Earnings Claims of Top Franchises Revealed

Earnings Claims of Top Franchises Revealed

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FDD Talk 2014: Our Latest Views on Big Boy’s Average Gross Sales for Remodeled Units

by Franchise Chatter on September 3, 2014

in Franchise Earnings, Hamburger Franchise

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Big Boy Burger Photo by Fernanda Passos

Highlights of Big Boy’s Item 19 Financial Performance Representations (2014 FDD) – Part 2

  • Beginning in mid-2011, Big Boy undertook to initiate a re-imaging program targeted at restaurant remodeling, guest experience, and menu revision. This targeted effort has two components:
  • 1.) A “Remodel Program” that renovates and enhances both the exterior and interior physical attributes of the mature restaurants in the system.
  • 2.) The “It’s Your Big Boy” program designed to enhance specific touch points in the overall guest experience. These touch points address the four Pillars of Big Boy:  My Home, My Food, My Pleasure, and My Statue.
  • A select number of Franchised and Company-Owned restaurants are involved in these two components thereby impacting the weekly sales of these select restaurants.
  • Note, a Big Boy restaurant selected to participate in the Remodel Program will automatically receive the components of the It’s Your Big Boy program. Going forward, it is Big Boy’s intent that those Big Boy restaurants that meet certain specifications and evaluation criteria would become eligible for these two program components.
  • In the opinion of the franchisor, the results achieved since mid-2011 as presented below are a reasonable basis for Big Boy to continue to invest in this re-imaging program for its Company-Owned stores. Big Boy will also encourage franchisees to participate and invest in this re-imaging program as well, and also require the re-imaging program for Franchise Agreement renewals and transfers.
  • In 2012, 1 Franchise location (Unit #385) and 3 Company locations (Units #55, #34, and #15) participated in the Remodel Program. In 2013, these same four units were open a full 12 months. Table 8 represents 2013 Gross Sales for these four units.
  • In 2013, 1 Company location (Unit #8) participated in the Remodel Program. Table 9 indicates the impact on monthly Gross Sales for comparable months in 2013 and 2012 after completion of remodeling.
  • Re-Imaging Program. A Big Boy restaurant that is selected for a full remodel will automatically receive the It’s Your Big Boy component.
  • Unit #385 is a Franchise location that experienced a fire and was therefore closed from November 2011 through April 2012.
  • Unit #34 was a Franchise until Big Boy Restaurant Management LLC purchased it in June 2012. The company decided to re-image the restaurant in October 2012, closed it for 10 days to undergo remodeling and then the company re-opened the unit.
  • Unit #15 was previously located in a two tenant strip center. In November 2012, the landlord built a new three tenant strip center in the former parking lot and Unit #15 took its position as an end-cap store.

Table 8 – 2013 Gross Sales for Units Remodeled in 2012

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