How to Start Firehouse Subs Franchise?
- Make Sure You Have Sufficient Capital If you want to open a Firehouse Subs franchise, you must have at least $80,000 - $100,000 in liquid cash.
- Make Sure You Have Enough Experience Firehouse Subs requires previous business experience from its franchisees. It makes sense. ...
- Assess Market Availability Many markets worldwide have availability for Firehouse Subs franchises. ...
- Submit Your Application ...
Full Answer
How much does a Firehouse Subs franchise cost?
How much does Firehouse Subs franchise cost? Firehouse Subs has the franchise fee of up to $20,000, with total initial investment range of $92,255 to $824,846. Firehouse Subs Franchise Info: www.firehousesubs.com/own-a-franchise
What is the history of Firehouse Subs?
Brothers Chris and Robin Sorensen, both former firefighters, opened their first Firehouse Subs restaurant in Jacksonville, Florida, in 1994, and began franchising the concept just a year later. Each Firehouse Subs franchise is decorated with firefighting memorabilia and artwork, with a menu that features hot and cold subs and salads.
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 it cost to start a Firehouse Sub franchise?
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. What are the royalty and advertising fees?
How much does a Firehouse Sub franchise owner make?
The estimated base pay is $69,754 per year.
Who bought the Firehouse Subs franchise?
The chain's sales have tripled in size since 2010.
How many Firehouse Subs franchises are there?
1,210 restaurantsFirehouse Subs is an American restaurant chain based in Jacksonville, Florida. It was founded in 1994 by former firefighter brothers Chris Sorensen and Robin Sorensen. Firehouse Restaurant Group, Inc. Firehouse Subs has over 1,210 restaurants in 46 states, Puerto Rico, and Canada.
How does a franchise owner get paid?
How do franchise owners get paid? Franchise owners can pay themselves a salary or depending on their business entity, they may be able to take a draw from their accumulated equity.
Which 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 Firehouse Subs net worth?
Firehouse Subs co-founders Robin Sorensen, left, and Chris Sorensen, right, with Jose Cil, CEO of Restaurant Brands International Inc. RBI agreed to buy Firehouse for $1 billion.
How much did Firehouse Subs sell?
$1 billionTwo weeks ago, Firehouse Subs employees, franchisees and customers woke up to the news that the Jacksonville-based sandwich chain had been sold for an eye-popping $1 billion cash sale to Restaurant Brands International, the parent company of Burger King, Popeyes and others.
How much did RBI pay for Firehouse Subs?
$1 billionFirehouse Subs just reported a 20% boost in sales in 2021. The chain was acquired by RBI last year for $1 billion. The sandwiches were good, but not enough to stand out among other sandwich chains.
How much money do you need to open a Chipotle franchise?
Estimated Chipotle Franchise CostType of ExpenditureEstimated AmountLowHighChipotle Franchise Fee (if they franchised)$20,000$25,000Real Estate Purchase or Lease(may vary substantially based upon the location)Site Preparation and Completion Costs$150,000$400,00011 more rows•Jul 19, 2022
What is the cost of McDonald's franchise?
Documents- ID cards, lease documents, etc. Franchise Investment Cost- In India, if anyone wants to start a McDonald's franchise in India, then their net worth should be between INR 10 to 15 Crore. Also, assets worth INR 5 Crore should be in the form of cash or liquid assets.
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.
How much money do you make owning a franchise?
According to a survey done by Franchise Business Review involving 28,500 franchise owners, the average pre-tax annual income of franchise owners is about 80,000 dollars.
How much does the average Jimmy John's franchise owner make?
(2021) Jimmy John's Median Franchise Sales: $874,845 Based on the median sales provided by Jimmy John's franchise locations, at an average of a 15% profit margin, it will take around 5.5 years to recoup your investment.
Who is the CEO of Firehouse Subs?
Don M. Fox (2009–)Firehouse Subs / CEO
What is an average franchise fee?
Franchise fees are typically between $25,000 to $50,000 on average. 2) Startup Costs: These are the expenses you'll incur to get your new business open and operating. Initial investment costs vary widely from franchise to franchise.
What is Firehouse Subs Public Safety Foundation?
Community Service. The Firehouse Subs Public Safety Foundation was launched to give back to communities. Since its inception in 2005, the Foundation has awarded more than $50 million in grants to improve the life-saving capabilities of local first responders. Extensive Training.
Is Firehouse Subs a fast casual franchise?
With our strong brand identity, exceptional franchisee relationships, and passionate executive team, Firehouse Subs franchises are perfectly poised for development with the right investor.
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.
What is a firehouse sub?
Featuring second-to-none sub sandwiches and a commitment to the communities they serve, Firehouse Subs is a daily affirmation that serving good food and doing good belong together.
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 is 3% fee?
3%+. Definition: An going fee paid to the franchisor on a regular basis to support advertising or marketing efforts. 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.
When did Firehouse Subs open?
Company Overview. Brothers Chris and Robin Sorensen, both former firefighters, opened their first Firehouse Subs restaurant in Jacksonville, Florida, in 1994, and began franchising the concept just a year later. Each Firehouse Subs franchise is decorated with firefighting memorabilia and artwork, with a menu that features hot and cold subs ...
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 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.
Firehouse Subs Franchise Business Plan
So what does it take to have a franchise like Firehouse Subs? It all starts with high work ethic and a dedication to excellence. You must possess the drive and desire to deliver superb cleanliness, service, and quality known in every Firehouse Subs Franchise.
Firehouse Subs Business License
From the first inquiry to the restaurant opening, it would take you approximately 6-12 months of processing (depending on site availability and a number of other factors).
How much ownership does Firehouse Subs have?
As a franchise owner, you are also required by the company to: Have and retain at least 50% ownership of the restaurant. Faithfully, honestly, and diligently perform your obligations under the Franchise agreement at all times.
How much does a Firehouse Subs restaurant cost?
According to their official website, an initial investment for a single Firehouse Subs restaurant ranges from $131,150 to $928,405. The cost may go as high as over $1.2 million based on the company’s Franchise Disclosure Document (FDD) for 2016.
What is the renewal fee for a franchise?
Renewal fee: 25% of the initial franchise fee
What to do if you don't have enough funds?
If you don’t have enough fund, you could seek assistance from financing companies. One such agency is the Firehouse Subs’ affiliate, Capital 94, which provides funding for equipment.
How long does franchising training take?
The company also requires you to undergo a series of training. The program typically lasts up to 8 weeks. Within the initial 6-7 weeks, you (and one of your employees) would train at the franchisor’s restaurants.
Does Firehouse Subs franchise charge startup fee?
Note that the said Firehouse Subs franchise startup fee applies to the opening of a single unit.
Is it better to buy a Firehouse Subs store?
Still, better than buying as a customer, put up a Firehouse Subs store and help spread the good cause, all while earning money. Good luck!
