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Updated RecentlyTaco Palace vs Binghamton Hots Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of Taco Palace vs Binghamton Hots 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 | $122,850 - $213,450 |
| Franchise Fee | $33,950 | $25,000 |
| Royalty Fee | 0-4% | 5% |
| Advertising Fee | - | 2% |
| Year Founded | 1985 | - |
| Year Franchised | 1996 | - |
| Term Of Agreement | 1 year+ | 10 years +5+5 |
| Term Of Agreement | 1 year+ | 10 years +5+5 |
| Renewal Fee | - | - |
Business Experience Requirements |
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| Experience | Some familiarity with restaurant operations is helpful, but it’s not required to be part of the Binghamton HOTS casual restaurant franchise program. We do look for people who will be dedicated to their restaurant operations, and who have solid business and people management experience. The ability to build a strong operations team and potentially open and operate multiple units are also important factors we evaluate. | |
Financing Options |
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| In-House/3rd Party | In-House/3rd Party | |
| Franchise Fees | No/No | No/- |
| Start-up Costs | No/No | No/- |
| Equipment | No/No | No/- |
| Inventory | No/No | No/- |
| Receivables | No/No | No/- |
| Payroll | No/No | No/- |
Training & Support |
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| Training | - | Classroom (up to 16 hours) On-the-job (up to 60 hours) sessions |
| Support | Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives | We will send a representative to assist you and your team on-site around the time of your Grand Opening. We will present you with a copy of our confidential operations manual to help you run your casual restaurant franchise properly on a day-to-day basis. |
| 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 | - | Yes |
| Canada Expansion | No | - |
| International Expansion | Yes | - |
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 Binghamton Hots
You can create your own local a destination that appeals to today’s consumers, including Millennials, who want creative menu options loaded with convenience.
- You can build business with flexible service options across multiple dayparts - from lunch to dinner to late night - and even offer carry-out, delivery, and catering options, too.
- You can be part of the immense restaurant industry, where demand for customization, convenience and flavor have quick service and fast-casual sales on a continual upward growth trend.