening generally includes site or truck builder coordination, 190 hours of training, equipment procurement, and local permitting, and may take several months depending on the format and market.

For buyers reviewing mobile food services and fast casual seafood franchises, Cousins Maine Lobster warrants detailed review of its product category, unit growth, food truck economics, and support structure. The mobile food services market is projected to grow at an 8.4% CAGR through 2033, and no dominant national competitor operates at scale in the brand's authentic premium lobster niche. Independent analysis assigns the brand a Loan Activity Score of 54, rated Moderate. That score reflects a system beyond its early stage while still below the saturation risk associated with a 1,000 plus unit system. PeerSense provides due diligence information including SBA lending history, the Loan Activity Score, location maps with Google ratings, FDD financial data, and comparison tools for evaluating Cousins Maine Lobster against other franchise concepts.