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Below is an in-depth analysis and side-by-side comparison of Golden Corral vs T.G.I. Friday's including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
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Investment | $2,700,795 - $7,037,915 | $1,000,000 - $3,000,000 |
Franchise Fee | $50,000 | N/A |
Royalty Fee | 4% | - |
Advertising Fee | 2.4% | - |
Year Founded | 1973 | 1965 |
Year Franchised | 1986 | 1988 |
Term Of Agreement | 15 years | - |
Term Of Agreement | 15 years | - |
Renewal Fee | 15 years (plus two, 5-year renewal options) | - |
Business Experience Requirements |
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Experience | - | |
Financing Options |
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In-House/3rd Party | In-House/3rd Party | |
Franchise Fees | No/No | -/- |
Start-up Costs | No/Yes | -/- |
Equipment | No/Yes | -/- |
Inventory | No/No | -/- |
Receivables | No/No | -/- |
Payroll | No/No | -/- |
Training & Support |
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Training | On-The-Job Training: 665 hours Classroom Training: 8.5 hours Additional Training: At company training location | - |
Support | Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection Proprietary Software Franchisee Intranet Platform | - |
Marketing | National Media Regional Advertising Social media SEO Website development Email marketing Loyalty program/app | - |
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) | - |
Expansion Plans |
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US Expansion | Yes | - |
Canada Expansion | No | - |
International Expansion | Yes | - |
T.G.I. Friday's restaurant brand is seeking franchisees with significant hospitality experience operating multiple restaurants. In addition the ideal candidate will exhibit the ability and have the infrastructure to implement as aggressive growth strategy.