If you’re researching which top franchise restaurant to own, you might be feeling overwhelmed by information. You might be looking for a specific style of food, the right corporate culture, similar values, or even just the cheapest fast food franchises to open. We know looking for franchise takes almost as much work as actually owning one, so we’ve simplified the information for you here, so you know exactly what to expect if you get in touch the with HoneyBaked Ham franchise for sale team.
No business with a proven model and established systems is going to be cheap. But at HoneyBaked, we do everything we can to reduce the initial investment cost to buying a franchise to make restaurant ownership more accessible to aspiring entrepreneurs. We can’t speak for other restaurant brands, but a Honey Baked Ham Company store usually costs between $291,900 and $566,600, including the franchise fee. The franchise fee itself costs $30,000 – but not for everyone. Qualified U.S. military veterans can expect a 33% discount on their franchise fee, making HoneyBaked one of the best restaurants franchises for sale for former servicemembers.
In addition to the initial investment for a HoneyBaked sandwich franchise, there a few other important numbers to know: successful owners in our restaurant franchise brand have a net worth of at least $500,000 for a multi-unit investment and at least $350,000 for a single unit franchise investment. Similarly, we also require franchisees begin with a minimum of $250,000 for a multi-unit investment and $100,000 for a single unit in liquid assets. Any prior experience in restaurant ownership or franchise ownership is a plus, along with a strong credit history.
At HoneyBaked, we make the experience of becoming a restaurant franchise owner a little bit sweeter. Once you reach out on our franchise website to get in touch with our sales department, we’ll get you set up with an initial phone call and the ball starts rolling from there.
Ask us anything you need to know about our restaurant franchise opportunity. We’ll come prepared with information about our proven model and streamline operations and what makes HoneyBaked one of the nation’s top franchise restaurant brands.
Next, if you’re ready for more, our team will send you a franchise application. You’ll have time to do your due diligence while we determine if you and a HoneyBaked franchise are a good fit. Part of your diligence process includes an exclusive franchise webinar that’ll tell you more about the franchise process and how to own a restaurant franchise.
After your franchise application gets approved, we’ll send you our franchise disclosure document, or FDD. Here, you’ll have access to the finer details of our restaurant franchise opportunity, including initial investment costs, financial performance, site selection information and more – basically, everything you need to know before you own a restaurant franchise brand.
After you review the FDD, the process continues with franchise validation. It’s the part where you check to see whether this restaurant franchise opportunity is all it’s cracked up to be. You can dive deep with specific questions about owning a restaurant franchise, including multiple revenue streams, marketing systems, and community engagement. You’ll also get the chance to talk to current franchisees and learn about what makes HoneyBaked such a rewarding and fun franchise to own. You’ll learn about the perks and challenges of owning a restaurant business.
The next step to owning a restaurant franchise is signing the agreement. It’s a legal document designed to outline the contractual relationship between the restaurant brand and you, the franchise owner. Read your franchise agreement carefully and get experienced help if you need it. Then, once you sign your HoneyBaked franchise agreement, you’ll have officially become a restaurant franchise owner!
At HoneyBaked Ham, our franchisee training program is extensive. You’ll learn how to own a business, through online classes, a visit to our Customer Support Center and hands-on store operations training at an open and operating HoneyBaked location. Even if you haven’t owned a restaurant before, we’ll give you the training you need to become a successful franchise owner, getting you ready to own and operate your very own restaurant franchise.
During training, you’ll also work with our professional real estate and construction support teams so you can find and select the best location for your local restaurant franchise. After that, our construction team will provide you with support during your store’s build out period by assisting you with reviewing bids, finding builders and sourcing equipment for your franchise store. The final step to take before you own a restaurant franchise? Opening your Honey Baked Ham store to the world!