| ||||
Updated RecentlyGolden Krust vs Spitz Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of Golden Krust vs Spitz including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
||
| Investment | $225,900 - $687,000 | $154,500 - $1,628,500 |
| Franchise Fee | $40,000 | $35,000 |
| Royalty Fee | 3% | - |
| Advertising Fee | 2% | - |
| Year Founded | 1988 | 2013 |
| Year Franchised | 1996 | 2013 |
| Term Of Agreement | 10 years | - |
| Term Of Agreement | 10 years | - |
| Renewal Fee | $25K | - |
Business Experience Requirements |
||
| Experience | - | - |
Financing Options |
||
| In-House/3rd Party | In-House/3rd Party | |
| Franchise Fees | No/Yes | -/- |
| Start-up Costs | No/Yes | -/- |
| Equipment | No/Yes | -/- |
| Inventory | No/Yes | -/- |
| Receivables | No/Yes | -/- |
| Payroll | No/Yes | -/- |
Training & Support |
||
| Training | Our Golden Krust franchise support continues throughout training and staff formation. We will train and assist you in opening and operating your franchise. Our highly experienced Golden Krust staff will take you through our comprehensive three-week course given at our Corporate training Center located at 1381 East Gunhill Road or other designated training restaurants. Upon completion of the course, you will be ready to operate your franchise. Members of our franchise support team will also assist you in your store during your first two weeks of opening to ensure that you are self-sufficient. After this time, the franchise support team will be readily available should you need further assistance. On-The-Job Training: 47 hours Classroom Training: 33 hours Additional Training: At designated operating store | - |
| Support | Golden Krust will guide you the franchisee in the critical decisions involved in starting your business: selecting a site, merchandising the franchise store, assisting with the initial inventory, hiring and training staff, beginning systematic marketing. We also assign experienced professional field service manager to monitor performance and provide advice and direction in regular operations. This ongoing engagement in the business has two purposes: It ensures that you will follow the franchise system, protecting the value of the Golden Krust's market identity. It also gives you the franchisee a consultant who is intimately familiar with this type of business to provide advice and problem solving assistance. Purchasing Co-ops Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection Proprietary Software Franchisee Intranet Platform | - |
| Marketing | Co-op Advertising Ad Templates National Media Regional Advertising Social media SEO Website development Email marketing Loyalty program/app | - |
| Operations |
25% of all franchisees own more than one unit
Absentee ownership of franchise is allowed. (80% of current franchisees are owner/operators) Number of Employees Required to Run: 8 - 8 | - |
Expansion Plans |
||
| US Expansion | Yes | Yes |
| Canada Expansion | No | - |
| International Expansion | Yes | - |
Company Overviews
About Golden Krust
Our franchising program is predicated on the fact that the company will only remain competitive if our franchisees are successful. We are dedicated to achieving that success. Ours is a "partnership" with our franchisees. Consequently, we look for franchisees with certain qualities. These include a strong desire to succeed, the ability to lead effectively and the ability to devote the time and energy necessary to run a successful business. We, therefore, seek people with "common business sense" who are highly qualified to join the Golden Krust family.
Veteran Incentives $10,000 off franchise fee
About Spitz
!["Spitz]("https://fddexchange.com/wp-content/uploads/2020/07/Spitz-300x96.jpg")
Although the SPITZ concept was engineered to appeal to consumers of all
ages, where the menu and decor are most relevant is to the Millennial
and Gen Zs. To understand why this is so important, you only need to
examine those generation’s pursuits and purchasing power. YPulse, the
world leader in youth consumer insight, claims that in 2020 Millennials
and Gen Z teens have the incredible spending power of nearly $3
Trillion. YPulse also reports that the 73 million U.S. Millennials spend
as much as 71% of their monthly expenditures on dining out and take out
purchases. Also important to our brand and menu engineering is
Nielsen’s 2017 study which found that Millennials purchase foods that
harbor a strong social purpose and include multicultural flavors.
From our Wraps & Garden Bowls to our Sangria & Cocktails: fresh, flavorful & so good!
Single Restaurant Program. Under the Single Restaurant
Program, you will sign a Franchise Agreement to operate a single Spitz
Restaurant. The total investment necessary to begin operations of a
single Spitz Restaurant ranges from approximately $301,200 to $769,000.
This includes $35,000 that must be paid to the franchisor or their
affiliate.
Area Development Program. Under the Area Development Program, the franchisor assigns a defined area within which you must develop and operate a minimum of 2 Spitz Restaurants within a specified period of time. The total investment necessary to begin operations of 2 to 4 Spitz Restaurants under an Area Development Agreement ranges from approximately $307,200 to $784,000. This includes $40,000 to $45,000 that must be paid to the franchisor or their affiliate.
Mobile Restaurant Program. Under the Mobile Restaurant Program, you will sign a Franchise Agreement to operate a single Spitz food truck (a “Mobile Restaurant”). The total investment necessary to begin operations of a single Mobile Restaurant ranges from approximately $187,000 to $263,000. This includes $5,000 that must be paid to the franchisor or their affiliate.
Purchase Program. Under the Purchase Program, you will purchase an existing and operating company‐owned Spitz Restaurant from the franchisor’s affiliate. The total investment necessary to begin operations of an Operating Spitz Restaurant ranges from approximately $154,500 to $1,628,500. This includes $142,000 to $575,000 that must be paid to the franchisor or their affiliate.
Area Development Program. Under the Area Development Program, the franchisor assigns a defined area within which you must develop and operate a minimum of 2 Spitz Restaurants within a specified period of time. The total investment necessary to begin operations of 2 to 4 Spitz Restaurants under an Area Development Agreement ranges from approximately $307,200 to $784,000. This includes $40,000 to $45,000 that must be paid to the franchisor or their affiliate.
Mobile Restaurant Program. Under the Mobile Restaurant Program, you will sign a Franchise Agreement to operate a single Spitz food truck (a “Mobile Restaurant”). The total investment necessary to begin operations of a single Mobile Restaurant ranges from approximately $187,000 to $263,000. This includes $5,000 that must be paid to the franchisor or their affiliate.
Purchase Program. Under the Purchase Program, you will purchase an existing and operating company‐owned Spitz Restaurant from the franchisor’s affiliate. The total investment necessary to begin operations of an Operating Spitz Restaurant ranges from approximately $154,500 to $1,628,500. This includes $142,000 to $575,000 that must be paid to the franchisor or their affiliate.