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Updated RecentlyManchu Wok vs Binghamton Hots Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of Manchu Wok vs Binghamton Hots including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
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| Investment | $476,050 - $787,500 | $122,850 - $213,450 |
| Franchise Fee | $30,000 | $25,000 |
| Royalty Fee | 7% | 5% |
| Advertising Fee | 1% | 2% |
| Year Founded | 1981 | - |
| Year Franchised | 1989 | - |
| Term Of Agreement | 5 years | 10 years +5+5 |
| Term Of Agreement | 5 years | 10 years +5+5 |
| Renewal Fee | $3K per year | - |
Business Experience Requirements |
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| Experience | Some familiarity with restaurant operations is helpful, but it’s not required to be part of the Binghamton HOTS casual restaurant franchise program. We do look for people who will be dedicated to their restaurant operations, and who have solid business and people management experience. The ability to build a strong operations team and potentially open and operate multiple units are also important factors we evaluate. | |
Financing Options |
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| In-House/3rd Party | In-House/3rd Party | |
| Franchise Fees | No/No | No/- |
| Start-up Costs | No/No | No/- |
| Equipment | No/No | No/- |
| Inventory | No/No | No/- |
| Receivables | No/No | No/- |
| Payroll | No/No | No/- |
Training & Support |
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| Training | - | Classroom (up to 16 hours) On-the-job (up to 60 hours) sessions |
| Support | Newsletter, Meetings, Toll-free phone line, Grand opening, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives | We will send a representative to assist you and your team on-site around the time of your Grand Opening. We will present you with a copy of our confidential operations manual to help you run your casual restaurant franchise properly on a day-to-day basis. |
| Marketing | Co-op advertising, Ad slicks, National media, Regional advertising | - |
| Operations |
20% of all franchisees own more than one unit Number of employees needed to run franchised unit: 12 Absentee ownership of franchise is allowed. (90% of current franchisees are owner/operators) | - |
Expansion Plans |
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| US Expansion | - | Yes |
| Canada Expansion | No | - |
| International Expansion | Yes | - |
Company Overviews
About Manchu Wok
Conceived and founded in 1980, Manchu Wok grew into a national chain across Canada and into the United States over the next nine years. Ownership changed in 1989, and expansion continued with a focus on the United States. Manchu Wok now has close to 150 stores, of which more than 70 percent are franchised.
About Binghamton Hots
Everyone, from college kids and downtown residents to families and workers from local businesses, comes in to Binghamton HOTS for food and fun, throughout the day and night.
You can create your own local a destination that appeals to today’s consumers, including Millennials, who want creative menu options loaded with convenience.
You can create your own local a destination that appeals to today’s consumers, including Millennials, who want creative menu options loaded with convenience.
- You can build business with flexible service options across multiple dayparts - from lunch to dinner to late night - and even offer carry-out, delivery, and catering options, too.
- You can be part of the immense restaurant industry, where demand for customization, convenience and flavor have quick service and fast-casual sales on a continual upward growth trend.
Best of all, you can operate your local HOTS spot with confidence, with our full support at every stage of your restaurant’s operations.