- Franchise 500 Rank
-
N/R Not ranked last year
- Initial investment
-
$696K - $996K
- Units as of 2015
-
2
Company Overview
About Lobster Joint
Industry | Food |
---|---|
Related Categories | Miscellaneous Quick-Service Restaurants, Seafood , Miscellaneous Sandwiches |
Founded | 2011 |
Leadership | Bob Levitt, CEO |
Corporate Address |
1073 Manhattan Ave. Brooklyn, NY 11222 |
Social | Facebook, Twitter |
Business Overview
Franchising Since | 2015 (9 years) |
---|---|
# of Units | 2 (as of 2015) |
|
Information for Franchisees
Here's what you need to know if you're interested in opening a Lobster Joint 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
|
$695,600 - $996,400 |
Net Worth Requirement
|
$50,000 - $100,000 |
Cash Requirement
|
$150,000 - $300,000 |
Royalty Fee
|
6% |
Ad Royalty Fee
|
0.5% |
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 | Lobster Joint has relationships with third-party sources which offer financing to cover the following: startup costs, equipment, inventory, accounts receivable, payroll |
---|
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 |
Are exclusive territories available?
|
Yes |
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 Lobster Joint.
Related Franchise Content
Catch up on the latest franchise news, trends, and more.
I've Seen How Reckless Franchisors Can Ruin People's Lives. Here's How the Best Franchises Grow, Find the Right Franchisees, and Thrive Together
These are the four principles of what I call "Responsible Franchising." If you follow them, everyone wins — and can make a lot of money too.
The Top New and Emerging Franchises in 2024
If you're looking for a hot new brand to buy into, these are the ones to consider.
From Pups to Profits — These Are The Top Pet Franchises For 2024
From dog training to traditional grooming to swanky pet spas, explore the highest-ranking pet franchise opportunities and tap into the thriving pet industry.
These 5 Bad Habits Are Hurting Your Business — Here's How to Break Them
When you develop these negative habits, it can severely impact work performance and, because the behavior has become so routine, you may not even realize the harm you're causing. Here's how to tackle these 5 bad business habits head-on.
Franchising Is Not For Everyone. Explore These Lucrative Alternatives to Expand Your Business.
Not every business can be franchised, nor should it. While franchising can be the right growth vehicle for someone with an established brand and proven concept that's ripe for growth, there are other options available for business owners.
How Investing in This Unorthodox Business Strategy Can Produce Strategic Results
Going against the grain of conventional thinking can often lead to significant business wins. At Anago Cleaning Systems, leaning into one factor during economic downturns has proven a sucessful long-term strategy.