| ||||
Updated RecentlyHuHot Mongolian Grill vs Magic Wok Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of HuHot Mongolian Grill vs Magic Wok including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
||
| Investment | $984,000 - $1,219,000 | $95,000 - $150,000 |
| Franchise Fee | $40,000 | $12,500 |
| Royalty Fee | 5% | 5% |
| Advertising Fee | 0.5% | 3% |
| Year Founded | 1999 | 1983 |
| Year Franchised | 2001 | 1991 |
| Term Of Agreement | 15 years | 10 years +10 |
| Term Of Agreement | 15 years | 10 years +10 |
| Renewal Fee | - | - |
Business Experience Requirements |
||
| Experience | # Have a proven track record of business ownership & restaurant ownership that can contribute to the development of our brand # Have local knowledge and expertise in the areas of consumer preferences, real estate, government regulations, labor, and distribution issues in the area in which you'll be franchising # Have access to adequate capital # Philosophically aligned | - |
Financing Options |
||
| In-House/3rd Party | In-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 |
||
| Training | - | Toledo, OH 3-4 Weeks |
| Support | Grand opening, Internet, Security/safety procedures, Field operations/evaluations | Field Operation Evaluation Field Training Initial Store Opening Inventory Control Regional or National Meetings 800 Telephone Hotline |
| Marketing | Co-op advertising, Ad slicks, Regional advertising | - |
| Operations |
50% of all franchisees own more than one unit Number of employees needed to run franchised unit: 50 Absentee ownership of franchise is allowed. (50% of current franchisees are owner/operators) | Average Number of Employees: 2 Full-time, 8 Part-time Passive Ownership: Allowed, But Discouraged |
Expansion Plans |
||
| US Expansion | - | Yes |
| Canada Expansion | No | - |
| International Expansion | No | Yes |
Company Overviews
About HuHot Mongolian Grill
HuHot Mongolian Grills, L.L.C. started with a Mongolian BBQ grill called Mongos Mongolian Grill in Missoula, Montana in June 1999. Since then, the concept has proven to be very successful and the company plans to rapidly expand. The name HuHot (the ancient capital of inner-Mongolia) was chosen for future and franchised restaurants. It’s trampling old notions of full-service dining. Warming lamps and steam tables lie smashed in its wake. At HuHot, diners customize their own meals by choosing from dozens of fresh vegetables, meats, noodles and sauces.
About Magic Wok
Quick-service, made-to-order, hot oriental concept. Stand alone, mall, drive-thru, delivery, school lunch and other non-traditional operations. Low barrier to entry, high return on investment. Domestic and international.