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How much does a Zaxby's franchise make a year?
The average gross revenues of the franchised stores in 2021 were $2,544,354, a 12.8% change from last year.
How much do zaxby owners make?
According to industry reports, the average Zaxby's restaurant brings in nearly $2.2 million in sales. On those sales, you are likely to make around 8.5% EBTITDA (profits) or around $190,000 before paying above store general and administrative costs. Is Zaxby's a good investment?
Who owns Zaxby's franchise?
Zach McLeroy, Chairman and Founder of Zaxby's, has grown a billion-dollar franchise through hard work, resiliency, and determination that all began with a dream and an opportunity in 1990.
How much is franchise for McDonald's?
McDonald's franchisee applicants must have a minimum of $500,000 available in liquid assets and pay a $45,000 franchise fee. Those looking to launch a new McDonald's franchise can expect to shell out between $1,314,500 and $2,306,500. Existing franchise prices can cost upwards of $1 million or more.
Who is the CEO of Zaxby's?
Bernard Acoca (Jan 2022–)Zaxby's / CEO
How much was Zaxby's sold?
$2 billionGoldman Sachs Merchant Banking Division bought Zaxby's for $2 billion in November 2020, and Townley exited at that time while McLeroy stayed on as CEO. Read here about the acquisition, which won a Franchise Times Dealmakers award in 2021.
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 Chick Fil A?
S. Truett CathyChick-fil-A, Inc. is a family-owned business, founded by S. Truett Cathy. Today, Truett's children—Dan T. Cathy, Donald (Bubba) M.
How many states is Zaxbys in?
The first restaurant opened in Statesboro, Georgia., in March 1990. Zaxby's currently operates more than 670 locations in 16 states, including Alabama, Arkansas, Florida, Georgia, Indiana, Kentucky, Louisiana, Mississippi, Missouri, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Utah and Virginia.
What franchise makes the most money?
What is the most profitable franchise to own? According to the Franchise 500 list of 2021, Taco Bell is the most profitable franchise to own. The food chain has been franchising for nearly 6 decades and is still seeking franchises worldwide. As of 2021, they have 7,567 open units.
What is the most profitable franchise to own in 2022?
Most Profitable FranchisesDunkin'7-Eleven.Planet Fitness.JAN-PRO.Taco Bell.Orangetheory Fitness.Great Clips.Mac Tools.More items...•
How Much Is a Subway franchise?
How much is the franchisee fee? The initial franchise fee ranges from $10,000 - $15,000* (US dollars) depending on your country.
What is the royalty fee for Zaxby's?
6%Zaxby's franchise fee is $35,000 per restaurant. Franchisees are expected to have a net worth exceeding $700,000, with more than half of that in liquid assets. The initial investment ranges somewhere between $284,000 and $664,300. An ongoing 6% royalty fee of net sales is also applied.
How many children does Tony Townley have?
four childrenUndoubtedly, Townley's greatest passion in life is Elizabeth and their four children, John Wes, Dillard, Will and Grace. “Family has always been very important to me,” he said. “I hope now I'll have more time to spend with our kids and help them in any way I can as they figure out their career paths.”
How many Zaxby's locations are there?
Zaxby'sTrade nameZaxby'sFoundersZach McLeroy Tony TownleyHeadquartersAthens, Georgia, U.S.Number of locations941 (2022)Area servedUnited States8 more rows
How much does it cost to franchise Zaxby's?
This includes a franchise fee paid to the franchisor in the amount of $35,000.
How Much Money will you Make as a Zaxby’s Franchisee?
According to industry reports, the average Zaxby’s restaurant brings in nearly $2.2 million in sales. On those sales, you are likely to make around 8.5% EBTITDA (profits) or around $190,000 before paying above store general and administrative costs.
How much is the royalty fee for franchising?
The ongoing royalty fee paid to the franchisor is 6% of gross sales per week. This amount is remitted weekly by ACH draft on the Tuesday following each week (Monday through Sunday) for which the royalty was due.
How much is Zaxby's national marketing contribution?
The ongoing national marketing contribution is 1% of Gross Sales per week (may be increased by up to 1.5% in the discretion of Zaxby’s) National Marketing contributions are paid at the same time as the royalty but are remitted to Zaxby’s National Marketing Fund.
Where is Zaxby's located?
Zaxby’s first location popped up in 1990 in Statesboro, Georgia, near the Georgia Southern University. Today, the chain has expanded through rapid franchising, mostly in the Southern United States and has more than 900 locations. 123 of those locations are owned by Zaxby’s corporate so that puts the majority in franchisees hands.
Who is Zach McLeroy's childhood friend?
He then joined together with childhood friend, Tony Townley to start Zaxby’s.
How much does a co-op contribute to marketing?
The ongoing local co-op marketing contribution is between 1.5% to 3.5% of gross sales per week, and this amount is determined by the Co-op. Similar to royalties, this amount is remitted weekly based on the percentage of sales.
What is Zaxby's Franchising?
Zaxby's Franchising, Inc., actively seeks highly qualified individuals be become licensees. Prior business experience, financial qualifications, motivation, team spirit and a track record of personal success are all important factors in our evaluation process. Prospective licensees must meet the following criteria to be considered:
Is Zaxby's franchise open?
ZFI is committed to developing a diverse community of licensees and, in that regard, the Zaxby's franchise opportunity is open to all qualified applicants, regardless of age, gender, race or ethnicity.
How much does it cost to franchise Zaxby?
Zaxby franchise requires about $284,000 to $664,300 for the initial investment. This cost covers everything that you need to start up your business which includes the initial franchise fee, lease deposit and payment, utility deposit, initial inventory, furniture, fixture and equipment, signage, and initial marketing contribution.
What are the requirements to become a Zaxby franchisee?
Like other franchise company, in order to qualify for a Zaxby franchise, the franchisee must possess the following criteria: prior business experience, financial qualification, motivation, team spirit, and a track record of personal success. In the financial stipulation, the prospective franchisee must have a collective net worth of at least $700,000 with a liquid asset greater than $400,000. They must also be able to satisfactorily pass the background checks for the following additional criterion: creditworthiness, no criminal background, no history of extensive litigation, and a satisfactory motor vehicle report.
How much is royalty fee for Zaxby?
It is the payment for the usage of the company name that includes advertisement and support from the mother company. Different franchise business offers different royalty fee, in Zaxby, they offer a 6% royalty fee per week.
How much does Golden Corral franchise cost?
Golden Corral offers their franchise a start-up package of $1,961,000 to $5,539,000. This package price includes the land purchase, initial franchise fee, construction, signage, furniture and equipment, insurance, and funds for the first three months of operation. Golden Corral franchise has a 4% royalty fee for their monthly gross sale.
How many square feet are there in a Zaxby?
The average Zaxby restaurant is 3,300 to 3,800 square feet which are approximately one commercial acre is needed to make the building. This can vary depending on the location of the business you want to put up. In addition, the total land area of the restaurant depends on the amount of money that you initially invest.
Where is Zaxby located?
It opened its first restaurant in Statesboro, Georgia in 1990 and now they have over 730 franchises all over Southeastern US. Moreover, Zaxby is a chain of casual dining fast food restaurant which is decorated with an odd yet entertaining object that represents something unique in the location of the restaurant.
Is it easy to start a business with ABC?
Starting a business is not as easy as 123 or the ABC. Not only does it require constant effort and monitoring it also needs a wide range of knowledge about the business that you want to put up.
What is a Zaxby's franchise?
Franchise Description: Zaxby's Franchising LLC is the franchisor. The franchisor grants licenses for quick casual dining restaurant (s) featuring an upscale menu consisting primarily of chicken fingers and buffalo wings, and an assortment of salads and sandwich baskets, all complimented by an array of unique Zaxby's-brand sauces. Zaxby's restaurants focus on prepared-to-order menu items using real chicken.
How long does a franchise last?
Term of Agreement and Renewal: The length of the initial franchise term is 10 years from the opening of the restaurant. Subject to the franchisor’s requirements, it may allow franchisees to renew for one additional successive 10-year term.
What are the obligations of a franchisee?
Obligations and Restrictions: Franchisees must devote their best efforts to the efficient and effective management, promotion, and operation of the restaurant. While the franchisor recommends that the designated principal be actively engaged in the operation of the restaurant, it does not require the designated principal or any of the owners to participate personally in the day-to-day operation and on-premises supervision of the restaurant. The designated principal must have authority over all business decisions related to the restaurant and the power to bind the franchisee in all dealings with the franchisor. At all times that the restaurant is open for business, it must be under the personal, on-premises supervision of a certified manager. Franchisees may offer in the restaurant to customers only the products and services that the franchisor has approved in writing. In addition, franchisees must offer the specific products and services that the franchisor requires in the manual or otherwise in writing. Franchisees must use the restaurant solely for the operation of the system restaurant.
Where is phase 3 of franchising?
Phase Three is conducted at the franchisor’s corporate offices in Athens, Georgia. The restaurant manager training program requires 315 hours of “on the job” training for managers, in addition to the over 35 hours of classroom training.
Who must be the designated principal in a franchise?
Obligations and Restrictions: Franchisees must designate one person who owns at least 25% of the equity interests as the “designated principal.”. The designated principal must have the authority to bind the franchisee to obligations relating to the license agreement.
Does franchising offer financing?
Financial Assistance: The franchisor does not offer direct or indirect financing, nor does it guarantee a franchisee’s lease or other obligations.
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