|
Below is an in-depth analysis and side-by-side comparison of Famous Dave's vs Le Biftheque including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
||
Investment | $481,750 - $4,495,750 | N/A |
Franchise Fee | $45,000 | $40,000 |
Royalty Fee | 5% | - |
Advertising Fee | 1%Nat'l + 1.5% local | - |
Year Founded | 1995 | 1981 |
Year Franchised | 1998 | 1989 |
Term Of Agreement | 20 years | - |
Term Of Agreement | 20 years | - |
Renewal Fee | 50% of then-current fee | - |
Business Experience Requirements |
||
Experience | * Prefer Ownership/management experience in full service, casual dining restaurants, in or near the desired territories. * Multi unit experience is a big plus. * Single units will be considered depending on market conditions, demographics and other criteria. * If Area Development Agreement is chosen, minimum of three units required to be developed. * Minimum LIQUID net worth of $750,000. * Minimum per unit development costs could range from approx $900,000 to $4,000,000. * Proven commitment to customer service and quality food. | - |
Financing Options |
||
In-House/3rd Party | In-House/3rd Party | |
Franchise Fees | No/No | -/- |
Start-up Costs | No/No | -/- |
Equipment | No/Yes | -/- |
Inventory | No/No | -/- |
Receivables | No/No | -/- |
Payroll | No/No | -/- |
Training & Support |
||
Training | - | - |
Support | Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives | - |
Marketing | Co-op advertising, Ad slicks, Regional advertising | - |
Operations |
Franchisees required to buy multiple units/master licenses; 84% of all franchisees own more than one unit Number of employees needed to run franchised unit: 65 Absentee ownership of franchise is NOT allowed. (97% of current franchisees are owner/operators) | - |
Expansion Plans |
||
US Expansion | Yes | - |
Canada Expansion | No | No |
International Expansion | No | No |
Le Biftheque restaurants, with over a quarter of a century of experience, are renowned for exceptional meals at unparalelled value. We age and cut our beef in our own retail butcher shops, allowing us to offer our guests the complete steakhouse experience. With banquet and meeting facilities, we can accommodate every corporate and private need.