Manchu Wok Franchise
Sunday, January 31, 2010 at 04:57PM Chinese fast food
Conceived and founded in 1980, Manchu Wok grew into a national chain across Canada and into the United States over the next nine years. Ownership changed in 1989, and expansion continued with a focus on the United States. Manchu Wok now has more than 185 stores, of which more than 70 percent are franchised.
Start-up Costs & Franchises Fees
What is the total cost to open a Manchu Wok Franchises?
Total Cost: $278,600-$774,900
Total Franchise Fees: $30,000 USD -$50,000 USD
Ongoing Royalty Fees: 7%
Ongoing Advertising Fees:
Term of Agreement: 5 years
Franchise Agreement Renewal Fee: $3K per year
Contact Information for Manchu Wok
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Manchu Wok |
Phone Number: (905)946-7200 |
Manchu Wok In the Press
No results at this time.Historical Expansion
In what year did Manchu Wok begin operations? 1981
When did Manchu Wok begin selling franchises? 1989
Year United States Canada International Corporate 2004 87 68 0 24 2003 92 69 0 42 2002 84 66 0 33 2001 96 56 2 44 2000 96 54 2 46
Future Expansion
Countries of Interest:
Franchise Financing Information
Cost In House Financing Available? 3rd Party Financing Available? Franchise Fee No No Initial Start-up Capital No No Plant, Property, and Equipment No No Inventory No No Accounts Receivable No No Payroll No No 3rd Party Financing Available? Financing Source(s): Erwin Franchise Capital
Training & Support
Support
In the Pressletter, Meetings, Toll free phone number, Grand opening support, Safety and Security procedures, Field support and site evaluation, Purchasing cooperatives
Marketing
Cooperative advertising, Ad slicks, National media, Regional advertising support
Franchise Operation Restrictions
20% of all franchise business owners own more than one franchise location.Number of employees needed to run franchised unit: 12
Absentee ownership of franchise is allowed. (90% of current franchise business owners are owner/operators)
Qualifications & Business Experience
Business Experience:
Industry experience General business experience Sales & marketing experience
Jason Rager's Inside Information
Can you buy this franchise for no money down? YesPlease note: You must use my system to receive these benefits and so much more. Click here.
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