Best Franchise Deal for 2020 - Charleys Philly Steaks
Charleys Philly Steaks
Total U.S. units: 549
U.S. franchise units: 492
System-wide sales: S445,000,000
Franchise AUV: $827.285
Franchise fee: $24,500
Total start-up costs: S458,996-S637,568
Royalty: 6%
Renewal fee: Sl0,000
Marketing fee: 4%
The skinny: Charleys' favorable financials are attractive on paper, but the proof is also in the pudding: Seventy percent of growth comes from existing franchisees. The brand has prioritized nontraditional locations like malls and airports in the past, but it's now turning its attention to traditional sites, as well, and hopes to open hundreds if not thousands of locations in the coming years.
The selling point: With robust experience in the nontraditional space, Charleys is a highly efficient concept that's already adept at running out of small spaces-a necessity in the post COVID world that prioritizes off-premises service. And now it's taking that experience to more street-level locations, which could help position it as a solid competitive threat to Jersey Mike's and Firehouse Subs.
Council's take: "The buildout and overall investment is lower than many other quick-service opportunities. They are especially relevant for nontraditional deals such as airports.
Charleys Philly Steaks
Total U.S. units: 549
U.S. franchise units: 492
System-wide sales: S445,000,000
Franchise AUV: $827.285
Franchise fee: $24,500
Total start-up costs: S458,996-S637,568
Royalty: 6%
Renewal fee: Sl0,000
Marketing fee: 4%
The skinny: Charleys' favorable financials are attractive on paper, but the proof is also in the pudding: Seventy percent of growth comes from existing franchisees. The brand has prioritized nontraditional locations like malls and airports in the past, but it's now turning its attention to traditional sites, as well, and hopes to open hundreds if not thousands of locations in the coming years.
The selling point: With robust experience in the nontraditional space, Charleys is a highly efficient concept that's already adept at running out of small spaces-a necessity in the post COVID world that prioritizes off-premises service. And now it's taking that experience to more street-level locations, which could help position it as a solid competitive threat to Jersey Mike's and Firehouse Subs.
Council's take: "The buildout and overall investment is lower than many other quick-service opportunities. They are especially relevant for nontraditional deals such as airports.