|
Below is an in-depth analysis and side-by-side comparison of Famous Dave's vs Voo Doo BBQ & Grill 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 | $340,500 - $625,000 |
Franchise Fee | $45,000 | $35,000 |
Royalty Fee | 5% | 5% |
Advertising Fee | 1%Nat'l + 1.5% local | 2% |
Year Founded | 1995 | 2002 |
Year Franchised | 1998 | 2006 |
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 | - | You and your key managers will participate in an intense training course for four to six weeks at our headquarters in Baton Rouge. During training you will be given our detailed manual that covers a wide array of topics key to operating your restaurant. Our store opening team will be on site with you several days before you open to help you set up your store and train your staff. We will stay with you for several days after you open to assist in the transition. As needed we will provide on-going training to intro- duce new operating methods and menu items. |
Support | Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives | Our field support team will periodically visit your store to meet with you and provide operational evaluations. Our CEO provides personal financial and performance consulting to each of our franchisees at least once a month. We go above and beyond to assist our franchisees with their success. |
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 | - |
International Expansion | No | - |