How Much Does It Cost to Start a Popeyes Chicken Franchise?
Popeyes Chicken is practically as famous as the Louisiana bayou itself. If you have ever dined in on of their establishments, you know that it is a fast paced environment that is often busy. This unique franchise opportunity enables owners to specialize and serve a delicious menu selection of chicken. Not ideal for those wishing to break into a health conscious business; Popeyes makes no apologies for their tasty morsels.
Taking Pride In All Aspects of Your Franchise
You know you will have what it takes to succeed if you are equally comfortable cleaning the deep fryers and changing the grease as you are serving at the counter. It is vital to embrace all aspects of your new franchise. Cleaning the bathrooms, ensuring the floor is not slippery and maintaining a friendly demeanor during every process is the name of the game. Set yourself up for success by showing your staff what it looks like to tackle every task enthusiastically and efficiently. Every shift you work enables you to provide some training as your staff can watch and learn.
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Prior to being approved for your Popeyes franchise, you will have to prove that you have a minimum of $500K in liquid assets and a minimum net worth of $1M. Previous experience in a franchise is a huge advantage. In order to be awarded this opportunity, it is necessary to prove that you have solid experience operating in a restaurant atmosphere. Past restaurant ownership is excellent.
Be prepared to pay $35K for the restaurant. There is a development fee of $12,500 as well. Approximately 4% of your gross sales will be delegated to Marketing and there is a Royalty fee of five percent of gross sales that you are required to pay Popeyes.
Start Up Costs
Your estimated cost to get your Popeyes franchise up and running is between $235K and $454K. These amounts do no include construction build out costs or real estate. There are numerous avenues to consider when it comes to location. Free-standing venues and in-line opportunities are the most common choices. Many Popeyes locations can be found in shopping malls, airports and university and college campuses. Deciding on your location will dramatically influence your bottom line. If you don't need to incorporate bathrooms, a parking lot or seating area; consider a smaller and busier location such as a food court situation. Those who prefer a free standing location need to estimate real estate accordingly.
If you love watching your business grow and enjoy setting financial goals, owning a franchise is a great opportunity. Don't forget to budget for training costs and associated travel depending on where you reside. Be prepared to grow with the brand and attend new training as it arises. Having a business background will help you navigate the financials and skills necessary to succeed.
Credit and Background
Sometimes, one person has the financial stability and a different person has the experience. Your credit has to be top notch prior to taking on any large business endeavor as well. If you alone do not satisfy all of the criteria, consider having a partner to share responsibilities with. Your partnership can help you accomplish your goals and achieve your franchise dreams. It may also make taking your vacation days easier and more relaxing down the road if you are working with a like-minded individual.