Great Steak vs Binghamton Hots Franchise Comparison

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

Start-Up Costs and Fees

 
Great Steak Franchise
Binghamton Hots Franchise
Investment $155,900 - $520,300$122,850 - $213,450
Franchise Fee $30,000$25,000
Royalty Fee 6%5%
Advertising Fee -2%
Year Founded 1983-
Year Franchised 1986-
Term Of Agreement 10 years10 years +5+5
Term Of Agreement 10 years10 years +5+5
Renewal Fee $5K-


Business Experience Requirements

 
Great Steak Franchise
Binghamton Hots Franchise
Experience
  • Industry experience
  • General business experience
  • 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

     
    Great Steak 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

     
    Great Steak Franchise
    Binghamton Hots Franchise
    Training K-Tec is a 5-day training all Kahala franchisees receive and is the companion to brand specific in-store training. It introduces participants to the Kahala culture, level of support provided, and the roles and responsibilities for supporting franchisee and franchisor success. It provides exposure to basic business concepts such as customer service, profitability, quality assurance, inventory, purchasing and distribution, and more.Classroom (up to 16 hours) On-the-job (up to 60 hours) sessions
    Support Newsletter, Meetings, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperativesWe 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 Ad slicks, National media, Regional advertising-
    Operations International franchisees required to buy multiple units/master licenses; 35% of all franchisees own more than one unit

    Number of employees needed to run franchised unit: 10

    Absentee ownership of franchise is allowed. (70% of current franchisees are owner/operators)

    -

    Expansion Plans

     
    Great Steak Franchise
    Binghamton Hots Franchise
    US Expansion -Yes
    Canada Expansion No-
    International Expansion Yes-

    Company Overviews

    About Great Steak

    The Great Steak has manufactured a notoriety for offering the chief cheesesteak encounter. The rich history of the American Philly cheesesteak has propelled the Great Steak brand to respect the cheesesteak's initial beginnings by serving quality, moderate dinners that taste incredible. In the meantime, Great Steak keeps on improving in the cheesesteak classification by offering visitors an assortment of menu alternatives that incorporate claim to fame sandwiches, heated potatoes and celebrated fries. While concentrating on assortment, quality, freshness and stellar client benefit, the Great Steak group additionally perceives the significance of giving excellent support to the establishment group. Support is given through every day operational direction, menu development, advertising apparatuses, lively advancements and store stylistic theme redesigns.
    The Great Steak brand is a present, pertinent idea that keeps on remaining consistent with the organization's center qualities, "meat and potatoes." It's this significance and the dedication to serving all-American solace nourishment that makes the Great Steak mark an engaging idea in urban communities the nation over. Kahala, the franchisor of Great Steak, has contrived an unmistakable arrangement and technique to opening and working your eatery. From work out, outline and development to fantastic opening celebrations and promoting strategies, Great Steak is overseen by a group of prepared, talented experts who will tutor and guide you along the way of owning your own particular Great Steak eatery.

    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.