In this exclusive Franchise Chatter FDD Talk post, you’ll learn the following:
Section I – Estimated initial investment (franchise costs) for a Slim Chickens franchise, based on Item 7 of the company’s 2023 FDD
Section II – Initial franchise fee, royalty fee, and marketing fee for a Slim Chickens franchise, based on Items 5 and 6 of the company’s 2023 FDD
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Section IV – News updates on the Slim Chickens franchise opportunity
Section V – Presentation and analysis of Slim Chickens’ financial performance representations (average revenues and/or profits), based on Item 19 of the company’s 2023 FDD, including information on the:
- 2022 fiscal year average, median, highest, and lowest gross sales for the 88 franchised Slim Chickens Restaurants that were open and operating for the full 2022 fiscal year and are representative of the current prototype Restaurant under development
- average, median, highest, and lowest gross sales for the last six-month period of the 2022 fiscal year for the 12 Slim Chickens Restaurants that opened in 2022, were open for the entire second half of the fiscal year, and represent one of the two standard prototype Restaurants
Section VI – Key ratios, comparables, computations, and analyses for the Slim Chickens franchise opportunity (exclusive content for Platinum subscribers)
Section I – Slim Chickens Franchise Costs
- Slim Chickens franchise costs, based on Item 7 of the company’s 2023 FDD:
- Initial Franchise Fee: $15,000 to $30,000
- Real Property/Site Lease/Site Review Fees: $45,000 to $1,200,000
- Construction/Building Conversion: $700,000 to $1,700,000
- Sitework: $50,000 to $500,000
- Furniture, Fixtures, and Equipment: $325,000 to $400,000
- Smallwares: $18,000 to $21,000
- Building Signage and Interior Graphics: $45,000 to $75,000
- Soft Costs: $90,000 to $120,000
- Insurance: $9,000 to $15,000
- Opening Inventory: $6,000 to $10,000
- Training Costs/Opening Assistance Reimbursement: $23,000 to $39,000
- POS System/Drive-Thru Components/Menu Boards: $80,000 to $140,000
- Low Voltage/Security/Network Installation: $40,000 to $50,000
- Security and Utility Deposits: $2,500 to $12,000
- Business Licenses (excluding beer and wine license): $400 to $2,000
- Grand Opening Ad Expenditure: $10,000
- Additional Funds for 3 Months: $40,000 to $65,000
- Total Estimated Slim Chickens Franchise Costs: $1,598,900 to $4,389,000
Section II – Slim Chickens’ Initial Franchise Fee, Royalty Fee, and Marketing Fee
- Slim Chickens’ initial franchise fee, royalty fee, and marketing fee, based on Items 5 and 6 of the company’s 2023 FDD:
- Initial Franchise Fee: $15,000 to $30,000
- Royalty Fee: 5% of Gross Sales
- Advertising Fund Contribution: 2% of Gross Sales
- Local Ad Expenditure/Local Advertising Cooperative Contribution: 1% of Gross Sales
Section III – Number of Franchised and Company-Owned Slim Chickens Outlets
Franchised
2020
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When I owned a UPS Store, I learned firsthand how much your ZIP code shapes your outcome. I sold my store at a premium because my territory was in a high-value area. The best areas go first, and once they're gone, they're gone. Enter your ZIP code, and a territory specialist will walk you through the franchises still available near you, drawing on information that isn't publicly accessible, saving you months of wasted research.🔴Free Webinar: 6 Under-the-Radar Franchise Concepts That Serious Buyers Should Know
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- Outlets at the End of the Year: 74
- Net Change: +17
2021
- Outlets at the Start of the Year: 74
- Outlets at the End of the Year: 104
- Net Change: +30
2022
- Outlets at the Start of the Year: 104
- Outlets at the End of the Year: 134
- Net Change: +30
Company-Owned
2020
- Outlets at the Start of the Year: 23
- Outlets at the End of the Year: 11
- Net Change: -12
2021
- Outlets at the Start of the Year: 11
- Outlets at the End of the Year: 9
- Net Change: -2
2022
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When I owned a UPS Store, I learned firsthand how much your ZIP code shapes your outcome. I sold my store at a premium because my territory was in a high-value area. The best areas go first, and once they're gone, they're gone. Enter your ZIP code, and a territory specialist will walk you through the franchises still available near you, drawing on information that isn't publicly accessible, saving you months of wasted research.📈Dreaming of Multi‑Unit Success? Lock In Prime Territories Before They're Gone.
Colin started as a team member at 21 and now owns 6 locations in Tampa Bay. Lisa came from marketing and built 21 in San Diego. The most successful multi-unit owners move early and secure markets with room to grow. Use our free tool to search multiple ZIP codes and find franchises where you can still stack locations, before someone else does. A franchise specialist will be in touch to present what's available.- Outlets at the Start of the Year: 9
- Outlets at the End of the Year: 10
- Net Change: +1
Section IV – News Updates on the Slim Chickens Franchise
Section V – Financial Performance Representations (Average Revenues and/or Profits) for the Slim Chickens Franchise (Item 19, 2023 FDD)
Part 1 – Analysis of Historical Gross Sales for All Franchised Slim Chickens Restaurants That Were Open and Operating During the Entire Fiscal Year 2022
- This Part 1 analysis contains historical average and median Gross Sales incurred in operating existing Slim Chickens franchised Restaurants that were open and operating during the entire 2022 fiscal year.
- As of the last fiscal year ended January 1, 2023, there were 134 franchised Restaurants open and operating in the United States, specifically in Alabama (7), Arkansas (16), Colorado (4), Florida (7), Georgia (1), Iowa (1), Illinois (2), Kansas (6), Kentucky (5), Louisiana (2), Maryland (2), Michigan (2), Minnesota (1), Missouri (8), Mississippi (5), Montana (1), Nebraska (2), New Mexico (1), Ohio (3), Oklahoma (9), Pennsylvania (1), South Dakota (3), Tennessee (6), Texas (29), Utah (3), Virginia (1), and Washington (1).
- Of these 134 Restaurants, 118 represent the two standard prototypes currently under development and 88 were open and operating for the entire 2022 fiscal year.
- Accordingly, Part 1 reflects information on 88 Restaurants and excludes information on (i) 15 Restaurants that do not represent the standard prototype Restaurant currently under development ((a) 6 of the Restaurants are non-prototype or non-freestanding facilities without a drive-thru that are located on college campuses and do not operate year-round, and (b) 9 of the Restaurants are non-traditional locations attached to other businesses) and (ii) 31 franchised Restaurants in the United States that opened and began operating during fiscal year 2022 and therefore were not open and operating for the full 2022 fiscal year.
- Part 1 also excludes 16 additional franchised Restaurants located in the United Kingdom.
- Part 1 presents average and median Gross Sales information for the 2022 fiscal year for the 88 franchised Restaurants that were open and operating for the full 2022 fiscal year which are representative of the current prototype Restaurant under development.
- These Restaurants have been sorted into four groups based on full fiscal year Gross Sales. Group 1 represents locations with at least $3,500,000 in Gross Sales. Group 2 represents locations with less than $3,500,000 and greater than $2,500,000 in Gross Sales. Group 3 represents restaurants with less than $2,500,000 and greater than $1,500,000 in Gross Sales. Group 4 represents restaurants with less than $1,500,000 in Gross Sales.
- The information in the table is derived from Slim Chickens franchisees’ sales reports and is unaudited and unverified.
Group 1 – Gross Sales > $3,500,000
- Average Gross Sales Per Restaurant: $4,333,502
- Median Gross Sales Per Restaurant: $4,379,543
- Total Number of Restaurants in Analysis: 14
- Number of Restaurants in Category Meeting or Exceeding the Average Amount: 8
- Number of Restaurants in Category Meeting or Exceeding the Median Amount: 7
Group 2 – Gross Sales From $2,500,000 to $3,500,000
- Average Gross Sales Per Restaurant: $2,932,863
- Median Gross Sales Per Restaurant: $2,845,963
- Total Number of Restaurants in Analysis: 22
- Number of Restaurants in Category Meeting or Exceeding the Average Amount: 9
- Number of Restaurants in Category Meeting or Exceeding the Median Amount: 11
Group 3 – Gross Sales From $1,500,000 to $2,500,000
- Average Gross Sales Per Restaurant: $1,993,686
- Median Gross Sales Per Restaurant: $1,961,078
- Total Number of Restaurants in Analysis: 42
- Number of Restaurants in Category Meeting or Exceeding the Average Amount: 18
- Number of Restaurants in Category Meeting or Exceeding the Median Amount: 21
Group 4 – Gross Sales < $1,500,000
- Average Gross Sales Per Restaurant: $1,275,381
- Median Gross Sales Per Restaurant: $1,340,546
- Total Number of Restaurants in Analysis: 10
- Number of Restaurants in Category Meeting or Exceeding the Average Amount: 6
- Number of Restaurants in Category Meeting or Exceeding the Median Amount: 5
- The highest Gross Sales amount for the Restaurants in the above table was $5,780,463 and the lowest Gross Sales amount for the Restaurants in the above table was $937,088. Average Gross Sales for all 88 Restaurants was $2,519,098. Median Gross Sales for all 88 Restaurants was $2,261,121.
- Gross Sales consists of the total sales price of all food products (including take-out, drive-thru, or catering) and all other products and services sold by the Slim Chickens Restaurants, including discounts and excluding taxes collected directly from customers and paid to taxing authorities.
Part 2 – Analysis of Historical Gross Sales for All Franchised Slim Chickens Restaurants That Were Newly Opened During Fiscal Year 2022
- As noted above, 31 new franchised Restaurants opened in 2022. While Slim Chickens excluded these 31 Restaurants from the above Part 1 analysis since none of the 31 Restaurants were open and operating the entire 2022 fiscal year, 12 of these restaurants were open for the entire second half of the fiscal year and represent one of the two standard prototype Restaurants.
- These Restaurants were opened between January 10, 2022 and June 27, 2022 and therefore all 12 of these Restaurants operated for at least six months in fiscal year 2022.
- During the last six-month period of the 2022 fiscal year from July 4, 2022 to January 1, 2023, these 12 Restaurants averaged $59,155 per week in Gross Sales per Restaurant for standard business weeks without holiday closures, with a median of $60,057 per week in Gross Sales. The highest weekly Gross Sales for the 12 Restaurants was $99,085, and the lowest weekly Gross Sales for the 12 Restaurants was $25,680.
- Some Slim Chickens Restaurants have achieved the sales results in this analysis. Your individual results may differ. There is no assurance that you’ll sell as much.
Section VI – Slim Chickens Franchise Ratios, Comparables, Computations, and Analyses (Exclusive Content for Platinum Subscribers) ⬇️
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