
Golden Krust Caribbean Restaurant
Jamaican food- 2023 Franchise 500 Rank
-
N/R Not ranked last year
- Initial investment
-
$213K - $676K
- Units as of 2022
-
111 4% over 3 years
Here’s what you need to know if you’re interested in opening a Golden Krust Caribbean Restaurant franchise.
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.
Company Overview
About Golden Krust Caribbean Restaurant
- Industry
- Food
- Related Categories
- Miscellaneous Quick-Service Restaurants, Baked Goods
- Founded
- 1989
- Parent Company
- Golden Krust Franchising Inc.
- Leadership
- Scott Harvey, CEO
- Corporate Address
-
399 Knollwood Rd., #117
White Plains, NY 10603
Business Overview
- Franchising Since
- 1996 (27 years)
- # of employees at HQ
- 232
- Where seeking
-
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
- $40,000
- Initial Investment
- $212,600 - $675,900
- Net Worth Requirement
- $500,000
- Cash Requirement
- $200,000
- Veteran Incentives
- $10,000 off royalty and ad fees
- Royalty Fee
- 5%
- Ad Royalty Fee
- 2.5%
- Term of Agreement
- 10 years
- Is franchise term renewable?
- Yes
Financing Options
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
- Ongoing Support
-
Purchasing Co-opsNewsletterMeetings & ConventionsToll-Free LineGrand OpeningOnline SupportSecurity & Safety ProceduresLease NegotiationField OperationsSite SelectionProprietary SoftwareFranchisee Intranet Platform
- Marketing Support
-
Co-op AdvertisingAd TemplatesNational MediaRegional AdvertisingSocial MediaSEOWebsite DevelopmentEmail MarketingLoyalty Program/App
Operations
Additional details about running this franchise.
- Is absentee ownership allowed?
- No
- 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
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.
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