
Golden Corral
Family steakhouses, buffets, and bakeries- 2023 Franchise 500 Rank
-
#411 Not ranked last year
- Initial investment
-
$2.7M - $7.8M
- Units as of 2022
-
368 25% over 3 years
Golden Corral, founded in 1973, is an American restaurant chain that offers an all-you-can-eat buffet and grill. With more than 150 food options, they strive to offer something for everyone. For dinners, they offer a fresh salad bar, hot meals, and delicious desserts. Golden Corral is known for its buffet-style food and great ambiance. They have more than 450 locations and enjoy providing quality food in hefty portions.
As you run your franchise, you might provide quality meals to hundreds of people through your open restaurant. It also offers curbside to go for those in a rush. The perfect candidate for a Golden Corral franchisee is passionate about great food, bringing people together, and has some restaurant experience.
Why You May Want to Start a Golden Corral Franchise
If you love the idea of offering quality and delicious food to people, then a Golden Corral Franchise might be for you. They provide a variety of food and dessert options that cater to people of all ages. They also offer a restaurant online menu, which may allow customers to be drawn to the sights of the delicious foods.
Using their classic and proprietary recipes, you may prepare some amazing dishes and serve them to loyal customers. The locations of the Golden Corral are all throughout the United States. The name brand itself is known by many Americans.
As a Golden Corral franchisee, you might join a vast network of fast-food restaurants committed to providing quality, affordable, and delicious food. You will strive to provide a place for people and families to come together and enjoy a great meal in a fun and casual environment.
What Might Make a Golden Corral Franchise a Good Choice?
When seeking to open a Golden Corral franchise, be prepared to make an initial investment made up of a franchise fee and other startup costs. You’ll want to make sure you have enough capital available to cover potential fees, as well. These fees will include royalty fees, advertising fees, and renewal fees.
Golden Corral has been ranked in Entrepreneur’s Franchise 500 many times in the past several decades. This ranking is based on an evaluation of more than 150 data points in the areas of costs and fees, size and growth, franchisee support, brand strength, and financial strength and stability.
Golden Corral has carved a niche for itself in the market. They also strive to offer a great work culture, fantastic community, and home-style favorite foods.
How Do You Open a Golden Corral Franchise?
As you decide if opening a Golden Corral franchise is the right decision for you, make sure you take time to explore the opportunity in your community. You’ll then apply with a franchise request form. A franchise sales representative may reach out to you with more information if they see you as a good fit for the brand. This information consists of their brand, vision, and any details regarding starting up your franchise. They might also help you look into possible franchise locations.
Once you’ve signed on board, Golden Corral will typically take you through their franchise process. This includes site construction and management training. You will also receive unit opening support, as well as ongoing operations and marketing support. Golden Corral is ready to support you every step of the way.
Company Overview
About Golden Corral
- Industry
- Food
- Related Categories
- Miscellaneous Full-Service Restaurants, Steakhouses
- Founded
- 1973
- Parent Company
- Golden Corral Corp.
- Leadership
- Lance Trenary, CEO
- Corporate Address
-
P.O. Box 29502
Raleigh, NC 27612
Business Overview
- Franchising Since
- 1987 (2023-1987 years)
- # of employees at HQ
- 71
- Where seeking
-
This company is offering new franchisees throughout the US.
This company is offering new franchisees in the following international regions: Canada, Mexico
- # of Units
- 368 (as of 2022)
Information for Franchisees
Here's what you need to know if you're interested in opening a Golden Corral 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
Information Circle - $50,000
-
Initial Investment
Information Circle - $2,701,410 - $7,774,230
-
Net Worth Requirement
Information Circle - $2,500,000
-
Cash Requirement
Information Circle - $500,000
-
Veteran Incentives
Information Circle - 50% off franchise fee
-
Royalty Fee
Information Circle - 4%
-
Ad Royalty Fee
Information Circle - 2.4%
-
Term of Agreement
Information Circle - 15 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 Corral has relationships with third-party sources which offer financing to cover the following: startup costs, equipment
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
- 722 hours
- Classroom Training
- 41.5 hours
- Ongoing Support
-
NewsletterMeetings & ConventionsToll-Free LineGrand OpeningOnline SupportSecurity & Safety ProceduresField OperationsSite SelectionProprietary Software
- Marketing Support
-
Co-op AdvertisingAd TemplatesNational MediaRegional AdvertisingSocial MediaEmail MarketingLoyalty Program/App
Operations
Additional details about running this franchise.
- Is absentee ownership allowed?
- No
-
Can this franchise be run from home/mobile unit?
Information Circle - No
-
Can this franchise be run part time?
Information Circle - No
- # of employees required to run
- 100
-
Are exclusive territories available?
Information Circle - Yes
Interested in ownership opportunities like Golden Corral? Request a free consultation with a Franchise Advisor now.
Franchise 500 Ranking History
Compare where Golden Corral landed on this year's Franchise 500 Ranking versus previous years.
Additional Rankings
Curious to know where Golden Corral ranked on other franchise lists? Find out below.
Ranked #411 in 2023
Entrepreneur’s 44th annual Franchise 500® ranking shines a light on the unique challenges and changes that have shaped the franchise industry over the last year—and how franchisors have adapted and evolved to meet them.
Ranked #5 in Miscellaneous Full-Service Restaurants in 2022
Our annual list of the top restaurant and other food franchises, divided up by category, is the perfect place to start if you’re craving a food-based business opportunity.
Sign Up for Our Franchise Newsletter
Stay up to date on the latest news and trends affecting the franchise industry.
Related Franchises
Are you eager to see what else is out there? Browse franchises that are similar to Golden Corral.
Related Franchise Content
Catch up on the latest franchise news, trends, and more.
Florida Burger King to Pay $8 Million to Customer Who Slipped and Fell in Restaurant Bathroom
The case marks one of the largest slip-and-fall verdicts in Florida's history.
6 Things to Consider When Getting Out of a Franchise Agreement
Want to get out of your franchise agreement? Here are six things to consider
7 Essential Questions to Ask Yourself Before Starting a Franchise
Starting a franchise requires a hard look in the mirror to decide if you really have the makeup to become an entrepreneur. Start by reflecting on yourself and your goals with these questions.
'Worst Day of My Life': Fans Are Furious as Dairy Queen Removes Iconic Item From Menu Just Ahead of Summer
The popular flavor has been on (and sometimes off) menus for the last five years.
With Company Layoffs Increasing, Here's Why Franchising Is the Next Best Move
Here's why franchise ownership is a great option for recently laid-off employees who want to pursue entrepreneurship as their next step.
Why a Strong Chief Financial Officer Is Crucial for Your Franchise — and What to Look for When Hiring One
A successful private equity transaction for your franchise business means bringing on the right strategic thought partner.