Earnings Claims of Top Franchises Revealed

Earnings Claims of Top Franchises Revealed

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FDD Talk 2014: Our Latest Views on South Philly Steaks & Fries’ Average Gross Sales, Food and Paper Costs, and Labor Costs

by Franchise Chatter on July 17, 2014

in Franchise Earnings, Sandwich Franchise

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South Philly Steaks and Fries Photo by maxfisher

Highlights of South Philly Steaks & Fries’ Item 19 Financial Performance Representations (2014 FDD)

  • South Philly Steaks & Fries restaurants feature Philadelphia-style cheese steaks (thinly sliced grilled steak sandwiches with cheese and assorted toppings), hot and cold specialty sandwiches, french fries, onion rings, and related food and beverages, including beer and wine where permitted by applicable law.
  • The total investment necessary to begin operation of the restaurant is from $292,500 to $464,500. This includes the $25,000 initial franchise fee.
  • You may operate in tandem or in combination with a Bananas Smoothies & Frozen Yogurt restaurant and/or Green Leaf’s Beyond Great Salads restaurant (owned by the same parent company as South Philly Steaks & Fries), or you may operate your South Philly Steaks & Fries restaurant alone. These franchise concepts are offered under a separate disclosure document.
  • During the calendar year 2013, the franchisor’s affiliates operated 9 company South Philly Steaks & Fries restaurants. Of the 9 restaurants, 6 were open for one year or more.
  • Of the 6 restaurants, 2 are located in a non-traditional environment such as an airport and casino which normally have extended hours of operation and are distinct in nature.
  • A franchisee’s financial results are likely to differ from the information below for affiliates.
  • The average Annual Gross Sales figures do not reflect the costs of sales, operating expenses, or other costs and expenses that must be deducted from the average Annual Gross Revenue or Gross Sales figures to obtain your net income or profit.
  • You should conduct an independent investigation of the costs and expenses you will incur in operating your franchised restaurant. Franchisees listed in the disclosure document may be one source of this information.
  • The average restaurants included in the calculations below are for mature restaurants; accordingly, a new Franchisee’s individual Annual Gross Sales are likely to differ from the results stated below.
  • Additionally, your financial results will depend upon, among other things, such factors as:
  • your location
  • local and national economic conditions
  • how well you follow the franchise’s methods and procedures
  • your management skill, experience, and business acumen
  • whether you personally manage your restaurant or hire a manager
  • the region in which your restaurant is located
  • whether the premise is in a new or existing center
  • the physical size and location of your restaurant
  • the condition of the premises and the amount and nature of tenant improvements required
  • the architectural criteria of the center
  • the HVAC and electrical systems present or necessary
  • the local market for the franchise’s products
  • the competition in your local market
  • the prevailing wage rate
  • competition
  • Federal, State, and local taxes
  • media and advertising cost, and
  • the sales level reached during the initial period

Average Annual Gross Sales, Range of Gross Sales, Average Food and Paper Costs, and Average Labor Costs

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