Start-Up Costs and Fees |
||
| Mr. Mike's Steakhouse & Bar | Famous Dave's | |
| Investment | 600000 - 1200000 | 481750 - 4495750 |
| Franchise Fee | 0 | 0 |
| Royalty Fee | 5% | |
| Advertising Fee | 1%Nat'l + 1.5% local | |
| Year Founded | 1960 | 1995 |
| Year Franchised | 0 | 1998 |
| Term Of Agreement | ||
| Term Of Agreement | ||
| Renewal Fee | ||
Business Experience Requirements |
||
| Mr. Mike's Steakhouse & Bar | Famous Dave's | |
| Experience | * Prefer Ownership/management experience in full service, casual dining restaurants, in or near the desired territories. * Multi unit experience is a big plus. * Single units will be considered depending on market conditions, demographics and other criteria. * If Area Development Agreement is chosen, minimum of three units required to be developed. * Minimum LIQUID net worth of $750,000. * Minimum per unit development costs could range from approx $900,000 to $4,000,000. * Proven commitment to customer service and quality food. | |
Financing Options |
||
| Mr. Mike's Steakhouse & Bar | Famous Dave's | |
| Franchise Fees | No | |
| Start-up Costs | No | |
| Equipment | No | |
| Inventory | No | |
| Receivables | No | |
| Payroll | No | |
Training & Support |
||
| Mr. Mike's Steakhouse & Bar | Famous Dave's | |
| Training | ||
| Support | Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives | |
| Marketing | Co-op advertising, Ad slicks, Regional advertising | |
| Operations | Franchisees required to buy multiple units/master licenses; 84% of all franchisees own more than one unit Number of employees needed to run franchised unit: 65 Absentee ownership of franchise is NOT allowed. (97% of current franchisees are owner/operators) | |
Expansion Plans |
||
| Mr. Mike's Steakhouse & Bar | Famous Dave's | |
| US Expansion | Alabama, Arkansas, California, Connecticut, Louisiana, Massachusetts, Maine, Mississippi, North Carolina, New York, Oregon, Pennsylvania, Rhode Island, South Carolina, Texas, Vermont, Washington, | |
| Canada Expansion | ||
| International Expansion |
Start-Up Costs and Fees Mobile |
|
| Investment | |
| Mr. Mike's Steakhouse & Bar | |
| Famous Dave's | |
| Franchise Fee | |
| Mr. Mike's Steakhouse & Bar | |
| Famous Dave's | |
| Royalty Fee | |
| Mr. Mike's Steakhouse & Bar | |
| Famous Dave's | 5% |
| Advertising Fee | |
| Mr. Mike's Steakhouse & Bar | |
| Famous Dave's | 1%Nat'l + 1.5% local |
| Year Founded | |
| Mr. Mike's Steakhouse & Bar | 1960 |
| Famous Dave's | 1995 |
| Year Franchised | |
| Mr. Mike's Steakhouse & Bar | 0 |
| Famous Dave's | 1998 |
| Term Of Agreement | |
| Mr. Mike's Steakhouse & Bar | |
| Famous Dave's | 20 years |
| Renewal Fee | |
| Mr. Mike's Steakhouse & Bar | |
| Famous Dave's | 50% of then-current fee |
Business Experience Requirements |
|
| Experience | |
| Mr. Mike's Steakhouse & Bar | |
| Famous Dave's | * Prefer Ownership/management experience in full service, casual dining restaurants, in or near the desired territories. * Multi unit experience is a big plus. * Single units will be considered depending on market conditions, demographics and other criteria. * If Area Development Agreement is chosen, minimum of three units required to be developed. * Minimum LIQUID net worth of $750,000. * Minimum per unit development costs could range from approx $900,000 to $4,000,000. * Proven commitment to customer service and quality food. |
Financing Options |
|
| Franchise Fees | |
| Mr. Mike's Steakhouse & Bar | |
| Famous Dave's | |
| Start-up Costs | |
| Mr. Mike's Steakhouse & Bar | |
| Famous Dave's | |
| Equipment | |
| Mr. Mike's Steakhouse & Bar} | |
| Famous Dave's | |
| Inventory | |
| Mr. Mike's Steakhouse & Bar | |
| Famous Dave's | |
| Receivables | |
| Mr. Mike's Steakhouse & Bar | |
| Famous Dave's | |
| Payroll | |
| Mr. Mike's Steakhouse & Bar | |
| Famous Dave's | |
Training & Support |
|
| Training | |
| Mr. Mike's Steakhouse & Bar | |
| Famous Dave's | |
| Support | |
| Mr. Mike's Steakhouse & Bar | |
| Famous Dave's | Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives |
| Marketing | |
| Mr. Mike's Steakhouse & Bar | |
| Famous Dave's | Co-op advertising, Ad slicks, Regional advertising |
| Operations | |
| Mr. Mike's Steakhouse & Bar | |
| Famous Dave's | Franchisees required to buy multiple units/master licenses; 84% of all franchisees own more than one unit Number of employees needed to run franchised unit: 65 Absentee ownership of franchise is NOT allowed. (97% of current franchisees are owner/operators) |
Expansion Plans |
|
| US Expansion | |
| Mr. Mike's Steakhouse & Bar | |
| Famous Dave's | Alabama, Arkansas, California, Connecticut, Louisiana, Massachusetts, Maine, Mississippi, North Carolina, New York, Oregon, Pennsylvania, Rhode Island, South Carolina, Texas, Vermont, Washington, |
| Canada Expansion | |
| Mr. Mike's Steakhouse & Bar | |
| Famous Dave's | |
| International Expansion | |
| Mr. Mike's Steakhouse & Bar | |
| Famous Dave's | |