Investing in a franchise can be a daunting task and many people have a lot of questions they want answered before they make the decision to move forward. One of the most popular franchises in the United States is Chick-fil-A, a chicken-based quick service restaurant. In this article, let’s take a deep dive into Chick-fil-A and answer a few of the most commonly asked questions by potential franchisees.
Chick-fil-A is an iconic chain of fast food restaurants that serve chicken-based meals and waffle fries. The franchise was founded in 1967 by Truett Cathy and has grown to become one of the largest quick-service food chains in the United States, with 2,400 locations in 47 states.
The business model of Chick-fil-A is based on a commitment to quality. The restaurant chain follows strict standards and boasts a focus on customer service and satisfaction. Chick-fil-A prides itself on hiring the very best and on creating an environment that is both conducive to success and enjoyable for employees.
Chick-fil-A is an attractive choice for many potential franchisees because of the benefits associated with franchising with Chick-fil-A. To help you understand the process better, here are some of the more common questions and answers around franchising with Chick-fil-A.
Q. What Can I Expect to Invest if I Select Chick-fil-A?
The overall investment necessary to open a Chick-fil-A restaurant can range from $370,000 to $2 million. This amount can vary based on a handful of factors, such as the size of the location and associated real estate costs. The required initial investment consists of several items including the franchise fee, land, building, accelerated restaurant opening expenses, and working capital.
Q. Are There any Additional Fees or Costs?
Yes. In addition to the initial investment, Chick-fil-A franchisees are charged an ongoing royalty fee of 12.5% on sales in addition to an advertising fee of 15% of sales.
Q. How Can I Finance My Investment?
Chick-fil-A has a partnership with BancorpSouth Bank that can provide financing options for new franchisees. BancorpSouth has a variety of loan options to suit individual needs and preferences.
Q. Who is Eligible to Become a Chick-fil-A Franchisee?
To be eligible to become a Chick-fil-A franchisee, you must have a net worth of at least $250,000 and must source at least $100,000 in liquid assets. In addition, Chick-fil-A is looking for Candidates who are patient, motivated to succeed, willing to learn, and able to work well with others, as well as have an attitude of enthusiastic customer service.
Q. What Support Will I Receive From Chick-fil-A?
Chick-fil-A provides franchisees with an extensive support program. This program starts with training before you open your restaurant and continues with training and advice even after you have opened your franchise. Continuing support and training includes weekly calls, monthly meetings, quarterly visits, and yearly overnights.
Q. What Are the Benefits of Franchising With Chick-fil-A?
Franchising with Chick-fil-A comes with several advantages. Chick-fil-A offers a great brand recognition and a strong reputation for quality food and service. They also provide support and guidance to franchisees throughout the entire process from opening the franchise to managing it on a day to day basis.