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Golden Krust Franchising Inc.

2014 Franchise 500
#492
At a Glance

Products & Services: Caribbean-style food

Number of Locations: 107

Total Investment: $159.2K - $564K

Founded: 1989

Began Franchising: 1996

About Golden Krust Franchising Inc.

Inspired by Hawthorne & Son's Bakery, started by his parents in St. Andrew, Jamaica, Lowell Hawthorne, his wife Lorna and four siblings and their spouses pooled their resources in 1989 to open the first Golden Krust in Bronx, New York. By 1996, they had 17 restaurants, all in New York City, and decided to expand further through franchising. Today the company has locations throughout the Northeast and Southeast, all serving its Jamaican and Caribbean meals. Golden Krust products are also sold in supermarkets, hospitals, schools, correctional institutions and other retail outlets.

Franchise Units

Year U.S. Canadian International Company Owned
2013 104 0 0 3
2012 110 0 0 3
2011 117 0 0 4
2010 115 0 0 2
Where Seeking Franchisees: Franchisor is seeking new franchise units in the following states:
Arizona, California, Delaware, Florida, Georgia, Illinois, Massachusetts, Maryland, Michigan, Midwest, North Carolina, Northeast, New Jersey, New York, Ohio, Oregon, South, Southeast, Southwest, Texas, Virginia, West.
Franchisor is seeking new units in Canada, Western Europe.
Direct Capital

Startup Costs, Ongoing Fees and Financing

Total Investment: $159,200 - $564,000
Franchise Fee: $15,000 - $25,000
Ongoing Royalty Fee: 3%
Term of Franchise Agreement: 10 years, renewable
Veteran Incentives: $10,000 off franchise fee
Financial Requirements
Net Worth: $300,000 - $500,000
Liquid Cash Available: $120,000 - $150,000
Operations
25% of all franchisees own more than one unit. Number of employees needed to run franchised unit: 8 - 8. Absentee ownership of franchise is allowed. (95% 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: 1 week+. At franchisee's location: 1 week+. At designated operating store : 1 week.
Ongoing Support: Newsletter, Meetings, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives
Marketing Support: Co-op advertising, Ad slicks, National media, Regional advertising,
Other marketing support: Radio, TV, newspapers, magazines, billboards

Franchise Ranking History

Franchise 500®: #492 (2014), #437 (2013), #402 (2012), #267 (2011),

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