Start-Up Costs and Fees |
||
| Magic Wok | Zyng Asian Grill | |
| Investment | 95000 - 150000 | 212000 - 480000 |
| Franchise Fee | ||
| Royalty Fee | 5% | 5% |
| Advertising Fee | 3% | |
| Year Founded | 1983 | 1997 |
| Year Franchised | 1991 | 1999 |
| Term Of Agreement | ||
| Term Of Agreement | ||
| Renewal Fee | ||
Business Experience Requirements |
||
| Magic Wok | Zyng Asian Grill | |
| Experience | Industry experience General business experience Marketing skills | |
Financing Options |
||
| Magic Wok | Zyng Asian Grill | |
| Franchise Fees | No | |
| Start-up Costs | No | |
| Equipment | No | |
| Inventory | No | |
| Receivables | No | |
| Payroll | No | |
Training & Support |
||
| Magic Wok | Zyng Asian Grill | |
| Training | Toledo, OH 3-4 Weeks | Additional training periodically |
| Support | Field Operation Evaluation Field Training Initial Store Opening Inventory Control Regional or National Meetings 800 Telephone Hotline | Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives |
| Marketing | Co-op advertising, Ad slicks, National media, Regional advertising | |
| Operations | Average Number of Employees: 2 Full-time, 8 Part-time Passive Ownership: Allowed, But Discouraged | Franchisees required to buy multiple units/master licenses; 100% of all franchisees own more than one unit Number of employees needed to run franchised unit: 9 Absentee ownership of franchise is allowed. (70% of current franchisees are owner/operators) |
Expansion Plans |
||
| Magic Wok | Zyng Asian Grill | |
| US Expansion | Florida, Illinois, Indiana, Maryland, Michigan, Virginia | Alaska, Alabama, Arkansas, Arizona, Colorado, Connecticut, Delaware, Florida, Georgia, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maine, Missouri, Mississippi, Montana, Nebraska, North Carolina, New Hampshire, New Jersey, New Mexico, Nevada, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, Vermont, West Virginia, Wyoming, |
| Canada Expansion | 0 | |
| International Expansion | Mexico, Saudi Arabia |
Start-Up Costs and Fees Mobile |
|
| Investment | |
| Magic Wok | |
| Zyng Asian Grill | |
| Franchise Fee | |
| Magic Wok | |
| Zyng Asian Grill | |
| Royalty Fee | |
| Magic Wok | 5% |
| Zyng Asian Grill | 5% |
| Advertising Fee | |
| Magic Wok | 3% |
| Zyng Asian Grill | |
| Year Founded | |
| Magic Wok | 1983 |
| Zyng Asian Grill | 1997 |
| Year Franchised | |
| Magic Wok | 1991 |
| Zyng Asian Grill | 1999 |
| Term Of Agreement | |
| Magic Wok | 10 years +10 |
| Zyng Asian Grill | 10 years |
| Renewal Fee | |
| Magic Wok | |
| Zyng Asian Grill | |
Business Experience Requirements |
|
| Experience | |
| Magic Wok | |
| Zyng Asian Grill | Industry experience General business experience Marketing skills |
Financing Options |
|
| Franchise Fees | |
| Magic Wok | |
| Zyng Asian Grill | |
| Start-up Costs | |
| Magic Wok | |
| Zyng Asian Grill | |
| Equipment | |
| Magic Wok} | |
| Zyng Asian Grill | |
| Inventory | |
| Magic Wok | |
| Zyng Asian Grill | |
| Receivables | |
| Magic Wok | |
| Zyng Asian Grill | |
| Payroll | |
| Magic Wok | |
| Zyng Asian Grill | |
Training & Support |
|
| Training | |
| Magic Wok | Toledo, OH 3-4 Weeks |
| Zyng Asian Grill | Additional training periodically |
| Support | |
| Magic Wok | Field Operation Evaluation Field Training Initial Store Opening Inventory Control Regional or National Meetings 800 Telephone Hotline |
| Zyng Asian Grill | Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives |
| Marketing | |
| Magic Wok | |
| Zyng Asian Grill | Co-op advertising, Ad slicks, National media, Regional advertising |
| Operations | |
| Magic Wok | Average Number of Employees: 2 Full-time, 8 Part-time Passive Ownership: Allowed, But Discouraged |
| Zyng Asian Grill | Franchisees required to buy multiple units/master licenses; 100% of all franchisees own more than one unit Number of employees needed to run franchised unit: 9 Absentee ownership of franchise is allowed. (70% of current franchisees are owner/operators) |
Expansion Plans |
|
| US Expansion | |
| Magic Wok | Florida, Illinois, Indiana, Maryland, Michigan, Virginia |
| Zyng Asian Grill | Alaska, Alabama, Arkansas, Arizona, Colorado, Connecticut, Delaware, Florida, Georgia, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maine, Missouri, Mississippi, Montana, Nebraska, North Carolina, New Hampshire, New Jersey, New Mexico, Nevada, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, Vermont, West Virginia, Wyoming, |
| Canada Expansion | |
| Magic Wok | |
| Zyng Asian Grill | 0 |
| International Expansion | |
| Magic Wok | Mexico, Saudi Arabia |
| Zyng Asian Grill | |