18 Oct Franchise Business Plan – Burger King
Burger King is the world’s fifth largest fast food chain, with over 15,000 restaurants worldwide. As 11 million people visit Burger King worldwide every day, the company cares intensely about customer experience and public respect for the brand. According to IBIS World, Burger King primarily franchises restaurants, with about 90.0% of its stores operating under franchise agreements. About 44.0% of the company’s restaurants are based in the U.S. Burger King’s U.S. industry-specific sales will reach $9.2 billion in 2018. Joorney Franchise Business Plans has an extensive experience in collaborating with investors looking to open a Burger King restaurant.
To provide the highest quality Franchise Business Plans, Joorney Business Plan Writers address the key issues, such as:
Burger King requires franchisees to pay an advertising monthly contribution equal to 4 percent of gross sales. Burger King uses the advertising contributions to pay for various types of expenses related to advertising and promotion such as market research, development, and production of advertisements, sales promotions, public relations, media costs, and administrative expenses. Joorney Business Plans helps in writing advertising and marketing strategies and developing budgets in line with the franchise agreement.
One of the key points of Burger King’s success is a thorough and intensive training program that covers a broad range of technical and managerial skills. Franchisees must attend two weeks of franchise orientation and complete a 440-hour, on-site training in an existing Burger King restaurant. The franchisor also makes available and sometimes requires periodic workshops and seminars for managers, which include management courses and updating of operational skills. For certain training courses, franchisees must pay a course or materials fee to the franchisor or third parties. Joorney Business Plan Writers have experience describing and developing employee long-term plans and linking the proposed individuals’ skills and training to their designated roles.
Franchisees are granted the right to operate a Burger King restaurant at a specific location only. However, the franchise agreement does not grant or imply any type of area or territory, exclusive or protected, or protected customer base. Joorney Business Plan writers develop in-depth local market analyses as well as competition analyses helping franchisees estimate their growth potential in a specific territory.
Franchise fee is a flat $50,000, and the total initial investment could be as low as $300,000 making Burger King one of the more affordable franchising option in its class. Burger King earns 4.5 percent royalties on sales as opposed to the more traditional 6% fast food industry royalty fee. Burger King also offers special incentive programs by being a MinorityFran participant. Joorney Business Plan writers have experience in creating long-term financial projections for Burger King restaurants and understand the specifics pertaining to the initial investment requirements.
By running a Burger King restaurant, you can profit from the expertise that a successful multi-national fast food corporation provides. Burger King experts have more than 60 years of experience and achievements in the fast food industry and customer satisfaction.