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Below is an in-depth analysis and side-by-side comparison of Wild Noodles vs Binghamton Hots including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
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Investment | $273,500 - $350,000 | $122,850 - $213,450 |
Franchise Fee | $25,000 | $25,000 |
Royalty Fee | 5% | 5% |
Advertising Fee | - | 2% |
Year Founded | 2001 | - |
Year Franchised | 2003 | - |
Term Of Agreement | 20 years | 10 years +5+5 |
Term Of Agreement | 20 years | 10 years +5+5 |
Renewal Fee | 1/2 of current franchise fee | - |
Business Experience Requirements |
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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 |
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In-House/3rd Party | In-House/3rd Party | |
Franchise Fees | No/Yes | No/- |
Start-up Costs | No/Yes | No/- |
Equipment | No/Yes | No/- |
Inventory | No/Yes | No/- |
Receivables | No/No | No/- |
Payroll | No/No | No/- |
Training & Support |
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Training | - | Classroom (up to 16 hours) On-the-job (up to 60 hours) sessions |
Support | Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives | 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 slicks, Regional advertising | - |
Operations |
Franchisees required to buy multiple units/master licenses; 100% of all franchisees own more than one unit Number of employees needed to run franchised unit: 12 - 15
Absentee ownership of franchise is allowed. (100% of current franchisees are owner/operators) | - |
Expansion Plans |
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US Expansion | - | Yes |
Canada Expansion | No | - |
International Expansion | Yes | - |
NO LONGER FRANCHISING