How much is a franchise for Tom and cheese?
what does it cost to own a tom & chee? Tom & Chee is a low-cost investment with high profit-potential. With a total investment range between $302,700-$433,500, Tom & Chee is a great and affordable franchise to own.
How much did Tom Chee sell for?
$600,000Tom+Chee walked off the set with an agreement to sell 30% of the chain for $600,000. The appearance drew 2,400 inquiries from prospective franchisees, according to Tom+Chee's co-founders, Trew Quackenbush and Corey Ward, veterans of the Palomino polished-casual chain.
Who owns Tom & Chee?
GSR BrandsIn the fall of 2017, Tom & Chee was officially acquired by GSR Brands, a family-owned franchise business with over 50 years of brand experience growing franchise concepts and helping franchisees thrive in the restaurant business.
How many Tom and Chee franchises are there?
Today, there are just a dozen Tom & Chee restaurants scattered across seven states.
Did a shark invest in Tom and Chee?
But more notable were the operation and financial setbacks facing the category upstart. Tom & Chee inked a deal with Shark Barbara Corcoran to sell 30 percent of the chain for $600,000.
Does Gold Star Chili own Tom and Chee?
Gold Star Chili acquired Tom + Chee on Sept. 20 after buying the brand's assets for an undisclosed sum. The relationship between the brands stretches back nearly four years when now-Gold Star CEO Roger David met Tom + Chee founders Corey Ward and Trew Quackenbush.
Is Tom Chee still in business?
As of April, 2021, only seven stores remained open, some falling victim to Covid-19 related shutdowns. One of those stores is the new prototype store of the re-branded Tom & Chee (the “+” was replaced). In June, 2021, the company opened new franchised stores in Cincinnati, Oklahoma City and Pittsburgh.
Why is it called Tom and Chee?
Our first location was a pop-up tent on Fountain Square in Cincinnati. We served our amazing grilled cheese to the cold and hungry crowds visiting the annual outdoor holiday market. We melted hearts, and cheese, and the word quickly spread about the toasty little tent near the ice skating rink.
Who invested in Tom and Chee on Shark Tank?
The founders took it to "Shark Tank" in 2013 and won $600,000 in investment from Mark Cuban and Barbara Corcoran, though Cuban later backed out and the restaurant renegotiated with Corcoran for an undisclosed amount.
What is a Tom & Chee Franchise?
Tom & Chee has risen from humble origins to one of the rising stars in the $23 billion sandwich industry. In 2009, the first Tom & Chee location literally popped up in a tent near the ice-skating rink in downtown Cincinnati, Ohio, during the winter holidays. Since then, Tom & Chee has become a nationally-recognized brand after appearing on Shark Tank and growing to more than 12 locations in seven states.
Where is Tom and Chee located?
In 2009, the first Tom & Chee location literally popped up in a tent near the ice-skating rink in downtown Cincinnati, Ohio. Since then, Tom & Chee has become a nationally-recognized brand after appearing on Shark Tank and growing in seven states.
How many franchise locations do they have?
As of the 2020 Franchise Disclosure Document, there are 10 franchised Tom and Chee locations in the USA.
Do they offer Territory Rights?
Tom and Chee offers territory protections. For an explanation of territorial rights, unlock this franchise for important details.
Do they offer financing support?
No, but you can click here to fill out our affordability calculator and understand your financing options.
What is franchise grade?
Franchise Grade is dedicated to providing research and education that can help you make confident franchise investment decisions.
Does Tom and Chee have franchise support?
Yes. Tom and Chee offers comprehensive support for franchisees. Unlock this franchise to find out more details.
Start-Up Costs
The start-up costs of purchasing a Tom & Chee franchise start off with the $30,000 franchise fee. It is important to note that this fee drops to $15,000 when you buy a second franchise and each subsequent location through number four.
Business Set-up Fees
Part of the overall cost to buy a Tom & Chee franchise is the fees that come with opening a new business. These include such items as fees associated with the establishing of water and electricity accounts for the restaurant. Current Tom & Chee locations see an average cost of $1000 for setting up of utilities.
Operating Capital
The business model of the Tom & Chee franchise incorporates the inclusion of additional capital to finance the first three months of operating costs. This money is budgeted for the cost of paying employees’ salaries.
Why Choose a Tom & Chee Franchise
The very first Tom & Chee established was a pop-up tent near the ice skating rink of downtown Cincinnati in 2009. Its popularity grew quickly thanks to the menu’s unique twist of an Americana childhood classic favorite: tomato soup and grilled cheese.
Current Locations
Presently there are seven of eight Tom & Chee franchises in business, with new locations opening soon. The state of Ohio, where the Tom & Chee franchise originated, hosts 4 locations.
What makes Tom and Chee special?
What Makes Tom & Chee Special? We’re real people with a passion for great, fun food. We started selling our grilled cheese out of a tent set up next to an ice skating rink in December of 2009. After a lot of hard work, we now have several Cincinnati area locations as well as franchise operations in 14 states. Our passion for quality food has led to us being featured on ABC’s Shark Tank, The Chew, the Travel Channel’s Man v Food Nation and Amazing Eats, and the Today Show named our Grilled Cheese Donut one of the Best New Sandwiches In America.
What is Tom and Chee?
Tom & Chee is the grilled cheese and tomato soup shop for the kid at heart, mixing classic comfort food with fresh ingredients, healthy alternatives, and a flair for the unexpected.
