Franchisees also have the opportunity to open multiple restaurants and exploit the potential economies of scale of these types of businesses. Therefore, potential franchise partners must have at least five years of experience in managing a restaurant in an owner/operator capacity and have a balance sheet in the development of a multi-unit franchise. You must also commit to providing first-class customer service and exceptional casual work experience throughout the franchise agreement. Investment The total investment required to start operating a TGI Fridays franchise restaurant ranges from $2,596,000 to $3,835,000. This includes between $99,000 and $111,000 that must be paid to the franchisor or affiliate. You must also pay the franchisor or its partner a down payment of $10,000 (to be credited on development costs) plus $50,000 for each Friday restaurant you are prepared to develop as part of a development agreement. Subsequently, reference checks are carried out by the franchisor and a franchise agreement is signed, defining the terms of the creation of a franchisee. Franchise Description: The franchisor is TGI Fridays Franchisor, LLC. The franchise is available for casual full-themed restaurants with a specialty menu and full bar service, such as “TGI Fridays”. If franchisees believe that a site is suitable for a particular unit, they must provide the franchisor with the demographic and other information it requests so that it can evaluate the information and decide whether to consent. All franchise applicants must complete an application form that outlines their qualifications and experiences and will be evaluated by TGI Fridays.
All franchise partners must sign an initial 10-year franchise agreement, renewable for two additional five years each. Recommended for you: Similar franchise possibilities7 Results A formal franchise application and a detailed business plan are then completed by the applicant (TGI Fridays can help complete the business plan if needed). The next part of the recruitment process is the interview phase. On that date, the company`s disclosure document is made available to the potential franchisee after the signing of a confidentiality agreement. It contains detailed information on the business opportunities available. Business Type The franchise is active for casual full-themed restaurants with a specialty menu and full bar service, such as “TGI Fridays”. Duration of the agreement and renewal: the initial duration of the franchise is 10 years from the date the franchisee opens the restaurant. If franchisees meet certain qualifications, they can remain franchised for two successive five-year years.
Training Overview: The franchisor offers a number of different training programs. The principal owner, designated by the franchisee as a representative, must participate in the owner`s orientation program and successfully complete it. This program covers about two days and focuses on the general philosophy of the company and the management of a restaurant.