The HoneyBaked Ham Company & Cafe vs My Friend's Place Franchise Comparison

Below is an in-depth analysis and side-by-side comparison of The HoneyBaked Ham Company & Cafe vs My Friend's Place including start-up costs and fees, business experience requirements, training & support and financing options.

Start-Up Costs and Fees
 
The HoneyBaked Ham Company & Cafe Franchise
My Friend's Place Franchise
Investment $292,900 - $567,600$156,650 - $260,400
Franchise Fee $30,000$20,000
Royalty Fee 6%5%
Advertising Fee 3.25%1%
Year Founded 19571980
Year Franchised 19981980
Term Of Agreement 7 years-
Term Of Agreement 7 years-
Renewal Fee --


Business Experience Requirements
 
The HoneyBaked Ham Company & Cafe Franchise
My Friend's Place Franchise
Experience
  • Industry experience
  • General business experience
  • Marketing skills
    		• -

    Financing Options
     
    The HoneyBaked Ham Company & Cafe Franchise
    My Friend's Place Franchise
      In-House/3rd PartyIn-House/3rd Party
    Franchise Fees No/No-/-
    Start-up Costs No/No-/-
    Equipment No/No-/-
    Inventory No/No-/-
    Receivables No/No-/-
    Payroll No/No-/-

    Training & Support
     
    The HoneyBaked Ham Company & Cafe Franchise
    My Friend's Place Franchise
    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 1. Headquarters 12 Business Days

    2. Franchisee Site 12 Business Days
    Support Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection Proprietary Software Franchisee Intranet PlatformField Operation Evaluation

    Field Training: At Additional Cost

    Initial Store Opening

    Inventory Control: At Additional Cost
    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)

    		Average Number of Employees: 2 Full-time, 2 Part-time

    Passive Ownership: Not Allowed

    Expansion Plans
     
    The HoneyBaked Ham Company & Cafe Franchise
    My Friend's Place Franchise
    US Expansion YesYes
    Canada Expansion No-
    International Expansion No-

    Company Overviews

    About The HoneyBaked Ham Company & Cafe

    After inventing the spiral slicer, Harry Hoenselaar founded The HoneyBaked Ham Co. and Cafe in 1957. Family-owned and operated for three generations, the company has more than 300 locations in the United States. Incorporated in 1974, the Atlanta-based company has a catalog division, corporate sales businesses and a temporary holiday store system. The company purchased The Hickory Ham Co. and its 40 franchise stores. In addition to its sweetly glazed ham, the company offers HoneyBaked turkey breast, side dishes, cheesecake, key lime pie and sandwiches. HoneyBaked Ham offers a corporate gift-giving program, employee recognition options, and catered meals for holidays and business functions.

    The total investment necessary to begin operation of a HoneyBaked Ham Store ranges from $292,900 to $567,600. This includes initial fees of $45,900
    to $50,500 that must be paid to the franchisor or their affiliate(s).
    If you sign an Area Development Agreement to develop multiple HoneyBaked Ham Stores, you will pay a Development Fee to the franchisor in the amount of $10,000 for each Store that you agree to develop.
    Veteran Incentives  $10,000 off first-store franchise fee
    "Entrepreneur
    #173 in Franchise 500 for 2020.
    #257 in Franchise 500 for 2021.









    About My Friend's Place

    A quality franchise opportunity for your financial independence and future. Our restaurants cater to the quality-oriented customer interested in a quick, yet light and healthy lunch, specializing in sandwiches, salads, soups and home-made desserts. MY FRIEND'S PLACE is a 'Fresh Food Express!'