Charleys Philly Steaks

#91

At a Glance

Products & Services: Philly cheesesteaks, grilled subs, fries, salads

Number of Locations: 463

Total Investment: $83.1K - 406.5K

Founded: 1986

Began Franchising: 1991

About Charleys Philly Steaks

Visits to his relatives near Philadelphia inspired Charley Shin's entrepreneurial spirit, and he saw his future in cheesesteak sandwiches. In 1986, Shin opened his first Charley's Grilled Subs at Ohio State University. The then-22-year-old's restaurant became an instant hit with professors and students.

Since then Shin has expanded to locations nationwide. In 1999, he was named Entrepreneur of the Year by Ernst & Young.

Franchise Units

Year	U.S.	Canadian	International	Company Owned
2012	361	4	55	43
2011	353	4	47	30
2010	328	4	47	30
2009	339	3	37	33

Where Seeking Franchisees: Franchisor is seeking new units internationally.

Startup Costs, Ongoing Fees and Financing

Total Investment: $83,095 - $406,504
Franchise Fee: $24,500
Ongoing Royalty Fee: 6%
Term of Franchise Agreement: 10 years, renewable

Financial Requirements

Net Worth: $300,000
Liquid Cash Available: $100,000

Operations

Number of employees needed to run franchised unit: 20. Absentee ownership of franchise is NOT allowed. (100% of current franchisees are owner/operators).

Financing Type	In-House	Third Party
Franchise Fee
Startup Costs
Equipment
Inventory
Accounts Receivable
Payroll

How This Franchise Supports Franchisees

Training: Available at headquarters: 5 weeks. At franchisee's location: 7 days.

Ongoing Support: Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives, Lease Negotiation

Marketing Support: Ad slicks,

Other marketing support: Franchise community website & bulletin board