- 2023 Franchise 500 Rank
N/R Not ranked last year
- Initial investment
$213K - $676K
- Units as of 2022
111 4% over 3 years
Golden Krust is a chain of restaurants that has been sharing the taste of the Caribbean since 1989. It strives to be known as the home of the world’s best-tasting patties, jerk chicken, and fresh, homemade soup. Founded by the Hawthorne family, it has gained popularity across the country.
In 1996, the Hawthornes began franchising the Golden Krust Carribean Restaurant. Today, more than 100 restaurants are operating in the United States. There are restaurants in California, Connecticut, District of Columbia, Florida, Georgia, Illinois, Maryland, Massachusetts, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Texas, and Virginia.
Why You May Want to Start a Golden Krust Caribbean Restaurant Franchise
Golden Krust is the largest authentic maker of Caribbean cuisines. They've been in operation for over three decades and have a heritage of unmatched recipes.
The Golden Krust team does its best to support its franchisees. They provide support through training, site selection, and assistance in selecting and purchasing or leasing equipment. The Golden Krust team will provide you with the recipe for the tasty food that has captured their customers over the years.
They also have partnered with third-party services to help franchisees cover expenses including the franchise fee and startup costs, among others.
What Might Make Golden Krust Caribbean Restaurant a Good Choice?
If you want to open up a Golden Krust Caribbean Restaurant, you should make sure you're financially ready for an initial investment including a franchise fee and potential startup costs. You should have enough capital available to cover potential costs. The initial investment will also include advertising fund contributions, training expenses, rent, signage, furniture and equipment, leasehold improvements, and the opening supplies. Franchisees may also need to meet the company's set net worth and liquid capital requirements.
Additionally, as you decide whether you wish to open a Golden Krust Caribbean Restaurant franchise, make sure you take time to explore the opportunity. Research the brand and your local area to see if a franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.
How to Open a Golden Krust Caribbean Restaurant Franchise
The process of owning a Golden Krust franchise is simple and direct. The first step is to express your interest in the opportunity by submitting your general inquiry. You will get the Golden Krust Franchise Disclosure Document for you to review and make an informed decision.
After this, you may have an opportunity to meet the Golden Krust leadership team. They will address any questions you may have about the franchise and the details surrounding the Franchise Disclosure Document. If the brand chooses to move forward with you, you may be invited to attend the Golden Krust discovery day.
The discovery day may include a tour of the facility. You may then proceed with signing a franchise agreement if they extend the offer to you. The commitment you make will be for ten years, and renewing the contract is optional. As common with other restaurants, you will open a Golden Krust Caribbean Restaurant that provides a unique, fun-filled, and Caribbean-themed experience to your patrons.
About Golden Krust Caribbean Restaurant
|Franchising Since||1996 (27 years)|
|# of employees at HQ||232|
This company is offering new franchisees in the following US states: Connecticut, District of Columbia, Florida, Georgia, Illinois, Massachusetts, Maryland, North Carolina, New Jersey, New York, Pennsylvania, Texas
|# of Units||111 (as of 2022)|
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
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.
|$212,600 - $675,900|
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: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.
Definition: A discount or other incentive offered to military veterans who buy a franchise with this company.
|$10,000 off royalty and ad fees|
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||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||120 hours|
|Classroom Training||40 hours|
Meetings & Conventions
Security & Safety Procedures
Franchisee Intranet Platform
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||8-8|
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 Golden Krust Caribbean Restaurant? Request a free consultation with a Franchise Advisor now.
Franchise 500 Ranking History
Compare where Golden Krust Caribbean Restaurant landed on this year's Franchise 500 Ranking versus previous years.
Curious to know where Golden Krust Caribbean Restaurant ranked on other franchise lists? Find out below.
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