Zaxby’s Franchising LLC, actively seeks highly qualified individuals to become Franchisees. Prior business experience, financial qualifications, motivation, team spirit and a track record of personal success are all important factors in our evaluation process. Prospective Franchisees must meet the criteria below to be considered.
Prospective Franchisees must meet the following criteria to be considered:
- Collective net worth of at least $1,000,000, with liquid assets greater than $500,000 (liquidity being defined as cash or any asset that could be converted to cash within ten business days).
- Ability to satisfactorily pass background checks for the following: reasonable credit worthiness, no criminal convictions, no history of extensive litigation, and satisfactory motor vehicle report.
- Willingness of all investors to personally guarantee any obligations that are required under the license agreement.
- Willingness to make a commitment to this venture within 60 – 90 days of signing a license agreement.
- Belief that guest service is of critical importance in restaurant operations.
The Zaxby’s Mission Statement — Consistently Create Encore Experiences That Enrich Lives One Person At A Time — recognizes the value of all individuals. ZFL is committed to developing a diverse community of franchisees and, in that regard, the Zaxby’s franchise opportunity is open to all qualified applicants, regardless of age, gender, race or ethnicity.
ITEM 7 DISCLOSURE - ESTIMATED INITIAL INVESTMENT
As you evaluate the idea of a Zaxby’s franchise, there are a few things our lawyers wanted to be sure we pointed out. It’s all right here in a document they’ve cleverly named “Item 7 Disclosure.” (Hey, they’re lawyers, not writers.)
|Type of Expenditure||Amount||Method of Payment||When Due||To Whom Payment is Made|
|Initial Franchise Fee||$35,000||Lump Sum||Upon Execution of License Agreement||Us|
|Lease Deposit and Payment||$12,000-$24,000||Lump Sum||Lease Signing||Landlord|
|Utility Deposits||$0-$9,000||As Arranged||As Incurred||Utilities|
|Initial Inventory||$5,000-$20,000||As Arranged||Prior to Opening||Vendors|
|Furniture, Fixtures and Equipment||$243,700-$362,2000||As Arranged||As Incurred ||Vendors|
|POS System||$27,700-$30,700||Lump Sum||Upon Installation||Vendors|
|Signange||$15,000-$25,000||Lump Sum||As Incurred||Vendors|
|Initial Marketing Contribution||$5,200-$10,000||Lump Sum||No later than 5 days prior to the opening of the Restaurant||Us|
|Insurance||$1,000-$17,000||As Arranged||As Incurreed||Insurance Company or Broker|
|Permits and Licenses||$2,000-$24,000||As Incurred||As Incurred||Government Authorities
|Accounting and Legal Fees||$500-$25,000||As Arranged||As Incurred||Professionals|
|Printing/Business Supplies||$300-$1,000||As Arranged||As Incurred||Vendors|
|Uniforms||$1,400-$3,300||As Arranged||As Incurred||Vendors
|Training Expenses||$10,000-$25,000||As Arranged||As Incurred||Hotels, Airlines, etc.|
|Pre-Opening Payroll||$10,000-$37,000||As Incurred||As Incurred||Employees|
|Additional Funds – 3 Months||$1,000-$96,000||As Incurred||As Incurred||Vendors, employees, Utilities, etc.|
Zaxby’s Franchising LLC and its business partners are very sensitive to the privacy of visitors to its website.
website at www.zaxbysfranchising.com.