|
Below is an in-depth analysis and side-by-side comparison of Famous Dave's vs Off The Grill including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
||
Investment | $481,750 - $4,495,750 | $350,000 |
Franchise Fee | $45,000 | $25,000 |
Royalty Fee | 5% | 4% |
Advertising Fee | 1%Nat'l + 1.5% local | - |
Year Founded | 1995 | 1998 |
Year Franchised | 1998 | 1999 |
Term Of Agreement | 20 years | 10 years |
Term Of Agreement | 20 years | 10 years |
Renewal Fee | 50% of then-current fee | $12.5K |
Business Experience Requirements |
||
Experience | * Prefer Ownership/management experience in full service, casual dining restaurants, in or near the desired territories. * Multi unit experience is a big plus. * Single units will be considered depending on market conditions, demographics and other criteria. * If Area Development Agreement is chosen, minimum of three units required to be developed. * Minimum LIQUID net worth of $750,000. * Minimum per unit development costs could range from approx $900,000 to $4,000,000. * Proven commitment to customer service and quality food. | |
Financing Options |
||
In-House/3rd Party | In-House/3rd Party | |
Franchise Fees | No/No | No/No |
Start-up Costs | No/No | No/Yes |
Equipment | No/Yes | No/Yes |
Inventory | No/No | No/No |
Receivables | No/No | No/No |
Payroll | No/No | No/No |
Training & Support |
||
Training | - | - |
Support | Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives | Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives |
Marketing | Co-op advertising, Ad slicks, Regional advertising | Co-op advertising, National media |
Operations |
Franchisees required to buy multiple units/master licenses; 84% of all franchisees own more than one unit Number of employees needed to run franchised unit: 65 Absentee ownership of franchise is NOT allowed. (97% of current franchisees are owner/operators) |
95% of all franchisees own more than one unit Number of employees needed to run franchised unit: 20 Absentee ownership of franchise is NOT allowed. (75% of current franchisees are owner/operators) |
Expansion Plans |
||
US Expansion | Yes | - |
Canada Expansion | No | No |
International Expansion | No | No |
Off the Grill was founded in 1998 by Alan Thompson. It began franchising in 1999. The privately held company is based in Maryland Heights, Missouri