About Burger King Franchise Cost and Price
Burger King Cost and Investment
Overall investment needed to start a Burger King Franchise is around $294,000 to $2,800,000 whereas the franchise fee is $5,000. Franchise agreements include an additional A royalty fee is also applicable for the franchise agreement and that is 4.5%. Burger King is a popular franchise that is very popular amongst the people all over the globe. Therefore the business is quite flourished and the ROI is great but it still depends on factors like the location of the franchise and city.
Burger King basically offers three types of franchise agreements all of which have different business models and requirements. Among these three types of agreements are Individual, Entity and Corporate. Depending on the type of the franchise the individual chooses, they can be operated on following three types of locations:
1) Institutional Locations:
These comprise of areas like corporate buildings, government buildings and facilities, medical facilities, airports, train and bus stations, sports facilities, factories, turnpikes, limited access toll roads, theme parks, zoos and educational facilities.
2) Burger King Restaurant Facility:
These types of ventures are a standalone unit and are operated basically in high markets, malls or other commercial areas. They are not set up in a constrained environment or within a particular organization and serve the traditional Burger King menu.
3) Traditional Burger King Facility:
Food courts, gas stations, convenience stores and other places with similar kind of environment and facilities can be used to start a Traditional Burger King Facility. These places are ideal for the business to flourish.
Burger King Eligibility Criteria
To become the next franchisee and join the Burger King Club you must be eligible economically. To fulfil the criteria you must have a net worth of $1,500,000, with $500,000 available in liquid assets. The franchise agreement is made for 20 years but the franchisee can always renew the agreement after this period is over.
Meetings, evaluations, a grand opening event, and a toll-free phone number are always at the service of the franchisee in care they face any hurdle in business and seek advice. Marketing is not something that franchisees have to worry about while being associated with Burger King as they manage their own marketing and advertising campaigns which bags many awards.
Burger King Financial Aid
Burger also provides its franchisees with financial aid by offering real estate leases and other remodelling franchise programs to assist in starting the business smoothly. The franchisee also gets certain types of transactions when there is a need for it from the franchisor. Many a times the franchisee can take help of the expedited and streamlined SBA loan processing through the SBA's Franchise Registry Program only if found eligible. There is no current facility of receive any payments from unaffiliated lenders provided to the franchisees.
Burger King Training and Support
Burger King offers great support to its franchisees both prior to the opening of the restaurant and after it. All franchisees are provided training in Miami, Florida or location specified by the franchisor. Owner and Operators sometimes undergo additional training to learn how to manage current operations, standards, and procedures and to expand the business and profits further.
Occasional workshops and seminars are also conducted for managers to impart management knowledge and updating of operational skills. Other assistance for managing the franchise is also provided to help the business bloom. All franchisees have to keep up with the updated methods of the business for which they have to attend occasional training programs.