Questions About How to Open a Casual Restaurant Franchise with Binghamton HOTS
What experience do I need to become a Binghamton HOTS franchise owner?
Some familiarity with restaurant operations is helpful, but it’s not required to be part of the Binghamton HOTS casual restaurant franchise program. We do look for people who will be dedicated to their restaurant operations, and who have solid business and people management experience. The ability to build a strong operations team and potentially open and operate multiple units are also important factors we evaluate.
What is provided as part of the Binghamton HOTS program?
Binghamton HOTS will provide pre-opening training program that will include both classroom (up to 16 hours) and on-the-job (up to 60 hours) sessions. We will also send a representative to assist you and your team on-site around the time of your Grand Opening. In addition, we will present you with a copy of our confidential operations manual to help you run your casual restaurant franchise properly on a day-to-day basis.
How much will the Binghamton HOTS program investment cost me?
The projected initial investment range for a single unit franchise is between $134,650 and $301,400. This investment amount includes an initial franchise fee of $25,000. As with any new business venture, it’s important that you have the capital needed to adequately fund your new business.
Is financing available?
We do not offer direct financing to franchisees. We may be able to provide references to qualified financing or lending resources, on a case-by-case basis.
Are there ongoing fees to pay?
Franchisees will pay a royalty fees equal to 5% of gross sales. These fees allow us to fund our ongoing support services and the continued development of menu options, marketing tools, training programs, and systems upgrades.
Are there any advertising fees?
Franchisees must spend a minimum of 1% of gross sales each month on local marketing. Franchisees will also contribute up to 2% of gross revenues into the system marketing fund. Collected funds will be used to develop marketing strategies to promote the Binghamton HOTS brand and fund the creative costs to develop local restaurant marketing materials and campaigns.
What is the term of the agreement?
The initial term of your agreement is ten years, with two additional successor agreement options of five years each.
How do I get started?
If you're interested in learning more about how to open casual restaurant franchise with Binghamton HOTS, click here to request more information. Or you can contact us at (607) 427-6645 or firstname.lastname@example.org to discuss the possibility of setting up a meeting, speaking with our key management staff, and receiving our FDD (Franchise Disclosure Document) which contains all the important details you'll need to make an informed decision.
This website and the franchise sales information on this site do not constitute an offer to sell a franchise. The offer of a franchise can only be made through the delivery of a franchise disclosure document. Certain states require that we register the franchise disclosure document in those states. The communications on this website are not directed by us to the residents of any of those states. Moreover, we will not offer or sell franchises in those states until we have registered the franchise (or obtained an applicable exemption from registration) and delivered the franchise disclosure document to the prospective franchisee in compliance with applicable law.