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Below is an in-depth analysis and side-by-side comparison of Famous Dave's including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
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Investment | $481,750 - $4,495,750 | |
Franchise Fee | $45,000 | |
Royalty Fee | 5% | |
Advertising Fee | 1%Nat'l + 1.5% local | |
Year Founded | 1995 | |
Year Franchised | 1998 | |
Term Of Agreement | 20 years | |
Term Of Agreement | 20 years | |
Renewal Fee | 50% of then-current fee | |
Business Experience Requirements |
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Experience | * Prefer Ownership/management experience in full service, casual dining restaurants, in or near the desired territories. * Multi unit experience is a big plus. * Single units will be considered depending on market conditions, demographics and other criteria. * If Area Development Agreement is chosen, minimum of three units required to be developed. * Minimum LIQUID net worth of $750,000. * Minimum per unit development costs could range from approx $900,000 to $4,000,000. * Proven commitment to customer service and quality food. | |
Financing Options |
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In-House/3rd Party | ||
Franchise Fees | No/No | |
Start-up Costs | No/No | |
Equipment | No/Yes | |
Inventory | No/No | |
Receivables | No/No | |
Payroll | No/No | |
Training & Support |
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Training | - | |
Support | Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives | |
Marketing | Co-op advertising, Ad slicks, Regional advertising | |
Operations |
Franchisees required to buy multiple units/master licenses; 84% of all franchisees own more than one unit Number of employees needed to run franchised unit: 65 Absentee ownership of franchise is NOT allowed. (97% of current franchisees are owner/operators) |
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Expansion Plans |
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US Expansion | Yes | |
Canada Expansion | No | |
International Expansion | No |