Golden Krust Caribbean Restaurant

Golden Krust Caribbean Restaurant

Caribbean-style food
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2022 Franchise 500 Rank
N/R Not ranked last year
See the Full List
Initial investment
$226K - $687K
Units as of 2020
109 -7.6% over 3 years

Company Overview

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.

About Golden Krust Caribbean Restaurant

Industry
Food
Founded
1989
Parent Company
Golden Krust Bakery
Leadership
Al Novas, Chairman, CEO, & President

Franchising Overview

Franchising Since
1996 (26 years)
# of employees at HQ
232
Where seeking

This company is seeking new franchisees throughout the US.

This company is seeking new franchisees in the following international regions:

# of Units
109 (as of 2020)

Franchisor Information

Corporate Address
399 Knollwood Rd., #117
White Plains, NY 10603

Information for Franchisees

Here’s what you need to know if you’re interested in opening a Golden Krust Caribbean Restaurant franchise.

Financial Requirements & Ongoing Fees

Here’s what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.

Initial Franchise Fee
$40,000
Initial Investment
$225,900 - $687,000
Net Worth Requirement
$500,000
Cash Requirement
$200,000
Royalty Fee
5%
Ad Royalty Fee
2.5%
Term of Agreement
10 years
Is franchise term renewable?
Yes

Financing Options

Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.

Third Party Financing
Golden Krust Caribbean Restaurant has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll

Training & Support Offered

Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.

On-The-Job Training
47 hours
Classroom Training
33 hours
Additional Training
At designated operating store
Ongoing Support
Purchasing Co-ops
Newsletter
Meetings & Conventions
Toll-Free Line
Grand Opening
Online Support
Security & Safety Procedures
Lease Negotiation
Field Operations
Site Selection
Proprietary Software
Franchisee Intranet Platform
Marketing Support
Co-op Advertising
Ad Templates
National Media
Regional Advertising
Marketing Planning & Support
Social Media
SEO
Website Development
Email Marketing
Loyalty Program/App

Operations

Additional details about running this franchise.

Is absentee ownership allowed?
Yes
Can this franchise be run from home/mobile unit?
No
Can this franchise be run part time?
No
# of employees required to run
8-8
Are exclusive territories available?
No

Franchise 500 Ranking History

Compare where Golden Krust Caribbean Restaurant landed on this year’s Franchise 500 Ranking versus previous years.

Additional Rankings

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Disclaimer
The information on this page is not intended as an endorsement or recommendation of any particular franchise by Entrepreneur Media. Our franchise listings and rankings are solely research tools you can use to compare franchise operations. Entrepreneur stresses that you should always conduct your own independent investigation before investing in a franchise. That should include reviewing the franchisor's legal documents, consulting with an attorney and an accountant, and talking to former and current franchisees.
Updated: February 8th, 2021