With its unique “New Orleans” style menu, Popeyes is a food franchise that is worth venturing into. The store’s orange theme, spicy chicken, and regional red beans would make customers return. Add in a friendly staff and a respect for the Louisana heritage and you’re sure to have patrons in no time. The company currently has almost 2,700 restaurants in the US and is continuing to expand. If you want to be an addition to its growth, here’s a guide on the Popeyes franchise cost. The estimated startup cost ranges from $235,000 to $454,000 with an initial franchise term of 20 years. The said price does not include yet the real estate and construction expenses. To be able to operate under the company’s name, you should first settle the Popeyes franchise startup fee. The cost, regardless of the type of store, is $50,000. The franchise fee is a one-time payment. You need to settle it upon signing the agreement with the company. If you want to include the first three months of operation, the cost would be around $383,500 to $2,620,800, with real estate/land still not included. The figures account for, but not limited to the following Soft cost – $8,000 to $265,000Site work – $0 to $650,000Building – $100,000 to $1,025,000FF&E signage and technology – $165,000 to $485,000Initial training – $17,200 to $24,200Opening supplies – $11,500 to $23,000Insurance – $9,000 to $18,000Utility deposits – $2,500 to $50,000Business licenses – $300 to $6003-month funds – $20,000 to $30,000 Please take note that these Popeyes franchise fees are applicable to in-line up to free-standing restaurants. The figures also do not include the real estate and construction costs. However, the numbers include the site work and building expenses. Real Estate The company did not provide an estimate for real estate and improvement expenses. This is because the cost would depend on your location and the type of development for your unit. Note, however, the following estimated expenses for each type Free-standing restaurant Building $417,000 to $594,000Site work $153,000 to $419,000 In-line restaurant Building $250,000 to $413,000 Conversion restaurant Building $313,000 to $379,000Site work $175,000 Note also that Popeyes allows restaurant development in airports, shopping malls, campuses, and other non-traditional locations. Popeyes also accepts site submittals. Business Licenses You should also secure your business license first. The fee would allow you to legally operate your store. Please prepare between $300 and $600 for the permit regardless of the type of restaurant you plan to put up. Additional Fees You are also responsible for paying the following fees as a franchise owner Development fee $12,500 per restaurantRoyalty fee 5% of gross salesMarketing fee 4% of gross salesDevelopment schedule extension fee $5,000 for each extensionInterest on overdue payments per month/maximum rate allowed by law whichever is lowerInterest on understated sales per month/maximum rate allowed by law whichever is lowerReturned payment fee $35 eachRenewal fee 50% of the initial franchise feeSecurities offering review fee $5,000 and upSite visit fee $1,500 per visitSupplemental term option 50% of the initial franchise fee Trade secret products $3,000 initial and $3,000 monthly during operationsTransfer fee $7,500Impact study $6,000 per studyNon-solicitation of employees $5,000 Other fees have variable costs including Advertising localAuditAttorney’s feesIndemnityProduct testing Factors Affecting Popeyes Franchise Cost Each approved franchise will have varying franchise cost because of several factors such as the following Location Since different states have different economic statuses, the cost of operating a business will not be the same across the country. Businesses within progressive states and cities would definitely cost much higher compared to their counterparts. Store size The overall cost will also depend on the type of store you want to put up as the size will also hugely affect the total franchise cost. This will be mainly due to construction costs and other amenities. Amount and financing terms The amount of investment and the financing terms will also affect the overall cost of franchising as it will generate finance charges and interests. Training You and your employees should undergo training via the Popeyes Management Certification Program. This consists of online and in-restaurant activities designed to train you in Production and serviceProduction managementService managementShift management The training could last from 6 to 10 weeks. A minimum of 4 management employees, including the operating principal, must attend and complete the program. As for the cost, the initial training fee could range between $17,200 and $24,200. Support Know that you’ll receive strong support once you become a Popeyes franchise owner. The company would assist you in the following areas Access to powerful marketing programsRegional operations supportReal estate design conceptsState-of-the-art modeling tools for the site selection processLocal and national marketing programSite selection, development, design, and construction support Requirements to Become a Popeyes Franchise Owner Already submitting your franchise application? Make sure that you’re qualified based on the company’s standards. Popeyes seeks individuals who Possess solid business experienceShow proven expertise in owning or operating restaurantsHave a minimum net worth of $1 million per restaurantHave a minimum of $500,000 in liquid assets per restaurantHave a commitment to grow with the company The company gives greater consideration to those who have previous franchise experience. Note also that you need to comply with the company’s required number of restaurant franchises. Popeyes will be the one to determine how many are needed in a particular territory. That said, the franchisor will only grant development agreements if the area can justify a minimum of 5 units. The franchise requirements might be too expensive for you alone. Fortunately, the company allows partnering with other interested parties to buy and operate the business. Application If you’re ready to venture into the Popeyes business, you can proceed to request a franchise kit online. Once the company receives the form, someone from the team would contact you for more details. You may visit the company’s franchising page to read about the whole application process.
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