Nick Paro
Mgmt 100
Franchise blog
Five
guys first store opened in 1986 and didn’t start franchising till 2002 since
then it has grown to be an extremely lucrative business. The franchise five
guys burgers and fries Is very appealing to me they have great food all around
in fact their food has gotten so popular that they are the third most
successful franchises in the country.
The franchise has been in the news a good amount but mostly for how good
their food is. It costs a small
fortune to open a five guys franchise but you will probably make that up in a
few years because their restaurants are always packed from open till closing
time. There aren’t many financing options that I could find for five guys
owners from the company itself. There are also training options for employees
and I am about to explain all that.
Five
guys has been in news a lot lately for the most part for their excellent
tasting food but of course, like most fast food restaurants their food is high
in calories fat and sodium. Regardless of the heath issues with their food the
Huffington post calls five guys Americas favorite burger news stations say that
five guys is the number one burger in America another notable news sites is
forbs list which says five guys is the fastest growing burger chain in America.
What is so appealing to the customer to buy from five guys is well a lot of
things first off it’s the quality of the food most people would say that its
amazing. Next five guys prides itself on a clean healthy environment, also its
down to earth simple to order and simple to eat.
(Watch this video it’s hilarious
and it give a great description of their burgers)
The
financials to own a five guys franchise is hefty. In fact to own a five guys
franchise it will cost you a small fortune at a price range from $152,600-$360,300 with an initial franchise fee of $25,000
with a 20 year minimum investment commitment. There is also a royalty fee of
six percent per year.
In conclusion five guys is one of the
most successful franchises in the country and millions have fell in love with
that messy greasy burger that everyone enjoys. Even though five guys is
expensive to buy investors will quickly make up their expenses because five
guys is voted the best burger in the world and people love it.
Hey Nick,
ReplyDeleteFive Guys is one of the franchises I considered writing about before I chose Golf USA. Five Guys is probably my favorite place for a burger. I could not count how many times I have been outside in a long line waiting for the chance to get one of their delicious burgers. With burgers so delicious and at such a cheap price they are always so busy. This is definitely a franchise that someone would want to put their money into. In a way it surprises me that the royalty fee is what it is because of the popularity of the restaurants. The price range for a total investment and the franchise fee does not surprise me totally because of the amount of business that is produced by Five. If I was to invest in any business it would definitely be Five Guys.
Hey Nick, I also considered writing about Five Guys because down in Florida, where I am from, Five Guys is a very popular restaurant and I go there all the time. The reason I love Five Guys is because they make the best hamburgers out of any other place down in Florida. Every time I go there I can automatically tell it is a very popular place because the line is always out the door, but it is defiantly worth the wait. Five Guys is consistently busy which is why many investors and entrepreneurs would;d want to invest in this Franchise. When it comes to the royalty fee, price range, and total investment, these numbers do not surprise me because like I said Five Guys is constantly busy and the line is always out the door. If I had enough money to invest, Five Guys would defiantly be one of the franchises that I would consider putting my money in to.
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