STRATEGIC PARTNERSHIPS = SMART GROWTH
At East Coast Wings + Grill, we believe in quality of growth over the quantity of growth. We believe that this strategy is best implemented by growing with partners that share our philosophy and core values. It is for these reasons that we are particular about awarding territories for development. When considering a potential candidate there are several criteria that are considered, along with candidate interviews and question/answer sessions to be sure new franchisees are positioned for success.
We are looking for professionals with experience in business and management. We also look for candidates with previous restaurant experience, as well as current owners of other franchise brands that have an interest in multi-unit and territory development.
|Royalties||5% of net sales|
|Estimated Initial Investment||$655,875 – $1,005,974 *|
|Fixtures, Furniture, Equipment||included in above range|
|Marketing Fund Fee||2% of net sales|
* These are expenses to improve the space to brand-specific standards. These projections assume the space is being leased. If you elect to own your own location, additional costs will be imcurred. In 2015, the average negotiated tenant improvement allowance was $3.80/square foot, so the high number disclosed above is net the average tenant improvement allowance received on an average of 4,468 square feet. These figures were compiled for stores opened by December 31, 2015, based on franchisees’ net initial construction costs. Impact fees vary in each jurisdiction if charged at all. Our high estimate includes the average impact fees paid by our franchisees in operation. Your jurisdiction may impose different fees. We encourage you to research the fee structure in your jurisdiction.
Additional details provided in our Franchise Disclosure Document.
Candidates should have an entrepreneurial spirit with a minimum net worth of $850,000 and minimum liquid assets (readily accessible at application time) in the amount of $250,000 for a single unit. Additional net worth and liquid requirements may apply depending upon the number of units requesting to be developed, and whether a candidate falls into one of two categories: owner-operator vs. portfolio/investor operators that typically do not have direct contact within the unit. Both types of candidates should be prepared to attend our extensive training programs to ensure the best opportunity for knowledge of the brand and the tools that we make available to assist our franchisees in the operation of their units.