First short answer: ’Cause it’s fun!
Second short answer: ’Cause it can be rewarding.
Third short answer: ’Cause it’s ideal for people who like people and love helping others enjoy themselves.
That’s why owning a bar and grill franchise can be so perfect! Nothing can warm an owner’s heart more than seeing a houseful of patrons enjoying themselves over a cold brew or cocktail, having a great time with friends, and enjoying their favorite sports on television. People who love dining out are consistently on the hunt for good food at “neighborhood” prices, in a place that make them feel warm and welcomed.
As a result, there’s a constant demand for high-quality dining spots in the marketplace, and bar and grill franchise establishments are competing vigorously all over America to meet that demand. It really is a good time for serious investors to explore bar and grill franchise opportunities.
Why should you invest in a bar and grill franchise?
As we said before, running a sports bar and grill franchise can truly be a blast — if you do it right.
It can be a tough business, no bones about it. It takes a lot of effort to start up a new restaurant, and a heck of a lot of work to run it smoothly and successfully.
But the great advantage of buying a sports bar franchise is that it comes complete with a business plan built in, a tested menu, and lots and lots of technical and operational support from headquarters. So starting up a franchise operation tends to remove many of the hurdles of trying to build a place from scratch.
Another advantage? There’s money to made in those delicious drinks. Alcohol served in restaurants can be a primary source of revenue – and profit margin. According to BinWise [1] (a bar industry inventory-control software company) some successful bar and grill franchises have seen average net profits exceed annual returns from investments in the stock market — which is a solid frame of reference for determining if an investment’s a good one.
Do your homework before making your choice!
If you’re considering different bar and grill franchise opportunities, then there are a number of key questions you should get answers to before finally deciding on your brand of choice. In this article, we’ll look at three of them and highlight one bar and grill franchise opportunity – Hotshots Bar and Grill.
Hotshots Bar and Grill is a go-to destination for sports fans, with menu of home-run options and a great lineup of favorite beverages. Their interactive concept stands out in the restaurant arena with more than just the game on TV – patrons can enjoy pool tables, darts, video games and more.
1. How much net worth do I need in order to become a bar and grill franchise operator of this brand?
While “net worth” can be defined in many ways, it generally means the total of your liquid and nonliquid assets combined. Most franchisors look for a certain minimum net worth in order to agree to award a franchise to a prospective owner. The minimum net worth that any bar and grill franchise opportunity asks for reflects the company’s best (and usually time-tested) estimate of what a franchisee would need in order to succeed in that type of business, and is often a calculation based on the estimated initial investment for the franchise business.
For Hotshots Bar and Grill franchises, the minimum liquid capital requirement for prospective investors is $150,000.00.
2. How much will I have to pay in royalty fees, advertising fees, and other required payments?
- Many bar and grill franchise opportunities require franchise owners — in addition to initial franchise fee payments and other start-up costs — to pay a fee as a royalty for the use of the company’s logo and other services. This fee is usually biweekly or monthly, typically a percentage of gross sales, and can typically range from between one and eight percent.
- Some bar and grill franchise companies, in addition, ask their franchisees to regularly contribute a percentage of sales to a national advertising or marketing fund, which the company then uses to support local, regional, and national advertising and marketing initiatives.
- And still other bar and grill franchises charge owners a flat fee or percentage-based fee for certain centralized services they provide to their franchisees (e.g., purchasing
Hotshots Bar and Grill keeps their fees competitive, in line with industry averages, and royalty calculations are based on each location’s gross sales.
3. How do current franchise owners feel about this brand?
Another useful indicator of a bar and grill franchise company’s health is the satisfaction levels of the franchise owners. In general, those franchises that have the highest satisfaction rate among current owners would appear to most investors to be the more attractive.
At Hotshots Bar and Grill, we’re incredibly proud of our high satisfaction rate among our franchise locations. That validation is one of many reasons Hotshots is a solid option for investors who are considering a bar and grill franchise opportunity.
Contact Hotshots today for more information about their growth opportunities.
