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Updated RecentlyTaco Palace vs Diamond Dave's Mexican Restaurants Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of Taco Palace vs Diamond Dave's Mexican Restaurants including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
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| Investment | $53,200 - $133,100 | $189,000 - $325,000 |
| Franchise Fee | $33,950 | $15,000 |
| Royalty Fee | 0-4% | 4% |
| Advertising Fee | - | - |
| Year Founded | 1985 | 1979 |
| Year Franchised | 1996 | 1980 |
| Term Of Agreement | 1 year+ | 10 years+ |
| Term Of Agreement | 1 year+ | 10 years+ |
| Renewal Fee | - | - |
Business Experience Requirements |
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| Experience | ||
Financing Options |
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| In-House/3rd Party | In-House/3rd Party | |
| Franchise Fees | No/No | Yes/No |
| Start-up Costs | No/No | Yes/No |
| Equipment | No/No | Yes/No |
| Inventory | No/No | Yes/No |
| Receivables | No/No | Yes/Yes |
| Payroll | No/No | Yes/Yes |
Training & Support |
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| Training | - | - |
| Support | Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives | Newsletter, Meetings, Grand opening, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives |
| Marketing | Ad slicks | Ad slicks |
| Operations |
0% of all franchisees own more than one unit Number of employees needed to run franchised unit: 12 Absentee ownership of franchise is allowed. (80% of current franchisees are owner/operators) |
20% of all franchisees own more than one unit Number of employees needed to run franchised unit: 20 Absentee ownership of franchise is allowed. (80% of current franchisees are owner/operators) |
Expansion Plans |
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| US Expansion | - | Yes |
| Canada Expansion | No | No |
| International Expansion | Yes | No |
Company Overviews
About Taco Palace
Husband-and-wife team Larry and Sandi Faria bought Taco Palace from Kirk Davison in 1985. The Farias had previously owned a pair of Chevron Oil Co. franchises and brought to Taco Palace 16 years of franchise experience. In developing Taco Palace's franchise program, the Farias were driven by the goal to develop a franchisee-friendly system. Taco Palace franchisees are not required to pay a franchise fee and are strongly encouraged to rent or lease an existing building and then dress it up, rather than construct a new one, a practice that helps to lessen start-up costs. The privately held company is headquartered in Monett, Missouri, and has a co-branding relationship with Kentucky Fried Chicken.
About Diamond Dave's Mexican Restaurants
Native Texan Warren David Cohen founded Diamond Dave's Mexican Restaurants in 1979. Wanting to share the Tex-Mex cuisine of his childhood with families in the Midwest, Cohen created the restaurant chain that by 2000 had more than 30 locations.
Diamond Dave's restaurants serve Mexican favorites like quesadillas, tacos and chimichangas as well as salads, hamburgers and sirloin steak.