McDonald's vs Binghamton Hots Franchise Comparison

Below is an in-depth analysis and side-by-side comparison of McDonald's vs Binghamton Hots including start-up costs and fees, business experience requirements, training & support and financing options.

Start-Up Costs and Fees
 
McDonald's Franchise
Binghamton Hots Franchise
Investment $1,314,500 - $2,306,500$122,850 - $213,450
Franchise Fee $45,000$25,000
Royalty Fee 4%5%
Advertising Fee 4%+2%
Year Founded 1955-
Year Franchised 1955-
Term Of Agreement 20 years10 years +5+5
Term Of Agreement 20 years10 years +5+5
Renewal Fee $45K-


Business Experience Requirements
 
McDonald's Franchise
Binghamton Hots Franchise
Experience
  • Industry experience
  • General business experience
  • Marketing skills
    		• 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
     
    McDonald's Franchise
    Binghamton Hots Franchise
      In-House/3rd PartyIn-House/3rd Party
    Franchise Fees No/NoNo/-
    Start-up Costs No/NoNo/-
    Equipment No/YesNo/-
    Inventory No/NoNo/-
    Receivables No/NoNo/-
    Payroll No/NoNo/-

    Training & Support
     
    McDonald's Franchise
    Binghamton Hots Franchise
    Training On-The-Job Training: 500 hours Classroom Training: 72 hours Additional Training: At local McDonald's restaurant Classroom (up to 16 hours) On-the-job (up to 60 hours) sessions
    Support Purchasing Co-ops Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection Proprietary Software 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 Templates National Media Regional Advertising Social media SEO Website development Email marketing Loyalty program/app -
    Operations 82% of all franchisees own more than one unit

    Absentee ownership of franchise is NOT allowed. (100% of current franchisees are owner/operators)

    		-

    Expansion Plans
     
    McDonald's Franchise
    Binghamton Hots Franchise
    US Expansion YesYes
    Canada Expansion No-
    International Expansion Yes-

    Company Overviews

    About McDonald's

    Ray Kroc, a milkshake mixer salesman, ventured to California in 1954 to visit McDonald's hamburger stand, where he heard they were running eight mixers at once. Kroc was impressed by how rapidly customers were served and, seeing an opportunity to sell many more milkshake machines, encouraged brothers Dick and Mac McDonald to open a chain of their restaurants. Kroc became their business partner and opened the first McDonald's in Des Plaines, Illinois in 1955.
    McDonald's brand is in 122 countries around the world. Thirty thousand locations serve 51 million customers each day. More than 70 percent of McDonald's restaurants around the world are owned and operated by independent local business people. Most standalone McDonald's restaurants offer both counter and drive-through service, with indoor and sometimes outdoor seating. The Drive-Thru, Auto-Mac, or McDrive as it is known in many countries, often has separate stations for placing, paying for, and picking up orders, though the former two steps are frequently combined. In some countries "McDrive" locations near highways offer no counter service or seating. In contrast, locations in high-density city neighborhoods often omit drive-through service.


    "Top   ""  "Entrepreneur

      "franchiserankingscom"                                                                                                                         
    #7 on Franchise Rankings.com                                                                                                                                                            
    #3 in Canada's top franchises.
    #3 in Franchise 500 for 2020
    #11 in Franchise 500 for 2021










    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 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.