Mr. Hero vs My Friend's Place Franchise Comparison

Below is an in-depth analysis and side-by-side comparison of Mr. Hero vs My Friend's Place including start-up costs and fees, business experience requirements, training & support and financing options.

Start-Up Costs and Fees
  Mr. Hero My Friend's Place
Investment 113000 - 305000 156650 - 260400
Franchise Fee 0
Royalty Fee 5.50% 5%
Advertising Fee 1%
Year Founded 1965 1980
Year Franchised 1970 1980
Term Of Agreement
Term Of Agreement
Renewal Fee


Business Experience Requirements
  Mr. Hero My Friend's Place
Experience Industry experience General business experience Marketing skills

Financing Options
  Mr. Hero My Friend's Place
 
Franchise Fees No
Start-up Costs No
Equipment No
Inventory No
Receivables No
Payroll No

Training & Support
  Mr. Hero My Friend's Place
Training 1. Headquarters 12 Business Days 2. Franchisee Site 12 Business Days
Support Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives Field Operation Evaluation Field Training: At Additional Cost Initial Store Opening Inventory Control: At Additional Cost
Marketing Co-op advertising, Ad slicks, National media, Regional advertising
Operations International franchisees required to buy multiple units/master licenses; 15-20% of all franchisees own more than one unit Number of employees needed to run franchised unit: 10 Absentee ownership of franchise is NOT allowed. (95% of current franchisees are owner/operators) Average Number of Employees: 2 Full-time, 2 Part-time Passive Ownership: Not Allowed

Expansion Plans
  Mr. Hero My Friend's Place
US Expansion Alabama, Florida, Georgia, Indiana, South Carolina, Texas
Canada Expansion
International Expansion

Start-Up Costs and Fees Mobile
Investment
Mr. Hero
My Friend's Place
Franchise Fee
Mr. Hero
My Friend's Place
Royalty Fee
Mr. Hero 5.50%
My Friend's Place 5%
Advertising Fee
Mr. Hero
My Friend's Place 1%
Year Founded
Mr. Hero 1965
My Friend's Place 1980
Year Franchised
Mr. Hero 1970
My Friend's Place 1980
Term Of Agreement
Mr. Hero 10 years
My Friend's Place
Renewal Fee
Mr. Hero
My Friend's Place


Business Experience Requirements
Experience
Mr. Hero Industry experience General business experience Marketing skills
My Friend's Place

Financing Options
 
Franchise Fees
Mr. Hero No
My Friend's Place No
Start-up Costs
Mr. Hero
My Friend's Place
Equipment
Mr. Hero}
My Friend's Place
Inventory
Mr. Hero
My Friend's Place
Receivables
Mr. Hero
My Friend's Place
Payroll
Mr. Hero
My Friend's Place

Training & Support
Training
Mr. Hero
My Friend's Place 1. Headquarters 12 Business Days 2. Franchisee Site 12 Business Days
Support
Mr. Hero Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives
My Friend's Place Field Operation Evaluation Field Training: At Additional Cost Initial Store Opening Inventory Control: At Additional Cost
Marketing
Mr. Hero Co-op advertising, Ad slicks, National media, Regional advertising
My Friend's Place
Operations
Mr. Hero International franchisees required to buy multiple units/master licenses; 15-20% of all franchisees own more than one unit Number of employees needed to run franchised unit: 10 Absentee ownership of franchise is NOT allowed. (95% of current franchisees are owner/operators)
My Friend's Place Average Number of Employees: 2 Full-time, 2 Part-time Passive Ownership: Not Allowed

Expansion Plans
US Expansion
Mr. Hero
My Friend's Place Alabama, Florida, Georgia, Indiana, South Carolina, Texas
Canada Expansion
Mr. Hero
My Friend's Place
International Expansion
Mr. Hero
My Friend's Place