How Much Does It Cost to Open Firehouse Subs Franchise?
- 1. Application Deposit: $2,500 Firehouse Subs mandates prospective franchisees to pay it a deposit of $2,500 (the “Deposit”). ...
- 2. Initial Franchise Fee: $20,000, less the $2,500 deposit ...
- 3. Mural: $3,000 to $4,600 ...
- 4. Management Information System Fee: $1,200 ...
- 5. Area Development Program: ½ of the initial franchise fee multiplied by the number of Restaurants scheduled to be developed ...
Full Answer
How much does it cost to open a Firehouse Subs?
Average Firehouse Subs Franchise Cost. According to their official website, an initial investment for a single Firehouse Subs restaurant ranges from $131,150 to $928,405.
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.
How many Firehouse Subs restaurants are there?
Firehouse Subs is a U.S.-based, fast casual restaurant chain founded in 1994 in Jacksonville, Florida by former firefighter brothers Robin and Chris Sorensen. Firehouse Subs has opened over 1,135 franchise restaurants in 44 states as well as Puerto Rico and Canada.
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.
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How much does a Firehouse Subs franchise owner make?
The estimated total pay for a Franchise Owner at Firehouse Subs is $116,018 per year.
How much does it cost to buy a franchise of Firehouse Subs?
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.
Who currently owns Firehouse Subs?
Restaurant Brands International completes its purchase of Firehouse Subs. Restaurant Brands International on Wednesday said that has completed its $1 billion acquisition of Firehouse Subs. The deal gives the Toronto-based fast-food chain operator its fourth brand, to go along with Burger King, Tim Hortons and Popeyes.
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.
What is the cost of McDonald's franchise?
The Franchise fee of McDonald's goes for around 30 lakhs INR; however, this fee is also attached with a 4 % monthly royalty fee as service fees to the brand. The actual investment amount differs, a business owner needs to keep a rough estimate of around 6 to 14 Crores.
What is the franchise fee for Dunkin Donuts?
Here is a breakdown and ranges of the financial requirements to open a Dunkin' franchise: Total investment range: $97,500 to $1.7 million. Initial franchise fee: $40,000 to $90,000 (varies by location) Net worth: $500,000 minimum.
How much does Burger King pay Firehouse Subs?
Operators wanted a piece of Firehouse Subs. In mid-November, the Burger King, Tim Hortons, and Popeyes owner announced it agreed to acquire the 1,200-unit sandwich chain for $1 billion in an all-cash deal.
What meat does Firehouse Subs use?
USDA Choice roast beef, smoked turkey breast, Virginia honey ham, and melted provolone, served Fully Involved.
How does Firehouse Subs heat their meat?
Firehouse Subs calls it their winning combination — steaming the meats and cheeses to release flavor, then stuffing it all into a toasted sub roll. “It is this method that sets us apart from the other sub shops, along with quantity and quality of meats and cheeses,” owner Eric Engelstad said.
What is the most profitable franchise?
Top 14 Most Profitable FranchisesMcDonald's. Units in operation: 39,360. ... Dunkin Donuts. Units in operation: 12,800. ... Taco Bell. Units in operation 12,800. ... Subway Franchise. Offers Financing: Yes. ... Anytime Fitness Franchise. Units in operation: 4,904. ... Sonic. Royalty: 2.5% - 5.0% ... Planet Fitness. Royalty 7.0% ... Orangetheory Fitness.More items...
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.
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.
How much does it cost for a Baskin Robbins franchise?
Baskin-Robbins Franchise / Initial Investment / Baskin-Robbins Franchise Income. The estimated initial investment required to open a Baskin-Robbins ice cream franchise is $94,350 to $402,200, including an initial franchise fee of $25,000.
What is the net worth of subway?
Subway was founded by 17-year-old Fred DeLuca and financed by Peter Buck in 1965 as Pete's Super Submarines in Bridgeport, Connecticut....Subway (restaurant)Subway restaurant at The Burwood Plaza Shopping Centre in Sydney, AustraliaRevenueUS$16.1 billion (2019) US$10.2 billion (U.S.)OwnerDeLuca family14 more rows
Where is the corporate office for Firehouse Subs?
Jacksonville, FLFirehouse Subs / HeadquartersJacksonville is a city located on the Atlantic coast of Florida, the most populous city in the state and is the largest city by area in the contiguous United States as of 2020. It is the seat of Duval County, with which the city government consolidated in 1968. Wikipedia
Financial Requirements and How Much FireHouse Subs Franchise Cost
If you are planning to acquire a Firehouse Subs franchise, below are financial requirements Firehouse Subs’ 2019 FDD.
How to Get or Open a Firehouse Subs Franchise
This franchise is for anyone who loves a good sandwich and everything that goes into making it. It is also for those who have a passion for giving back to first responders and their dedication to saving lives. Below is a detailed process of acquiring this franchise;
How Much is a Firehouse Subs Franchise?
The initial Firehouse Subs Franchise Fee is $20,000. You have to pay this upfront fee when opening a Firehouse Subs franchise.
Firehouse Subs Franchise Cost
The estimated total investment necessary to begin operation of a Firehouse Subs varies depending on the characteristics of the restaurant site, as summarized below:
Traditional Restaurant
TOTAL ESTIMATED INITIAL INVESTMENT UNDER THE UNIT FRANCHISE PROGRAM (EXCLUDING REAL ESTATE PURCHASE COSTS)
End-Cap Strip Mall Restaurant with Drive Thru
TOTAL ESTIMATED INITIAL INVESTMENT UNDER THE UNIT FRANCHISE PROGRAM (EXCLUDING REAL ESTATE PURCHASE COSTS)
Free Standing Restaurant with Drive Thru
TOTAL ESTIMATED INITIAL INVESTMENT UNDER THE UNIT FRANCHISE PROGRAM (EXCLUDING REAL ESTATE PURCHASE COSTS)
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.
Is the Company Franchise Profit Worth the Franchise Cost?
When Firehouse Subs owners sell their franchise based on the median valuation multiple for the industry of 0.31 and the average sales total from 2019 and 2020 of $734,892, the franchise would sell for $227,817. This is only about 38% of the midpoint investment of $593,447.
What Is Firehouse Subs?
Firehouse Subs is a fast-food casual restaurant chain in America. The restaurant was founded in 1994 in Jacksonville, Florida, by brothers Chris Sorensen and Robin Sorensen.
How Much Does A Firehouse Subs Franchise Owner Can make?
As per statistics, Firehouse Subs can generate approximately $840 million through its sales. An individual Firehouse Subs franchise owner can make around $75,000 to 125,000.
What Is Firehouse Subs Known For?
Firehouse Subs is known for its delicious sandwiches. The architecture of the Firehouse Subs is based on a firefighter theme which gives them a unique look, and it is a bit different concept that is liked by some customers.
Is the Firehouse franchise Profitable?
We calculate the profit on two basis- first, on the cost of investment, and second is brand recognition.
Wrap Up
Firehouse Subs is a sandwich chain that offers franchises without any prior experience.
Background
When you think of firefighters, the first thought that comes to mind may be heroic. But have you ever considered combining these heroes with a sub shop? This is where the Firehouse Sub franchise comes in. The franchise was founded in 1994 and began franchising a year later.
Company Details
Founded: 1994 First franchise: 1995 Canada: Yes International: Yes (Puerto Rico) Headquarters: Jacksonville, Florida
Support and Training Offered By Firehouse Subs
In terms of support and training, franchise owners can expect assistance with site selection, on-the job training, and classroom training to provide you with everything you need to know about running the franchise.
