Full Answer
How much does it cost to open a Firehouse Subs franchise?
In order to open a Firehouse Subs franchise, you'll need to have a minimum of $80,000 - $100,000 liquid assets and $300,000 net worth. Additionally, you'll need to pay a $20,000 franchise fee. The total investment necessary to begin operating a Firehouse Subs franchise typically ranges from $189,574 to $997,320.
What happened to Firehouse Subs in 2020?
One franchise closed in 2020, but that is not surprising in a year that many restaurants across the country were forced to close due to the pandemic. Firehouse Subs has seen franchise unit increases over the last three years, and average franchise revenues have increased as well.
Why invest in Firehouse Subs?
As a leader in the fast casual sandwich industry, the demand for our uniquely-prepared Specialty Subs has blazed a trail all the way across the U.S. With our strong brand identity, exceptional franchisee relationships, and passionate executive team, Firehouse Subs is perfectly poised for development with the right investor.
What is the profit margin for firehouse of America franchisors?
business for the franchisor Firehouse of America, with profit margins of 6% and 8% in 2019 and 2020, respectively. They were able to increase profitability from 2019 to 2020 in large part because they were able to cut costs by 12%.
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How much does a franchise owner make at Firehouse Subs?
The estimated base pay is $69,754 per year. The estimated additional pay is $46,264 per year.
How much does franchise owner make?
When researchers accounted for the inflations caused by the few top franchises, it was established that the average annual income of 51 percent of franchisees is less than 50,000 dollars. The study also found that only 7 percent of franchise owners earn over 250,000 dollars a year.
How much does it cost to start a Firehouse Sub franchise?
The initial single-unit franchisee fee is $20,000. The average total cost for a traditional Firehouse Subs restaurant is $412,731. Investors would need a minimum of $100,000 in liquid cash to invest in order to qualify for financing for the investment. What are the royalty and advertising fees?
What is Firehouse Subs net worth?
US$ 1.10 billionFirehouse Subs has over 1,210 restaurants in 46 states, Puerto Rico, and Canada....Firehouse Subs.Firehouse Subs in Gahanna, OhioRevenueUS$695 million (2019) US$ 1.09 billion (2021; system-wide sales)Net incomeUS$ 2 million (2021)Total assetsUS$ 1.10 billion (2021)Number of employeesAbout 2,00015 more rows
Is owning a franchise a full time job?
Buying a franchise doesn't have to mean making a full-time commitment. Believe it or not, there are many franchises that can be run on a part-time basis, especially when you first start out.
What is the most profitable franchise to get into?
Most Profitable FranchisesDunkin'7-Eleven.Planet Fitness.JAN-PRO.Taco Bell.Orangetheory Fitness.Great Clips.Mac Tools.More items...•
How much is it to buy a Taco Bell franchise?
Costs overview Franchising fee: It costs between $25,000 and close to $50,000 for the initial franchise fee. This, too, will vary depending on the details of your specific Taco Bell franchise. Net worth: The current net-worth requirement is around $1.5 million worth of assets.
Who owns Firehouse Subs now?
Restaurant Brands InternationalFirehouse Subs / Parent organizationRestaurant Brands International Inc. is a Canadian-American multinational fast food holding company. Wikipedia
What is the cost of McDonald's franchise?
Documents- ID cards, lease documents, etc. Franchise Investment Cost- In India, if anyone wants to start a McDonald's franchise in India, then their net worth should be between INR 10 to 15 Crore. Also, assets worth INR 5 Crore should be in the form of cash or liquid assets.
Are Firehouse Subs unhealthy?
Firehouse Subs offers some nutritious, low-calorie foods, and you can maintain complete control over your order—allowing this restaurant to please a number of discerning palates and diets. But most menu options are relatively high in sodium.
Who is the CEO of Firehouse Subs?
Don M. Fox (2009–)Firehouse Subs / CEO
Is Firehouse Subs owned by Burger King?
announced that it has completed its previously announced acquisition of Firehouse Restaurant Group Inc. for $1 billion. With the close of the acquisition, RBI adds a strong, loved and purpose-driven restaurant brand to its existing family of quick service restaurant brands, Tim Hortons, Burger King, and Popeyes.
How much money can you make from a franchise?
The average franchise owner in the United States makes around $75,000 to $125,000 a year. That's definitely much more than the average salary of a college undergraduate with less than five years of experience, or around $50,000.
Is it worth it to own a franchise?
If you're a fledgling entrepreneur or a seasoned business person wanting to diversify your holdings, you've probably wondered, “Are franchises a good investment?” The simple answer is yes, especially if a great opportunity presents itself. There is an obvious appeal to starting a business via buying a franchise.
How much do 7 Eleven franchise owners make?
Salary Details for a Franchise Owner at 7-Eleven The estimated base pay is $81,982 per year. The estimated additional pay is $58,226 per year.
How much does a Subway owner make a year?
The average salary for an Owner is $122,559 per year in United States, which is 35% higher than the average Subway salary of $90,272 per year for this job.
Firehouse Subs Franchise Requirements
In addition to the fees associated with opening a franchise, the Firehouse Restaurant Group requires that franchisors have a minimum of $80,000 to invest, a credit score of at least 650, along with a strong inner drive for excellence, devotion to the Firehouse Subs business, community-mindedness, and a love of subs.
How many Firehouse Subs units have opened and closed?
Over the last three years, Firehouse Subs has been growing at an average of 21 franchises a year. One franchise closed in 2020, but that is not surprising in a year that many restaurants across the country were forced to close due to the pandemic.
Conclusion
Firehouse Subs has seen franchise unit increases over the last three years, and average franchise revenues have increased as well. However, there are high initial costs of opening a franchise, and based on the industry multiple, it will be difficult to sell the franchise at a profit.
Who owns Firehouse Subs?
9. Firehouse Subs was founded in 1994 by brothers Chris and Robin Sorensen in Jacksonville, Florida. The Sorensens were firefighters like their their father, Captain Rob Sorensen, a 43-year veteran of the Jacksonville Fire & Rescue Department in Jacksonville. However, the brothers had always wanted to start their own business and after a few attempts in other industries, they decided to open a restaurant and called it Firehouse Subs as an homage to their family’s firefighting history.
Who is the chief financial officer of Firehouse Subs?
2. Vince Burchianti, chief financial officer of Firehouse Subs, said, “Through third-party delivery, we’re able to widen our franchisees’ business while also offering our brand to customers where and when they choose to enjoy our food. Uber Eats is the premier delivery service provider, with the ability to increase brand visibility among off-premise consumers that otherwise might not consider Firehouse Subs, ultimately driving incremental revenue to our franchise family.”
What is average unit weekly sales volume?
Average Unit Weekly Sales Volume is weighted based on the number of operating weeks for each Restaurant.
Who owns the franchises of restaurants?
The franchisor does not directly operate any Restaurants; all company-owned Restaurants are operated by affiliates, which are owned and controlled by the franchisor’s parent – FRG.
Is Firehouse Subs on Uber Eats?
1. In mid-September 2018, Firehouse Subs announced a national partnership with Uber Eats to address growing consumer demand for the convenience of food delivery coupled with superior food quality. At the time of the announcement, there were already 500 Firehouse Subs restaurants on Uber Eats, with the goal of reaching 700 by the end of the year. In addition to serving local communities, the new partnership allows Firehouse Subs to better serve its franchisees by expanding their sales channels.
How much does a "Firehouse of America" franchise cost?
The minimum amount required for a franchisee to invest is $221,574 and can go all the way up to $985,229.
How many "Firehouse of America" units are in the United States?
There are Firehouse of America locations in the United States, of which "38" are corporate units and 1114 are franchise units.
From the Franchise Disclosure Document of "Firehouse of America", that was issued on, 04, 12 2021
The franchise is for the establishment and operation of a restaurant which offers and serves large- portion hot submarine style sandwiches in a unique fire -fighting atmosphere and decorum at an economical price under the FIREHOUSE SUBS® trade name and business system (a “ FIREHOUSE SUBS® Restaurant” or “Restaurant”).
