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Transcript of IHOP Franchise
$40 000 and development fee of $20 000 For buying a single restaurant, the franchisee fee is $50 000 and the location fee is $15 000. The Royalty fee is 4.5% of Grossing Sales The National Advertising Fund is 2.25% of Grossing Sales The Local Advertising Fee is 0.75% of minimum Gross Sales The Average Training for a franchisee is 7 weeks They send the franchisee and some employees to CHART to develop the skills necessary to work in the hospitality business. CHART or Council of Hotel and Restaurant Trainers The oldest and largest not-for-profit organization for training in the hospitality industry Chart positively impacted millions of employees and their mission is to train employees to become well equipped, trained professionals. Net worth of at least $1,500,000
Ability to identify your available funds
Have restaurant experience
Demonstrated Leadership Skills
Have a business plan for proposed financing of development
Identify development Interest
[Multi-Restaurant Development, Single Restaurant Development] Obligations for a Franchisee to a Franchisor Franchisee Training SUPPORT THAT IHOP PROVIDES Site Selection Assistance Restaurant Designing-Planning Restaurant-Opening Assistance ADVANTAGES of Owning IHOP Having a widely renowned business lasting over 50+ years
Getting to own a business that sells moderately priced foods and beverages in an attractive family atmosphere
Open long hours and has a broad array of menu items such as lunch, dinner and snacks
Make big profits
The Best Pancake house in the world More popular in USA than in Canada Disadvantages of owning IHOP Fewer locations in Canada Restaurants are not in convenient areas They have appealing TV commercials
They Advertise using different social Medias
Youtube, Twitter, Facebook,
They Market to Family Households
Has catchy slogans such as:
"Come Hungry leave happy" Marketing and Advertising Programs A Franchisee typically makes anywhere from $750,000 - $1,000,000
Profits will vary depending on location of store
Has very loyal customers that will enjoy your food and service
Has more cost efficient products Potential Earnings and Profits THIS WILL If None of this makes you want to own an IHOP