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FDD Talk 2015: BGR The Burger Joint Franchise Opportunity (Financial Performance Analysis, Estimated Costs, and Other Important Stuff You Need to Know)

by Franchise Chatter on August 28, 2015

in FDD Talk 2017: Food Franchises, Franchise Earnings, Hamburger Franchise

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BGR The Burger Joint Photo by 50 Burgers or Bust

In this FDD Talk 2015 post, you’ll learn the following:

  • Section I – Background information on the BGR franchise opportunity, including relevant news updates
  • Section II – Estimated initial investment for a BGR franchise, based on Item 7 of the company’s 2015 FDD
  • Section III – Presentation and analysis of BGR’s financial performance representations, based on Item 19 of the company’s 2015 FDD, including information on the:
  • 2014 actual and average revenue for the 16 BGR The Burger Joint restaurants that were open for the entire 2014 calendar year
  • 2014 actual and average cost of goods sold and labor expenses for the 15 BGR The Burger Joint restaurants that were open for the entire 2014 calendar year and provided the franchisor with their respective cost of goods sold and labor expense data
  • 2014 average, high, and low occupancy cost per square foot for the 15 traditional BGR The Burger Joint restaurants that were open for the entire 2014 calendar year

Section I – Background Information

BGR The Burger Joint is under new management, as it has been purchased by Chanticleer Holdings Inc.

Chanticleer, based in Charlotte, North Carolina, is also a Hooters franchisee. The company said BGR, a better-burger concept restaurant chain headquartered in Lansdowne, Virginia, provides growth opportunity.

With the addition of BGR’s 20 units, Chanticleer is nearing 50 locations in the U.S. and other countries, including Hooters franchises and American Burger stores as well as Just Fresh, in which Chanticleer has a majority interest.

Chanticleer said it plans three to five BGR franchise locations before the year’s end.

Chain Sparked By Childhood Memories

BGR was founded in 2008 by March Bucher, sparked by his memories of his childhood in Philadelphia. There, he and other children would line up to get a burger from butcher Philip Kaufman. Bucher’s sandwiches are inspired by those he remembers Kaufman creating.

The Legends sandwiches include the signature The Burger, featuring prime, dry-aged beef grilled over an open flame; Veggie, a fresh house-made burger blending black beans and brown rice with molasses and oats; Grilled Chicken, with grilled chicken breast; and Turkey, infused with Portobello mushrooms and Gorgonzola cheese. Customers choose from a variety of toppings, such as the usual fresh lettuce, tomato, onion, pickles and Mojo Sauce, as well as bacon, grilled jalapeño, avocado and more.

Special Masterpieces sandwiches include the Grand Champion Burger, featuring caramelized onions, roasted mushrooms, crumbled blue cheese and black truffles; the Triple D, with a burger covered with an over-easy egg, smoked bacon, grilled jalapeno and cheddar cheese; the Greek, with a patty of ground leg of lamb topped with tzatziki sauce, feta cheese, cucumber, red onion, lettuce and tomato; and Ahi Tuna, with sushi-grade ahi tuna grilled with pineapple, pickled ginger and teriyaki sauce.

Local bakers prepare buns each day, and the stores prepare fresh vegetables daily.

Notable extra touches include grilled asparagus and sweet potato fries as sides; vintage bottled soda; lettuce wraps for any burger; a salad bowl featuring a burger on mixed greens, cumber, onion and tomato; and additions of rosemary, roasted garlic and Parmesan cheese available to add to any order.

Second Location in Kuwait

The chain announced in May 2015 that it would open its second international franchise location in Kuwait, within The Cube Mall.

New US Locations

The chain moved into Texas in July 2014 with a Dallas location.

BGR is also adding a second Springfield, Virginia, location in the summer of 2015. The store will be in the Springfield Town Center, located at the “Mixing Bowl” interchange featuring Interstate 95, 395, and 495, among the busiest highway junctions in the U.S.

BGR Burgers Honored

BGR received honors from The Washingtonian in June 2015 for “Best Burger In DC” and took second place in the “Best Fries” category.

Washington DC Eater picked BGR’s The Lamb burger third on its list of 25 Essential Burgers in D.C. in April 2015.

Business Insider, in a list of Best Burgers in Every State, noted that BGR gets its beef from free-range, grain-fed cattle and does not use hormones, fillers or antibiotics, as well as grills over an open flame and uses fresh buns baked daily. The burger pick for Washington, D.C., was “The Burger,” the chain’s signature sandwich, featuring prime, dry-aged beef with the customer’s choice of toppings, such as grilled pineapple and Applewood bacon.

MSN put “The Burger” at No. 7 on its list of America’s Top 10 Chain Burgers in December 2014.

Section II – Estimated Costs

  • Please click here for detailed estimates of BGR franchise costs, based on Item 7 of the company’s 2015 FDD.

Section III – Financial Performance Representations (Item 19, 2015 FDD) and Analysis

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