Start-Up Costs and Fees |
||
| Golden Corral | Shoney's Restaurants | |
| Investment | 2700795 - 7037915 | 568000 - 2800000 |
| Franchise Fee | 0 | |
| Royalty Fee | 4% | 2.5-3.5% |
| Advertising Fee | 2.40% | |
| Year Founded | 1973 | 1968 |
| Year Franchised | 1986 | 1971 |
| Term Of Agreement | ||
| Term Of Agreement | ||
| Renewal Fee | ||
Business Experience Requirements |
||
| Golden Corral | Shoney's Restaurants | |
| Experience | Industry experience (or must have partner with industry experience.) | Solid business experience Multi-unit management Proven expertise in retail (food and beverage a plus) Previous franchise experience advantageous |
Financing Options |
||
| Golden Corral | Shoney's Restaurants | |
| Franchise Fees | No | No |
| Start-up Costs | No | No |
| Equipment | No | No |
| Inventory | No | No |
| Receivables | No | No |
| Payroll | No | No |
Training & Support |
||
| Golden Corral | Shoney's Restaurants | |
| Training | On-The-Job Training: 665 hours Classroom Training: 8.5 hours Additional Training: At company training location | |
| Support | Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection Proprietary Software Franchisee Intranet Platform | |
| Marketing | National Media Regional Advertising Social media SEO Website development Email marketing Loyalty program/app | |
| Operations | International franchisees required to buy multiple units/master licenses; 80% of all franchisees own more than one unit Number of employees needed to run franchised unit: 100 Absentee ownership of franchise is NOT allowed. (90% of current franchisees are owner/operators) | |
Expansion Plans |
||
| Golden Corral | Shoney's Restaurants | |
| US Expansion | Nationwide, Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Guam, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming | |
| Canada Expansion | 0 | |
| International Expansion |
Start-Up Costs and Fees Mobile |
|
| Investment | |
| Golden Corral | |
| Shoney's Restaurants | |
| Franchise Fee | |
| Golden Corral | |
| Shoney's Restaurants | |
| Royalty Fee | |
| Golden Corral | 4% |
| Shoney's Restaurants | 2.5-3.5% |
| Advertising Fee | |
| Golden Corral | 2.40% |
| Shoney's Restaurants | |
| Year Founded | |
| Golden Corral | 1973 |
| Shoney's Restaurants | 1968 |
| Year Franchised | |
| Golden Corral | 1986 |
| Shoney's Restaurants | 1971 |
| Term Of Agreement | |
| Golden Corral | 15 years |
| Shoney's Restaurants | |
| Renewal Fee | |
| Golden Corral | 15 years (plus two, 5-year renewal options) |
| Shoney's Restaurants | |
Business Experience Requirements |
|
| Experience | |
| Golden Corral | Industry experience (or must have partner with industry experience.) |
| Shoney's Restaurants | Solid business experience Multi-unit management Proven expertise in retail (food and beverage a plus) Previous franchise experience advantageous |
Financing Options |
|
| Franchise Fees | |
| Golden Corral | No |
| Shoney's Restaurants | No |
| Start-up Costs | |
| Golden Corral | |
| Shoney's Restaurants | |
| Equipment | |
| Golden Corral} | |
| Shoney's Restaurants | |
| Inventory | |
| Golden Corral | |
| Shoney's Restaurants | |
| Receivables | |
| Golden Corral | |
| Shoney's Restaurants | |
| Payroll | |
| Golden Corral | |
| Shoney's Restaurants | |
Training & Support |
|
| Training | |
| Golden Corral | On-The-Job Training: 665 hours Classroom Training: 8.5 hours Additional Training: At company training location |
| Shoney's Restaurants | |
| Support | |
| Golden Corral | Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection Proprietary Software Franchisee Intranet Platform |
| Shoney's Restaurants | |
| Marketing | |
| Golden Corral | National Media Regional Advertising Social media SEO Website development Email marketing Loyalty program/app |
| Shoney's Restaurants | |
| Operations | |
| Golden Corral | International franchisees required to buy multiple units/master licenses; 80% of all franchisees own more than one unit Number of employees needed to run franchised unit: 100 Absentee ownership of franchise is NOT allowed. (90% of current franchisees are owner/operators) |
| Shoney's Restaurants | |
Expansion Plans |
|
| US Expansion | |
| Golden Corral | Nationwide, Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Guam, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming |
| Shoney's Restaurants | |
| Canada Expansion | |
| Golden Corral | |
| Shoney's Restaurants | 0 |
| International Expansion | |
| Golden Corral | |
| Shoney's Restaurants | |