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Entrepreneur: Start & Grow Your Business

Golden Krust Franchising Inc.

Caribbean-style restaurant

Background

Founded: 1989 Franchising since: 1996
3958 Park Ave.
Bronx, New york 10457
Phone:
(718)655-7878


Franchisor has 120 employee(s); 10 employee(s) in franchise department.

Franchise Growth
Year U.S. Franchises Canadian Franchises Foreign Franchises Company Owned
2009 115 0 0 6
2008 -- -- -- --
2007 110 0 0 1
2006 105 0 0 1
2005 94 0 0 1

Where Seeking Franchisees
In the U.S. Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Iowa, Idaho, Kansas, Kentucky, Louisiana, Massachusetts, Maine, Michigan, Missouri, Mississippi, Montana, Nebraska, North carolina, New hampshire, New jersey, Nevada, New york, Ohio, Oklahoma, Pennsylvania, South carolina, Tennessee, Texas, United states, Utah, Virginia, Vermont, Wyoming
Outside the U.S.: Canada, Eastern europe

Costs and Fees

Total investment: $91.8K-395K
Franchise fee: $25K/15K
Ongoing royalty fee: 3%
Term of agreement: 10 years, renewable
Express/kiosk option available

Type of Financing Available
In-House Third Party
Franchise Fee No Yes
Startup Costs No Yes
Equipment No Yes
Inventory No No
Accounts Receivable No No
Payroll No No

Qualifications
Net worth requirement: $300K-500K
Cash liquidity requirement: $120K-150K
Business Experience:
  • Industry experience
  • General business experience
  • Marketing skills
  • Organizational skills

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)

Training and Support

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

Rankings

Franchise 500® rank:
#301 (2008); #241 (2007); #229 (2006);

America's Top Global Franchises:
#171 (2007); #168 (2006);