| ||||
Updated RecentlyGolden Corral vs Great Steak Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of Golden Corral vs Great Steak including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
||
| Investment | $2,700,795 - $7,037,915 | $155,900 - $520,300 |
| Franchise Fee | $50,000 | $30,000 |
| Royalty Fee | 4% | 6% |
| Advertising Fee | 2.4% | - |
| Year Founded | 1973 | 1983 |
| Year Franchised | 1986 | 1986 |
| Term Of Agreement | 15 years | 10 years |
| Term Of Agreement | 15 years | 10 years |
| Renewal Fee | 15 years (plus two, 5-year renewal options) | $5K |
Business Experience Requirements |
||
| Experience | ||
Financing Options |
||
| In-House/3rd Party | In-House/3rd Party | |
| Franchise Fees | No/No | No/No |
| Start-up Costs | No/Yes | No/No |
| Equipment | No/Yes | No/Yes |
| Inventory | No/No | No/No |
| Receivables | No/No | No/No |
| Payroll | No/No | No/No |
Training & Support |
||
| Training | On-The-Job Training: 665 hours Classroom Training: 8.5 hours Additional Training: At company training location | K-Tec is a 5-day training all Kahala franchisees receive and is the companion to brand specific in-store training. It introduces participants to the Kahala culture, level of support provided, and the roles and responsibilities for supporting franchisee and franchisor success. It provides exposure to basic business concepts such as customer service, profitability, quality assurance, inventory, purchasing and distribution, and more. |
| Support | Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection Proprietary Software Franchisee Intranet Platform | Newsletter, Meetings, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives |
| Marketing | National Media Regional Advertising Social media SEO Website development Email marketing Loyalty program/app | Ad slicks, National media, Regional advertising |
| Operations |
International franchisees required to buy multiple units/master licenses; 80% of all franchisees own more than one unit Number of employees needed to run franchised unit: 100 Absentee ownership of franchise is NOT allowed. (90% of current franchisees are owner/operators) |
International franchisees required to buy multiple units/master licenses; 35% of all franchisees own more than one unit Number of employees needed to run franchised unit: 10 Absentee ownership of franchise is allowed. (70% of current franchisees are owner/operators) |
Expansion Plans |
||
| US Expansion | Yes | - |
| Canada Expansion | No | No |
| International Expansion | Yes | Yes |
Company Overviews
About Golden Corral
Golden Corral restaurants began as budget steakhouses located principally in small cities from Virginia to Texas. In the mid-1980s, guest requests prompted Golden Corral to reinvent itself by introducing the Buffet & Grill Metro unit that features 160 hot and cold items, a carving station, and the Brass Bell Bakery, which offers rolls, muffins, cookies, pies and pizza made from scratch. The buffet was expanded in 2001 to include cooked-to-order sirloin steaks.
The total investment necessary to begin operation of a restaurant
ranges from $2,700,795 to $5,340,215 for the less expensive restaurant
design, and from $3,453,379 to $7,037,915 for the more expensive
restaurant design. This amount includes $51,400 to $4,482,285 that must
or may be paid to the franchisor or its affiliates.
#90 in Franchise 500 for 2020.
About Great Steak
The Great Steak has manufactured a notoriety for offering the chief cheesesteak encounter. The rich history of the American Philly cheesesteak has propelled the Great Steak brand to respect the cheesesteak's initial beginnings by serving quality, moderate dinners that taste incredible. In the meantime, Great Steak keeps on improving in the cheesesteak classification by offering visitors an assortment of menu alternatives that incorporate claim to fame sandwiches, heated potatoes and celebrated fries. While concentrating on assortment, quality, freshness and stellar client benefit, the Great Steak group additionally perceives the significance of giving excellent support to the establishment group. Support is given through every day operational direction, menu development, advertising apparatuses, lively advancements and store stylistic theme redesigns.
The Great Steak brand is a present, pertinent idea that keeps on remaining consistent with the organization's center qualities, "meat and potatoes." It's this significance and the dedication to serving all-American solace nourishment that makes the Great Steak mark an engaging idea in urban communities the nation over. Kahala, the franchisor of Great Steak, has contrived an unmistakable arrangement and technique to opening and working your eatery. From work out, outline and development to fantastic opening celebrations and promoting strategies, Great Steak is overseen by a group of prepared, talented experts who will tutor and guide you along the way of owning your own particular Great Steak eatery.