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Updated RecentlyGreat Wraps vs Chronic Tacos Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of Great Wraps vs Chronic Tacos including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
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| Investment | $159,500 - $485,500 | $299,000 - $799,000 |
| Franchise Fee | $22,500 | $40,000 |
| Royalty Fee | 5.5% | 6% |
| Advertising Fee | - | 2% |
| Year Founded | 1974 | 2002 |
| Year Franchised | 1983 | 2006 |
| Term Of Agreement | 15 years | - |
| Term Of Agreement | 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. | An operations background in the restaurant industry. |
Financing Options |
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| In-House/3rd Party | In-House/3rd Party | |
| Franchise Fees | No/Yes | -/Yes |
| Start-up Costs | No/Yes | -/Yes |
| Equipment | No/Yes | -/Yes |
| Inventory | No/Yes | -/Yes |
| Receivables | No/No | -/Yes |
| Payroll | No/No | -/Yes |
Training & Support |
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| Training | Our two-week Training Program is extremely thorough and easy to follow. | Chronic Tacos provides a four week training program and hands-on training support through our field representatives. Our programs are continually being developed and updated. On-The-Job Training: 157 hours Classroom Training: 43 hours Additional Training: At training location |
| Support | 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. | Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection Proprietary Software |
| Marketing | - | National Media Regional Advertising Social media Loyalty program/app |
| Operations | - | Number of Employees Required to Run: 12 |
Expansion Plans |
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| US Expansion | - | Yes |
| Canada Expansion | No | - |
| International Expansion | No | Yes |
Company Overviews
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.
About Chronic Tacos
Chronic Tacos is considered a "Fast Casual" concept that offers real Mexican food, from healthy authentic third generation recipes, made fresh daily and made just for you. The Chronic Tacos concept offers the convenience of quick service restaurants, serving fresh, quality products.
Financials:
Minimum Liquid assets $100,000
Net Worth $250,000
Average Cost $299,000 to $799,000 depending on size and location.
Single Unit franchise fee is $40,000
Multi- Unit franchise fee is $35,000 for the first location and $25,000 for each additional location.