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Below is an in-depth analysis and side-by-side comparison of Great Wraps vs Sofi's Crepes including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
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Investment | $159,500 - $485,500 | $106,033 - $254,500 |
Franchise Fee | $22,500 | $30,000 |
Royalty Fee | 5.5% | 6% |
Advertising Fee | - | 2% local +1%Nat'l |
Year Founded | 1974 | - |
Year Franchised | 1983 | - |
Term Of Agreement | 15 years | 5 years+5+5+5 |
Term Of Agreement | 15 years | 5 years+5+5+5 |
Renewal Fee | $5000 | - |
Business Experience Requirements |
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Experience | All you need is a willingness to follow our proven systems, good communication skills, and a passion for excellence - we'll teach you the rest. Existing liquid assets (CASH) of at least $100,000 and a net worth of $250,000. With that, you are then well-positioned to approach the Lender for the rest. | - |
Financing Options |
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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/No | -/- |
Payroll | No/No | -/- |
Training & Support |
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Training | Our two-week Training Program is extremely thorough and easy to follow. | The initial training covers all material aspects of the operations of a SOFI'S CREPES franchise and is comprised of classroom and on-the-job training. |
Support | Once you're open for business, we're sure that you'll find the Great Wraps a simple business to operate and our supports systems incredibly effective. | - |
Marketing | - | - |
Operations | - | SOFI'S CREPES offers you the opportunity to operate a restaurant offering quickly prepared specialty crepes and a variety of other delicious European and internationally inspired foods and beverages in a pleasant and comfortable environment in which customers can see the crepes being made. |
Expansion Plans |
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US Expansion | - | - |
Canada Expansion | No | - |
International Expansion | No | - |
Great Wraps served its first hot wrapped sandwich in 1974, providing customers with a quick alternative to hamburgers. Today the company offers a menu that includes tortilla and pita wraps, cheesesteaks and smoothies.