| ||||
Updated RecentlyMagic Wok vs Pokeworks Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of Magic Wok vs Pokeworks including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
||
| Investment | $95,000 - $150,000 | $263,000 - $1,968,000 |
| Franchise Fee | $12,500 | $25,000 - $35,000 |
| Royalty Fee | 5% | 6% |
| Advertising Fee | 3% | 1.5% |
| Year Founded | 1983 | 2015 |
| Year Franchised | 1991 | 2016 |
| Term Of Agreement | 10 years +10 | - |
| Term Of Agreement | 10 years +10 | - |
| Renewal Fee | - | - |
Business Experience Requirements |
||
| Experience | - | - |
Financing Options |
||
| In-House/3rd Party | In-House/3rd Party | |
| Franchise Fees | -/- | -/- |
| Start-up Costs | -/- | -/- |
| Equipment | -/- | -/- |
| Inventory | -/- | -/- |
| Receivables | -/- | -/- |
| Payroll | -/- | -/- |
Training & Support |
||
| Training | Toledo, OH 3-4 Weeks | On-The-Job Training: 40 hours Classroom Training: 40 hours Additional Training: At training center |
| Support | Field Operation Evaluation Field Training Initial Store Opening Inventory Control Regional or National Meetings 800 Telephone Hotline | Meetings/Conventions Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection Franchisee Intranet Platform |
| Marketing | - | Co-op Advertising Ad Templates National Media Regional Advertising Social media SEO Website development Email marketing Loyalty program/app |
| Operations | Average Number of Employees: 2 Full-time, 8 Part-time Passive Ownership: Allowed, But Discouraged | Absentee Ownership Allowed Number of Employees Required to Run: 12 |
Expansion Plans |
||
| US Expansion | Yes | Yes |
| Canada Expansion | - | - |
| International Expansion | Yes | Yes |
Company Overviews
About Magic Wok
Quick-service, made-to-order, hot oriental concept. Stand alone, mall, drive-thru, delivery, school lunch and other non-traditional operations. Low barrier to entry, high return on investment. Domestic and international.
About Pokeworks
Pokéworks is a ground-breaking, healthy fast-casual restaurant concept that began on a rainy day in December of 2015 in a tiny location in Midtown Manhattan. Today, it has grown into one of the largest and fastest growing poke brands in the nation and one we can proudly say is anchored almost entirely with multi-unit institutional franchisees.
Pokéworks was born on that quiet Winter day with a trickle of curious New Yorkers that wondered in to experience poke for the first time. Weeks later, hundreds stood in line outside our tiny restaurant willing to wait 45 minutes or more to build their own poke burrito or bowl. While more than 700 New Yorkers were enjoying our poke per day, our ground breaking “The ‘Sushi Burrito’ has hit NYC and its amazing” video went viral and received more than 42 million views. As a result, Pokéworks quickly became known worldwide as one of the leading poke franchise brands.