Golden Corral Franchise
Thursday, April 22, 2010 at 08:49PM Family-style restaurant featuring steaks, buffet and bakery items
Golden Corral restaurants began as budget steakhouses located principally in small cities from Virginia to Texas. In the mid-1980s, guest requests prompted Golden Corral to reinvent itself by introducing the Buffet & Grill Metro unit that features 160 hot and cold items, a carving station, and the Brass Bell Bakery, which offers rolls, muffins, cookies, pies and pizza made from scratch. The buffet was expanded in 2001 to include cooked-to-order sirloin steaks. Smaller restaurant designs are available for smaller markets.
Start-up Costs & Franchises Fees
What is the total cost to open a Golden Corral Franchises?
Total Cost: $2,068,825-$6,430,280
Total Franchise Fees: $50,000 USD
Ongoing Royalty Fees: 4%
Ongoing Advertising Fees: 2%
Term of Agreement: 15 years
Franchise Agreement Renewal Fee: $13.3K/5 years
Contact Information for Golden Corral
|
Golden Corral Franchising Systems Inc. |
Phone Number: (800)284-5673 |
Golden Corral In the Press
No results at this time.Historical Expansion
In what year did Golden Corral begin operations? 1973
When did Golden Corral begin selling franchises? 1987
Year United States Canada International Corporate 2004 350 0 0 119 2003 348 0 0 122 2002 350 0 0 122 2001 344 0 0 120 2000 316 0 2 134
Future Expansion
United States: Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, Nebraska, North Carolina, North Dakota, New Hampshire, New Jersey, New Mexico, Nevada, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Vermont, Washington, Wisconsin, West Virginia, Wyoming,
Countries of Interest:
Franchise Financing Information
Cost In House Financing Available? 3rd Party Financing Available? Franchise Fee No Yes Initial Start-up Capital No Yes Plant, Property, and Equipment No Yes Inventory No Yes Accounts Receivable No Yes Payroll No Yes
Training & Support
Support
In the Pressletter, Meetings, Toll free phone number, Grand opening support, Internet referrals, Safety and Security procedures, Field support and site evaluation, Purchasing cooperatives
Marketing
Cooperative advertising, Ad slicks, Regional advertising support
Franchise Operation Restrictions
International franchise business owners required to buy multiple units/master licenses; 80% of all franchise business owners own more than one franchise location.Number of employees needed to run franchised unit: 100
Absentee ownership of this franchise business is not available to new franchisees. (90% of current franchise business owners are owner/operators)
Qualifications & Business Experience
Business Experience:
Industry experience (or must have partner with industry experience.)
Franchise Analyzer Professional's Inside Information
Can you buy this franchise for no money down? YesPlease note: You must download a free copy of Franchise Analyzer Professional to receive these benefits and so much more. Click here to download your FREE copy now.
What key terms in the franchise agreement can be negotiated? Cross-default provisions, arbitration clause, personal guarantee, default cure periods, non-compete agreement, favorable valuations for corporate buyout
Can you negotiate lower royalties during start-up? Yes
Can you purchase multiple franchises for a discounted franchise fee? Yes
Can you receive lower advertising fees? Yes
Will I know when the franchise break even? Yes
Will my personal assets including my home be safe in case my franchise business fails? Yes