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Updated RecentlyTaco Palace vs Great Wraps Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of Taco Palace vs Great Wraps 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 | $159,500 - $485,500 |
| Franchise Fee | $33,950 | $22,500 |
| Royalty Fee | 0-4% | 5.5% |
| Advertising Fee | - | - |
| Year Founded | 1985 | 1974 |
| Year Franchised | 1996 | 1983 |
| Term Of Agreement | 1 year+ | 15 years |
| Term Of Agreement | 1 year+ | 15 years |
| 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. |
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Financing Options |
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| In-House/3rd Party | In-House/3rd Party | |
| Franchise Fees | No/No | No/Yes |
| Start-up Costs | No/No | No/Yes |
| Equipment | No/No | No/Yes |
| Inventory | No/No | No/Yes |
| Receivables | No/No | No/No |
| Payroll | No/No | No/No |
Training & Support |
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| Training | - | Our two-week Training Program is extremely thorough and easy to follow. |
| Support | Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives | 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 | 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) | - |
Expansion Plans |
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| US Expansion | - | - |
| 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 Great Wraps
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.