As with any expanding franchise system, we have thousands of people interested in buying a franchise. To measure a candidate’s qualifications, we have established both net worth and liquid asset requirements. These requirements are per unit to be opened. The required liquid assets are a minimum of $150,000 per store and a net worth per store of $350,000. The minimum Area Development requirement per new franchisee is two stores. Therefore the minimum unencumbered liquid assets required are $300,000 and net worth of $700,000. We also require that no more than 80% of the start-up costs be leveraged; 20% of any single store’s start-up costs must be in liquid assets.
We do not guarantee leases for franchisees, nor do we negotiate your lease.
Each franchise restaurant location must at all times have a full-time, qualified, experienced General Manager, whom we must approve in advance. The GM must have direct experience in unit-level management in the casual dining environment. The GM’s responsibility is that of a senior executive with multi-unit restaurant management experience. If you do not personally have this background and experience, you will be required to have what we call an “Operating Partner.” Your Operating Partner will be responsible for operations of your franchised restaurant network. We sometimes have access to qualified individuals whom you may contact about being your Operating Partner. It is your responsibility to secure an Operating Partner if you do not have the substantive experience required. Single-unit developers must live in the market they are seeking to develop. Multi-unit developers must either live in or operate existing businesses in the market they are seeking to develop.