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Charleys Philly Steaks

2014 Franchise 500
#108
At a Glance

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

Number of Locations: 516

Total Investment: $101.6K - $465.3K

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
2014 390 4 85 37
2013 379 4 73 43
2012 361 4 55 43
2011 353 4 47 30
2010 328 4 47 30
Where Seeking Franchisees: Franchisor is seeking new units internationally.
Direct Capital

Startup Costs, Ongoing Fees and Financing

Total Investment: $101,572 - $465,282
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).
Direct Capital
Financing Type In-House Third Party
Franchise Fee
Startup Costs
Equipment
Inventory
Accounts Receivable
Payroll

How This Franchise Supports Franchisees

Training: Available at headquarters: 3 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

Franchise Ranking History

Franchise 500®: #108 (2014), #91 (2013), #93 (2012), #112 (2011), #116 (2010),
Fastest-Growing: #79 (2012), #59 (2010),
America's Top Global: #83 (2013), #79 (2012), #95 (2011), #94 (2010),

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