|
Below is an in-depth analysis and side-by-side comparison of The HoneyBaked Ham Company & Cafe vs Saladworks including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
||
Investment | $292,900 - $567,600 | $210,607 - $534,084 |
Franchise Fee | $30,000 | $35,000 |
Royalty Fee | 6% | 5% |
Advertising Fee | 3.25% | 3% |
Year Founded | 1957 | 1986 |
Year Franchised | 1998 | 1992 |
Term Of Agreement | 7 years | - |
Term Of Agreement | 7 years | - |
Renewal Fee | - | $17500 |
Business Experience Requirements |
||
Experience | - | |
Financing Options |
||
In-House/3rd Party | In-House/3rd Party | |
Franchise Fees | No/No | No/No |
Start-up Costs | No/No | No/No |
Equipment | No/No | No/No |
Inventory | No/No | No/No |
Receivables | No/No | No/No |
Payroll | No/No | No/No |
Training & Support |
||
Training | Comprehensive two-week training, both in-store and in a classroom. Ongoing training through conferences and webinars. On-The-Job Training: 97 hours Classroom Training: 25 hours | - |
Support | 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 slicks, National media, Regional advertising | - |
Operations |
25% of all franchisees own more than one unit Number of employees needed to run franchised unit: 7 - 10
Absentee ownership of franchise is allowed. (100% of current franchisees are owner/operators) | - |
Expansion Plans |
||
US Expansion | Yes | Yes |
Canada Expansion | No | No |
International Expansion | No | No |
A Fresh Opportunity Saladworks offers customers a quick, healthy meal made from the freshest, top-quality ingredients that satisfies even the heartiest appetite. Its what keeps our customers coming back again and again. Not only is Saladworks showing amazing growth but also the majority of our franchisees go on to open additional locations.