How much does a Golden Krust Caribbean Bakery & Grill franchise cost?
- Initial Franchise Fee: $40,000
- Total Investment: $215,500 to $575,000
- Working Capital: $30,000 to $50,000
- Royalty Fee: 3.0%
Full Answer
How do I become a Golden Krust franchise owner?
The first step towards becoming a Golden Krust franchise owner is completing and submitting our application. Golden Krust will also provide our Franchise Disclosure Document (FDD) for your review. This document contains material terms about Golden Krust and will help you decide if we are a good match for each other.
Why choose Golden Krust Caribbean restaurant?
Golden Krust Caribbean Restaurant has a 70 year heritage of untouched recipes. Our patties are the #1 selling patty in North America. Golden Krust Caribbean Restaurant is a premier producer and the largest franchisor of authentic Caribbean cuisine sold in over 125 franchise restaurants throughout North America.
Where is the first Golden Krust in Florida?
Our love for the Golden Krust concept brought us to open our first store, the first in the Central Florida market.
Where is the second Golden Krust store in Georgia?
Because of the success of the brand, 2 years later in 2018, I acquired my second Golden Krust store in Conyers, Georgia. Many thanks to Ms. Jacqueline Hawthorne and the rest of the Hawthorne family for believing in me as I certainly believe in them and the Golden Krust brand.
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How much does it cost to buy a Golden Krust franchise?
$225,900 to $620,000Investment Breakdown The total investment necessary to begin operating a Golden Krust Caribbean Restaurant or a GK Jerk 'N Patties ranges from $225,900 to $620,000.
Who owns golden crust?
the Hawthorne familyThe parent company is owned by the Hawthorne family, and the stores are franchised. There are over 100 Golden Krust restaurants operating in ten U.S. states: New York, New Jersey, Connecticut, Pennsylvania, Georgia, Florida, Maryland, North Carolina, Massachusetts, and Texas.
Is Golden Krust black owned?
Golden Krust is 100% black-owned and founded by immigrants.
How many Golden Krust restaurants are in the United States?
Lowell Hawthorne, Golden Krust was the brainchild of Ephraim and Mavis Hawthorne, founders of Hawthorne & Sons Bakery in St. Andrew, Jamaica and parents of the present owners. They had no idea then that their dream would one day blossom into a now global business with over 125 restaurants in North America.
What happened golden crust?
Hawthorne was reportedly in debt and in the midst of a lawsuit filed against him by a former employee.
Where was the first Golden Krust?
The Hawthorne siblings, along with their spouses, put their savings together and opened the first Golden Krust Caribbean Bakery at 1381 E. Gunhill Road, New York.
Is Hawthorne black owned?
HawthorneSKIN is a black owned business brand that makes everything HANDMADE from our home base in South Carolina. Our Products are | CRUELTY FREE | GLUTEN FREE | VEGAN | PARABEN FREE | SULFATE FREE | making every penny worth it.
Does golden crust ship?
Best of all, we'll ship these patties to you anywhere you are in the United States of America. So, why not throw in some Jamaican patties with your order of JAMAICAN BEEF PATTIES--GOLDEN KRUST PATTY ? A BIT ABOUT US.
Is Golden Krust coming to Plainfield NJ?
PLAINFIELD – The restaurant corridor along South Avenue is about to get some Caribbean flavor. A sign is posted at the shuttered White Castle, 1335 South Ave., announcing that Golden Krust is coming to the site.
Is Lowell Hawthorne still alive?
December 2, 2017Lowell Hawthorne / Date of death
What happened to the Golden Krust owner?
'Golden Krust' CEO kills himself in Bronx factory Before the shooting, the video shows Hawthorne speaking with a pair of workers who left the room, both of whom were crouched down when they later returned to his office, sources said.
How much do franchisees pay Golden Krust?
For any of the two options, franchisees are required to pay 3% of their gross revenue weekly to Golden Krust Franchising Inc. Also, franchisees are to set aside 2% of gross revenue for advertising. They are to remit 1% to Golden Krust every week for national advertising and then use the remaining 1% on local marketing.
How long has Golden Krust been around?
Golden Krust Company was established 28 years ago and over these years, the company has developed a strong brand identity, built credibility and a strong customer base that helps them to generate good sales and profits. By extension, all Golden Krust franchises also enjoy these benefits.
How much does it cost to start a franchise?
The cost of starting a franchise is $25,000. You first have to make the initial investment which ranges from $173, 400 to $564,000 depending on the location and the size of your franchise.
How many states does the franchise company have?
This success encouraged the owners to start creating franchises. The company now has over 100 restaurants in operation in nine states which include the United States, Florida, Maryland, North Carolina, Georgia, Connecticut, Pennsylvania, New Jersey, and Massachusetts.
What is Golden Krust?
Golden Krust Caribbean Bakery & Grill Inc. is a Food Company that operates chains of restaurants that mainly serve Jamaican cuisines. The company also manufactures food products such as Jamaican Patties, bread, and cakes which they distribute to schools, hospitals, supermarkets, retail outlets, food services facilities, and their franchises.#N#Golden Krust was established in 1989 in Bronx, New York City.
Does Golden Krust have franchises?
This clearly shows that Golden Krust sees its franchises as an extension of their company. So, rather than abandoning their franchisees to struggle with the success of the business, they partner with them to achieve that success. Guiding their franchisees in making informed decisions required in starting the business.
How long do you have to open a Golden Krust restaurant?
The remainder of the franchise fee goes into the general operating fund. You do have 12 months to locate a site for your restaurant upon signing the franchise agreement and this location must be approved by Golden Krust.
How many square feet are needed for Golden Krust?
Most restaurants have a minimum of 500 square feet to them, but could be as high as 3,500 square feet depending on the needs and location within your local community. A kiosk has more flexibility in location, but still should be in a high traffic area and have a minimum of 250 square feet.
How Much Does It Cost To Start a New Franchise?
For a traditional location, the franchise fee is $25k. Unlike other opportunities, however, nearly 60% of your franchise fee comes back to you in the help that you’ll get from the organization as you receive assistance with a number of pre-opening obligations.
How much cash do you need to run a kiosk?
There is a net worth requirement of $300k for a kiosk location or $500k for a standalone restaurant. There must also be a minimum of $120k of liquid cash available. There are, however, opportunities to be an absentee owner in this structure, which isn’t always the case in this specific industry. Despite this, over 95% of franchisees choose to remain owner operators. With only 8 employees required to run a location, overhead costs can stay low, yet great food can still come out!
How many square feet are there in a restaurant?
Most restaurants have a minimum of 500 square feet to them, but could be as high as 3,500 square feet depending on the needs and location within your local community. A kiosk has more flexibility in location, but still should be in a high traffic area and have a minimum of 250 square feet.
How much royalty is paid on POS?
There’s also a 3% royalty that must be paid weekly from your gross sales. This is done via an electronic sweep, which means it will be automatically deducted from your accounts based on the gross sales orders run through your POS. There’s also a 2% advertising royalty that must be paid and will be collected in the same fashion. Half of this advertising royalty is deposited into a general advertising fund and is used for brand recognition. The other half is spent on local marketing efforts, which can include local media if you so choose.
Is Golden Krust a franchise?
With lower royalties than other restaurants and competitive franchise fees, Golden Krust could provide you with the right opportunity to get involved in this industry. The organization does require more compliance and oversight than other franchises in regards to design and location, but in return you’ll gain access to a proven model of success.
How much does a Golden Krust Caribbean Bakery & Grill franchise cost?
Golden Krust Caribbean Bakery & Grill has a franchise fee of up to $40,000, with a total initial investment range of $215,500 to $575,000.
How many franchise locations do they have?
As of the 2018 Franchise Disclosure Document, there are franchised Golden Krust Caribbean Bakery & Grill locations in the USA.
When did they begin franchising?
They began franchising in 1996. The average Ethnic franchise began franchising in 2011.
How much does it cost to open a Golden Krust restaurant?
The franchise fee to open a Golden Krust restaurant location is $25,000 for a traditional location and $15,000 for a kiosk. Golden Krust offers a comparatively low capital investment, between $100,000 and $150,000, due to simple operation and low equipment costs. A royalty fee of 3% on gross monthly sales is paid to the company.
What is Golden Krust?
Golden Krust believes their company success is dependent on the success of their franchises, so the company is dedicated to helping franchisees achieve that success. Golden Krust looks for franchisees with strong desire to succeed, the ability to lead effectively and to devote time and energy necessary to run a successful business.
Where is Golden Krust located?
Andrew, Jamaica, and opened their first Golden Krust retail location in 1989 in Bronx, New York. By 1996 they had expanded to 17 restaurants in New York City, and began franchising that year. Today, Golden Krust operates a chain of more than 100 restaurants in nine states: New York , New Jersey, Connecticut, Pennsylvania, Georgia, Florida, Maryland, North Carolina and Massachusetts.
Is Golden Krust a franchise?
Golden Krust Caribbean Bakery & Grill is a privately held corporation that manufactures and distributes Caribbean food, as well as a franchisor of Caribbean restaurants. Golden Krust products can be purchased in the franchise restaurants , as well as supermarkets, hospitals, schools and other food service facilities throughout the United States.
Where was the first Golden Krust?
Andrew, Jamaica, Lowell Hawthorne, his wife Lorna and four siblings and their spouses pooled their resources in 1989 to open the first Golden Krust in Bronx, New York. By 1996, they had 17 restaurants, all in New York City, and decided to expand further through franchising.
What is 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.
How long does a franchise last?
Definition: The length of time your franchise agreement will last. 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.
What is franchise investment?
Definition: The total amount necessary to begin operation of the franchise. 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.
