Golden Chick Franchise Opportunity
- Franchise fee: $20,000 first location*, $10,000 for each additional location
- Royalty Fee: 4% of Gross Revenue (excluding sales tax)
- Advertising Fund: Up to 2% local co-op funds. National Ad Fund assessment is 1% of sales
- Agreement Term: 20 years – One 5 year renewal
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Does it cost $10000 to own a Chick-fil-A franchise?
While operating a Chick-fil-A restaurant requires a relatively modest $10,000 initial financial commitment ($15,000 CAD in Canada), it requires a holistic commitment to own and operate the business in a hands-on manner. We are in the restaurant industry - the quick-service restaurant industry, at that.
How much does a chick franchise cost?
Chick-fil-A has a distinct franchise business model. The franchise fee to join Chick-fil-A is a very accessible $10,000. Chick-fil-A corporation will pay for land, construction and equipment for a restaurant, then rent it to the franchisee for 15% of sales plus 50% of pretax profit remaining.
How much does a Chick-fil-A franchise generate?
How much the average Chick-fil-A makes. The average Chick-fil-A restaurant produces $5.3 million in gross annual sales.
Who Is Golden Chick owned by?
the Parmerlee familyIn 1989, Golden Fried Chicken was purchased by the Parmerlee family and to this day remains a family owned corporation. The purchase was strongly supported by the franchise community, and since then, the chain has experienced steady growth approaching 200 locations across 5 states.
What franchise is the most profitable?
Most Profitable FranchisesDunkin'7-Eleven.Planet Fitness.JAN-PRO.Taco Bell.Orangetheory Fitness.Great Clips.Mac Tools.More items...•
Why does it only cost 10k to own a Chick-fil-A?
The franchisee only pays the $10k franchise fee. Chick-fil-A pays for (and retains ownership of) everything — real estate, equipment, inventory — and in return, it takes a MUCH bigger piece of the pie. While a franchise like KFC takes 5% of sales, Chick-fil-A commands 15% of sales + 50% of any profit.
What does an average Chick-fil-A owner make?
Average Chick-fil-A Business Owner yearly pay in the United States is approximately $353,111, which is 450% above the national average.
How much does a McDonald's franchise cost?
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.
How much does a fast food owner make a year?
Fast food franchises are incredibly profitable compared to other types of businesses. According to a McKinsey study, the average fast-food franchise makes a gross profit of more than 20 percent on revenues of $2.5 million per year. That's more than twice the profitability of the average small business.
What type of oil does Golden Chick use?
What kind of cooking oil does Golden Chick use? Golden Chick uses beef tallow oil to prepare the food items.
Is broasted chicken fried?
Broasted chicken is fried in oil. But it is fried, in essence, inside a pressure cooker. Generically speaking, the machinery that can fry and pressure cook chicken simultaneously is known as a pressure fryer. However, to be Genuine Broaster Chicken requires more than a pressure fryer.
Does Golden Chick have MSG?
Contains MSG! * FoodPoints are calculated by Fooducate based on fats, carbs, fiber, and protein.
How much profit does Chick-fil-A make a year?
Revenue reached $5.8 billion in 2021 compared to $4.3 billion in 2020, an increase of 33.3 percent. Comprehensive earnings were $1.2 billion in 2021 compared to $715.9 million in 2020, an increase of 67.3 percent.
What is Starbucks franchise fee?
What are the Financial requirements for a Starbucks licensed store? You need to pay the licensing fee of between $50,000 – $315,000 and you must have over $1,000,000 in liquid assets to be considered for a licensed store by Starbucks.
What are the benefits of owning a Chick-fil-A franchise?
Chick-fil-A pros Their initial franchise fee is significantly lower than their competitors. Franchisor covers the majority of startup costs, including real estate, construction, and equipment. Franchisor rents you all necessary equipment. No prior restaurant experience necessary.
How much does a McDonald's franchise cost?
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.
What Does a Golden Chick Franchise Cost?
Franchisees can expect to make a total investment of $461,900 - $832,700. They also offer financing via 3rd party. *
What is franchise advisory committee?
Franchise Advisory Committee – Gives Franchisees a voice on key issues
What is national volume purchasing?
National volume purchasing program to ensure great pricing on food and packaging without a mark-up from the franchisor
How much does it cost to open a Golden Chick franchise?
Because franchisees won’t need to cover as many construction costs as they would for Freestanding, Ground-Up locations, their initial investment will likely be between $440,950 to $838,000. See Item 7 of franchise disclosure document.
How to break down chicken franchise cost?
The best way to break down our chicken restaurant franchise cost is to contact us directly and request a copy of our FDD. We’ll be glad to walk you through the key expenses, how much liquid capital you’ll need to get started, and much more.
Is Golden Chick franchisee?
While independent owners need to anticipate everything they’ll need to purchase, Golden Chick franchisees enjoy the benefit of our guidance and expertise. We can’t promise that unexpected costs won’t arise, but the likelihood is far lower given our years of experience setting up new restaurants.
Background
Quick-service restaurants (QSR) are growing in popularity and are slated to grow 6.5% worldwide by 2026. If you want to get your piece of this booming industry, then the Golden Chicken franchise could be for you. It is a fast food concept that serves chicken, salads, sides and more in convenient locations that have memorable building styles.
Support and Training Offered By Golden Chick
Franchise owners can expect assistance with site selection, location opening, and ongoing support after the opening. The franchise owners will also receive great marketing materials. District Directors will also make visits to discuss and help solve problems related to costs, quality assurance and other opportunities.
Franchises Similar to Golden Chick
The International Franchise Professionals Group (IFPG) is an internationally recognized membership-based franchise organization. IFPG Franchise Consultants guide aspiring business owners through the process of identifying and investing in franchise businesses. The IFPG represents more than 550 franchises.
Who Are Our Franchisees?
Golden Chick franchisees come from all walks of life. Whether you’re a franchising expert or are looking to open your first business, we’re ready to work with you. Many of our franchisees fit into the following categories:
What is Golden Chick?
The Golden Chick franchise concept is a family-oriented quick-service restaurant (QSR) with dine-in, drive-thru, take out, and third-party delivery services. Our customers describe our concept best when they say we offer the best-tasting chicken and the best choice of sides in our industry. Our menu is comprised of signature products, from Golden fried chicken and Golden Tenders® made with our proprietary marination mixes and batters, to our hand-rubbed Golden roast chicken and Southern-style catfish.
What is field support?
Field support - District Directors will make visits to discuss and help solve problems related to costs, quality assurance and other opportunities to ensure the utmost profitability and growth for our franchisees
When did Golden Fried Chicken change its name?
What started as one restaurant in central Texas in the late 60’s, grew to 39 franchise locations by 1982, and in 1992 Golden Fried Chicken changed its name to Golden Chick.
Is Golden Tenders still the best?
As the originator of Golden Tenders®, we are “The Original & Still the Best”™ — which have become a mainstay of the QSR chicken category. Our longevity, highly recognizable brand name, and beloved menu have made Golden Chick a leader among QSR franchises. Now is a great time to break into the industry with our expert guidance.
What is Golden Chick?
The Golden Chick concept is a family-oriented quick-service restaurant with dine-in, drive-thru, and optional delivery service capability. Our customers explain our concept best when they say we offer the best tasting chicken and the best choice of sides in the industry. Our menu is comprised of signature products from Golden Fried Chicken and Golden Tenders® made with our proprietary marination mixes and batters, to our hand-rubbed Golden Roast Chicken and southern-style catfish.
Is Golden Chick a franchise?
Our Golden Chick franchise partners enjoy many advantages, including low start-up costs, superb ground up or conversion construction design, strong marketing and advertising support programs, and the best quality menu procedures in the business.
What is the franchise fee?
What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. This fee is usually due at the signing of the franchise agreement and covers the right to use the franchisor's trademarks, name, and related business systems.
What does absentee ownership mean?
Definition: Absentee ownership means that the franchisee does not actively work in the franchise business or manage day-to-day operations.
How long is a franchise agreement?
What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee.
What is included in the initial investment?
What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high.
What is exclusive territory?
Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened.
What is a military discount?
Definition: A discount or other incentive offered to military veterans who buy a franchise with this company.
What is the purpose of royalty fee?
What you need to know: This may also be called advertising fee, marketing fee, brand fund fee, and more, but the basic purpose is the same-- to support promotion of the brand systemwide. As with the royalty fee, it is detailed in Item 6 of the FDD, and can be a percentage of weekly or monthly gross sales or a weekly, monthly, or annual fee.