Startup CostsFor Opening a Wayback Burgers
A reasonable initialinvestment that pays off
The prospective cost of opening a restaurant franchise can seem daunting to both new and experienced entrepreneurs, but at Wayback Burgers we offer a very reasonable initial investment cost. The initial franchise fee for your first franchise is $35,000. The initial fee for multiple units may be discounted per unit based on certain conditions and criteria.
The estimated initial investment for a typical Wayback Burgers restaurant will range between $550,000-$650,000 and includes line items such as restaurant construction, kitchen equipment, furniture, signage, POS system and opening food inventory.
The table below lists the average initial investment range as described in Item 7 of our current Franchise Disclosure Document (FDD).
|Type of Expenditure||Estimated Amount||Method of Payment||When Due||To Whom Payment Is to Be Made|
|Initial Franchise Fee||$35,000||Lump Sum||On Signing Franchise Agreement||Wayback Burgers|
|Leasehold Improvements||$60,000 To $250,000||As Arranged||As Requested By Contractors||Contractor, Architects, Suppliers, Or Wayback Burgers|
|Initial Rent Outlays||$2,500 To $12,000||Lump Sum||At Signing Of Lease Agreement||Landlord Or Wayback Burgers|
|Equipment||$75,000 And $255,000||As Arranged||Before Opening||Suppliers|
|Outside Fixtures And Furnishings||$5,000 To $10,000||As Arranged||Before Opening||Suppliers|
|Signage||$3,000 To $35,000||As Arranged||Before Opening||Suppliers|
|Initial Inventory||$6,000 To $9,000||As Arranged||Before Opening||Suppliers|
|Supplies||$5,000 To $35,000||As Arranged||Before Opening||Suppliers|
|Travel & Living Expenses During Training||$1,000 To $10,000||As Arranged||Before Opening||Suppliers|
|Utility Deposits||$0 To $5,000||As Arranged||Before Opening||Suppliers|
|Prepaid Insurance Premiums||$500 To $5,000||As Arranged||Before Opening||Suppliers|
|Permits & Licenses (Including Design Fees)||$6,000 To $12,000||As Arranged||Before Opening||Suppliers|
|Grand Opening Advertising||$5,000||As Arranged||Before Opening||Suppliers|
|Additional Funds & Miscellaneous||$5,000 To $20,000||As Incurred||Before Opening||Suppliers|
$209,000 – $698,000 (Approx.)
To qualify, Wayback Burgers franchise candidates need to have a credit score of 700 or above and access to the required liquid capital of $250,000, meaning cash, including savings, or any assets that can be liquidated quickly.
In order to secure financing, many lending institutions may consider your net worth in their decision.
If you don’t meet those criteria on your own, it is perfectly fine to bring on a partner.
Passion plus profit
Just as important as having enough working capital is being motivated and passionate about the brand. Our ideal candidate wants to grow with the company and eventually own multiple units. While previous ownership is not a requirement, we prefer that you have leadership experience and a keen interest in the day-to-day details of running a business.
Other fees, as listed in the current FDD, include a continuing royalty fee equivalent to 5% of gross sales, excluding sales tax, and an advertising fee of 4% of gross sales, dispersed evenly between national and local marketing campaigns.
While we do not offer financing through the company, we can provide candidates with a broad list of recommended lenders in their area.
Your Wayback Burgers franchise representative will be able to provide you with more specific answers to your questions as they relate to your individual situation. From real estate options to the construction of your restaurant, our team will walk you through the process of finding the right location to optimize your success.