|
Below is an in-depth analysis and side-by-side comparison of Great Steak vs Elmer's including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
||
Investment | $155,900 - $520,300 | $712,000 - $3,209,500 |
Franchise Fee | $30,000 | $40,000 |
Royalty Fee | 6% | 4% |
Advertising Fee | - | 1% |
Year Founded | 1983 | - |
Year Franchised | 1986 | - |
Term Of Agreement | 10 years | - |
Term Of Agreement | 10 years | - |
Renewal Fee | $5K | - |
Business Experience Requirements |
||
Experience | - | |
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 | K-Tec is a 5-day training all Kahala franchisees receive and is the companion to brand specific in-store training. It introduces participants to the Kahala culture, level of support provided, and the roles and responsibilities for supporting franchisee and franchisor success. It provides exposure to basic business concepts such as customer service, profitability, quality assurance, inventory, purchasing and distribution, and more. | - |
Support | Newsletter, Meetings, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives | - |
Marketing | Ad slicks, National media, Regional advertising | - |
Operations |
International franchisees required to buy multiple units/master licenses; 35% of all franchisees own more than one unit Number of employees needed to run franchised unit: 10 Absentee ownership of franchise is allowed. (70% of current franchisees are owner/operators) | - |
Expansion Plans |
||
US Expansion | - | - |
Canada Expansion | No | - |
International Expansion | Yes | - |
Elmer's Restaurants have been a family tradition since 1960. The Elmer's Breakfast/Lunch/Dinner restaurants are three-meal-per-day family restaurants, serving quality comfort food with exceptional Guest service. An independent market research firm concluded that "Elmer's Guest loyalty is one of the highest seen in the restaurant industry." Elmer's currently operates 34 Elmer's Restaurants, with new restaurants under development in Washington, California, and Oregon.