- 2023 Franchise 500 Rank
N/R Not ranked last year
- Initial investment
$226K - $382K
- Units as of 2021
1 0.0% over 3 years
The ocean is a magical place, and while we can't all travel and dive into its deep waters, we can sample the richness it has to offer. Bailey Seafood is a restaurant that strives to bring the best and freshest seafood straight from the sea to the dining table.
Founded in 1989, Bailey Seafood set out with a mission to deliver customers high-quality and one-of-a-kind menu items. Operating as a family-owned business, the brand keeps customer satisfaction in mind.
Customers may adore Bailey Seafood because they can choose the seafood they like and even see their meals prepared from scratch. Freshness, great taste, and satisfaction are the Bailey Seafood guarantee.
Bailey Seafood opened itself up to franchising in 2019 and is seeking to expand its reach.
Why You May Want To Start a Bailey Seafood Franchise
Bailey Seafood operates on the promise to always deliver seafood of the highest quality. They believe this will keep customers coming back. While franchisees don't need to be professional cooks, they must have superb entrepreneurial and communication skills.
As a franchisee with Bailey Seafood, you should expect to uphold the high standards set by the brand in daily operations. Of course, the ability to market new menus to customers will also help ensure that sales targets are met.
Word of mouth may be one of the best strategies for restaurant success. As a brand, Bailey Seafood may have built its popularity by customers spreading the word of its quality food and service. Individuals that can juggle the pressures of running a restaurant and still manage to keep a happy face might be well-suited to be a Bailey Seafood franchisee.
What Might Make a Bailey Seafood Franchise a Good Choice?
In an age where customers are typically aware of the benefits of healthy diets, high-quality food products are in high demand. Bailey Seafood believes it is a double-threat in the seafood industry since it can deliver fresh seafood products and prepare them expertly on demand. With these unique advantages, Bailey Seafood may be in a good position to succeed.
To be part of the Bailey Seafood team, you should make sure you're financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for ongoing fees that will include advertising, royalty, and potential renewal fees. Franchisees will also need to meet the company's set net worth requirements.
How To Open A Bailey Seafood Franchise
With decades of experience in the industry, Bailey Seafood knows what it takes to grow a brand. The company is prepared to provide franchisees with the knowledge and skills necessary to master its unique business model. If awarded a franchise, expect marketing and operational support, including access to vendor partnerships.
Before making any financial commitment or signing an agreement with the Bailey Seafood franchise, you must perform your due diligence and establish if this is the right opportunity for you. As part of your due diligence, you may want to speak to existing franchisees and ask the Bailey Seafood franchising team questions.
About Bailey Seafood
|Franchising Since||2019 (4 years)|
|# of employees at HQ||10|
|# of Units||1 (as of 2021)|
Information for Franchisees
Here's what you need to know if you're interested in opening a Bailey Seafood 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
Definition: The initial fee paid to a franchisor to join their system
What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. This fee is usually due at the signing of the franchise agreement and covers the right to use the franchisor's trademarks, name, and related business systems.
Definition: The total amount necessary to begin operation of the franchise
What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high.
|$226,250 - $381,500|
Net Worth Requirement
Definition: The minimum net worth you must have in order to qualify to become a franchisee of this company
What you need to know: Net worth is the value of a person's assets minus liabilities. Assets include cash, stocks, retirement accounts, and real estate. Liabilities include items like mortgages, car payments, and credit card debt.
Definition: A ongoing fee paid to the franchisor on a regular basis.
What you need to know: Most franchisors require franchisees to pay an ongoing royalty fee, which is detailed in Item 6 of the FDD. This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee.
Ad Royalty Fee
Definition: An going fee paid to the franchisor on a regular basis to support advertising or marketing efforts.
What you need to know: This may also be called advertising fee, marketing fee, brand fund fee, and more, but the basic purpose is the same-- to support promotion of the brand systemwide. As with the royalty fee, it is detailed in Item 6 of the FDD, and can be a percentage of weekly or monthly gross sales or a weekly, monthly, or annual fee.
Term of Agreement
Definition: The length of time your franchise agreement will last.
What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee.
|Is franchise term renewable?||Yes|
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
|Third Party Financing||Bailey Seafood 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||20 hours|
|Classroom Training||14 hours|
Additional details about running this franchise.
|Is absentee ownership allowed?||No|
Can this franchise be run from home/mobile unit?
Definition: The business can be run from your home and/or a vehicle, and it is not necessary to have a retail facility, office space, or warehouse.
Can this franchise be run part time?
Definition: This business can be run by the owner on a part-time basis (less than 40 hours per week) and/or as a side business; it is not necessary for the business to be open/run full-time.
|# of employees required to run||5-7|
Are exclusive territories available?
Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened.
What you need to know: Territory size may be based on factors such as radius, population size, zip codes, and more. Details can be found in Item 12 of the FDD.
Interested in ownership opportunities like Bailey Seafood? Request a free consultation with a Franchise Advisor now.
Are you eager to see what else is out there? Browse franchises that are similar to Bailey Seafood.
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