08 Sep, 2017

Five Guys Franchise

Five Guys is a family restaurant chain. They specialize in fast foods and delicious take away. The company started 25 years ago in Washington DC by a son and his four sons. Later the wife came along and when a fifth on was added, the parents left the operations of the business to their children. Five Guys have always kept their design simple, reminiscent of the 1950’s when checkerboard tabletops were in fashion. The company specializes in hotdogs, fries, burgers and drinks thereby keeping their costs very low. The company spread to over 700 locations all across the country and North America through the word of mouth. This word spread so fast that newspaper reviews had to include them.

Joining the Five Guys, franchise requires that you have a passion. You should enjoy serving food in a clean and friendly environment and warming the hearts of your patrons while doing that. The company is only focused on quality service and franchise success, you do not need to fuss about many things when you are franchising with Five Guys.

What are the requirements for joining Five Guys?

All development areas in the USA and Canada have been sold out; if you want a franchise, you have to buy from current owners in your area. Alternatively, you can opt to buy international area development rights. A franchisee must have liquid assets worth over $500,000 with a combined net worth of $1,300,000. You also need to have experience in the industry of restaurant and fast food operations, business and marketing experience is also most preferred. You need to have the financial muscle to open up more than five locations in the area you want to operate. You should also have a passion for burgers and fries and you should be able to uphold the Five Guys brand. Franchise fee of $25,000 is charged per restaurant and development fee of $50,000 is charged per restaurant. Royalty fee of 6% is charged plus marketing fee of 3%. Build out costs per restaurant are between $500,000 and $700,000. The terms of agreement for the contract run for a period of twenty years with an option for renewal.

Training is conducted at the franchisee location through field representatives. Ongoing support is also given to the franchisee through newsletters, meetings, and internet and field operatives. Marketing support is also accorded to the franchisee. You are assured of success if you follow the simple business model the franchisor has created for you.

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