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January 10, 2026 \u2014 5:01am<\/p>\n
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Remove items from your saved list<\/a> to add more.<\/p>\n Save this article for later<\/p>\n Add articles to your saved list and come back to them anytime.<\/p>\n Got it<\/p>\n Raymond Chen, chief executive of takeaway chain Sushi Hub, wants this much on the record. \u201cWe are not for sale,\u201d he said.<\/p>\n Sushi Hub\u2019s reported $1 billion valuation, a figure wrangled by The Australian Financial Review late last year, triggered a flurry of unsolicited calls from eager investors <\/strong>who want a bite of the company\u2019s success.<\/p>\n \u201cI received more than 100 phone calls from private equity, from fund [managers],\u201d said Chen. \u201cWe were never for sale.\u201d<\/p>\n Chen is among a small handful of early trailblazers that has carved a place for sushi in the nation\u2019s fast-food landscape. Australian sushi has, over the years, formed its own identity: the hand-rolls we see so commonly are a homegrown invention, and so are the fillings we favour, such as teriyaki beef and salmon, chicken katsu and tempura prawn, writes Adam Liaw, who made a case for the hybrid cuisine for <\/a>Good Food.<\/p>\n But when it comes to this particular form of fast food, Australians don\u2019t seem as brand loyal as they are with burgers (McDonald\u2019s v Hungry Jack\u2019s) or burritos (Guzman y Gomez v Zambrero).<\/p>\n Australia\u2019s two biggest takeaway sushi chains are Sushi Hub and Sushi Sushi, but the difference between the two \u2013 beginning with their names \u2013 is not as widely understood.<\/p>\n<\/p>\n Both companies have roughly the same number of stores (just under 200) across Australia, although Sushi Hub is more widely known in NSW, where it has more than 90 stores, while Sushi Sushi has a stronger presence in Victoria (95 stores). Both have similar goals to expand domestically (500 stores by 2036 for Sushi Hub, 450 by 2035 for Sushi Sushi), and both aspire to have a strong international presence.<\/p>\n Investors have learnt the difference. While Chen, who is media-shy and declined to be photographed, is fending off calls from investors (the $1 billion valuation is the minimum, and also hypothetical, he clarifies), Sushi Sushi\u2019s majority owner Odyssey has been seeking a buyer since May last year.<\/p>\n \u201cThe process is progressing,\u201d said Sushi Sushi chief executive Stephen Anders, who was chief financial officer before being promoted to the top job.<\/p>\n \u201cThere is very good interest in the business, which is to be expected when you consider that we have a category-leading platform. We\u2019ve got multiple growth pillars within an Australian market context and an emerging international footprint. At this time, there are no further details I can provide.\u201d<\/p>\n The mutual respect expressed by both Chen and Anders belies a friendly rivalry. \u201cEvery time I receive a phone call, I say, Sushi Sushi is for sale,\u201d said Chen. \u201cI\u2019m helping them. I\u2019m helping Stephen.\u201d<\/p>\n The birth of Australian sushi<\/strong><\/p>\n Much of Australia\u2019s takeaway sushi market is dominated by independent mum-and-pop stores, which account for about 65-70 per cent of sushi stores. Put together, Sushi Sushi and Sushi Hub account for about 15 per cent of all sushi outlets, but about 40 per cent of total takeaway sushi sales.<\/p>\n A third player, Sushi Izu, has more than 240 locations, but are almost exclusively within Woolworths supermarkets.<\/p>\n Chen is one of three co-founders of Sushi Hub, the other two being James Chen and Leon Li. Their first venture had nothing to do with rice or fish, however; the trio, who met at university and became flatmates in 2002, opened and ran an outpost of Asian bakery chain Bread Top in western Sydney\u2019s suburb of Cabramatta. There, the landlord suggested they open a sushi outlet.<\/p>\n \u201cWhen we started it 19 years ago, there were many people who had never tried any sushi before,\u201d Chen said. \u201cWe had to start educating the customer, giving free samples to the customer, telling them that, you know, sushi is not all about raw fish.\u201d<\/p>\n The co-founders quickly cottoned onto, and learned to standardise, the unique way Australians like to eat sushi: a preference for familiar cooked like beef and chicken, as well as prawn and veggie tempura, delivered in the beloved handroll shape.<\/p>\n The lack of experience in sushi-making helped them approach the product from a customer\u2019s perspective. \u201cI don\u2019t like cold rice, to be honest. I want it warm. Warm rice, you can smell it, and you can taste it\u2019s softer,\u201d said Chen.<\/p>\n \u201cFrom day one, we always realised that there\u2019s no secret about making sushi … keep it fresh, provide the best ingredients, keep it clean, and that\u2019s it.\u201d<\/p>\n Australia\u2019s best-selling rolls are consistently crispy chicken and chicken teriyaki rolls, salmon and avocado hand rolls and tuna salad rolls.<\/p>\n<\/blockquote>\n But there is a formula: sushi is a numbers game. Freshness, and the appearance of it, is everything. Sushi Hub\u2019s glass counters attract the eyes to rows of nigiri and inari on display, hand-made, on demand. There are regional differences, too; Queenslanders have a distinct preference for chicken sushi paired with beer.<\/p>\n Most rolls and nigiri are made and sold within two hours. \u201cOur business is based on volume, not based on high margin,\u201d said Chen.<\/p>\n Australia\u2019s best-selling rolls are consistently crispy chicken and chicken teriyaki rolls, salmon and avocado hand rolls and tuna salad rolls, according to both Sushi Hub and Sushi Sushi chiefs.<\/p>\n Sushi\u2019s popularity is multilayered and crosses generations: it is fast, fresh, convenient, healthy and affordable, appealing to everyone from high schoolers to the corporate worker.<\/p>\n \u201cYounger generations snack five times a day compared to older generations\u2019 three meals a day, so sushi roll size and price point is appealing,\u201d said retail property consultant and Titanium Food director Suzee Brain. \u201cThey can still use their phone in the other hand compared to knife and fork-style takeaway options.\u201d <\/p>\n Takeaway sushi outlets thrive in high foot-traffic, high visibility areas, and requires less floor space than other fast food outlets, or about half of a Guzman y Gomez in a typical high street or shopping centre, Brain said.<\/p>\n Sushi Hub and Sushi Sushi are part of a new generation of ascending Australian fast food chains \u2013 Lebanese chicken chain El Jannah<\/a> being one, frozen yoghurt maker Yo-Chi<\/a> being another \u2013 looking to export their brand to the world.<\/p>\n Related Article So far, Sushi Sushi has made more headway with international expansion: it operates several stores in New Zealand, plans to open 40 stores in Saudi Arabia, and have inked a deal to enter the Indian market.<\/p>\n Sushi Hub is focusing primarily on the domestic market, but is eyeing the US, Europe, Asia, and the Middle East. It\u2019s not as easy to open a Sushi Hub outlet: one can only become a franchise partner when they have worked in a store for five or more years.<\/p>\n \u201cWe are quite relaxed these days because our focus is always Australian market,\u201d said Chen. \u201cInternational expansion is only when [the] opportunity comes.\u201d<\/p>\n Hungry investors shouldn\u2019t give up hope.<\/p>\n \u201cIt doesn\u2019t mean that we will never consider selling in the future,\u201d said Chen. \u201cBut our priority and focus was always, always on the business itself. Even [if] the business is for sale, it has to be strong.\u201d<\/p>\n The Business Briefing newsletter delivers major stories, exclusive coverage and expert opinion. <\/b>Sign up to get it every weekday morning<\/b>.<\/b><\/a><\/b><\/b><\/b><\/b><\/p>\n Save<\/p>\n You have reached your maximum number of saved items.<\/p>\n Remove items from your saved list<\/a> to add more.<\/p>\n![\"Sushi](\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2026\/01\/fdbd431fd08d129ebbd2a2cf9a4531da9b5fb238.jpeg\")
Sushi Hub is one of thousands of shops selling grab-and-go hand rolls in Australia.Flavio Brancaleone<\/p>\n![\"The](\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2026\/01\/45ba36f11c3316f9a5160b75793985da4ee5cefc.jpeg\")
The Sushi Hub in Sydney\u2019s CBD.Dominic Lorrimer<\/p>\n\n
![\"Sushi](\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2026\/01\/078c64a7aaaa2acb2abbb3ddb2855d190e7fba37.jpeg\")
Sushi Sushi store, Balwyn, Victoria.<\/p>\n![\"Sushi](\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2026\/01\/f7c845c1cf84d97f904c854c20085375f5465237.jpeg\")
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Jessica Yun<\/a> is a business reporter covering retail and food for The Sydney Morning Herald and The Age.Connect via Twitter<\/a> or email<\/a>.From our partners