Richtech Robotics, a provider of AI-driven service robots, is set to operate 20 Walmart-located restaurants across Colorado, Arizona and Texas.
To expand its restaurant operations model, Richtech has signed a binding letter of intent (LOI) with Ghost Kitchens America, agreeing to sign a franchise deal with the company for exclusive rights to manage the Walmart-located restaurants.
AlphaMax Management, a subsidiary of Richtech, will manage the restaurants leveraging robotics and AI cloud technology.
The partnership aims to optimise restaurant operations, with each location projected to generate between $700,000 and $2m in revenue annually.
In addition to the expansion in Arizona, Colorado and Texas, Richtech has already secured operational rights for a Ghost Kitchen in Rockford, Illinois and is set to open another Walmart restaurant in Peachtree, Georgia, towards the end of 2024.
Ghost Kitchens International, with restaurants across Canada and the US, is planning to open 240 new restaurants under the ONE KITCHEN banner in both countries.
In July 2024, Ghost Kitchens deployed Richtech’s ADAM, an interactive robot bartender, barista and chef, at a Walmart location in Dawsonville, Georgia - the first of 240 planned locations to install the system, following a non-binding LOI between the two companies.
Richtech Robotics president Matt Casella said: “This agreement will significantly add to our restaurant portfolio, and these high-traffic locations will bring greater visibility to our brand and our solutions.
“Our restaurant operations will showcase the very same robotic and AI platforms offered through our RaaS (robotics-as-a-service) business model. We expect these platforms to become a fast-growing and stable revenue stream for us as we leverage them to manage thousands, and eventually tens of thousands, of restaurant operations in the future.”
Ghost Kitchens America CEO George Kottas stated: "All Walmart locations where we’ve signed agreements with Richtech Robotics have strong sales numbers and steady customer traffic.”
