3 Steps Before Starting A Franchise
It’s no surprise that many entrepreneurs turn to the restaurant industry when they’re looking for their next big step. Franchising has proven to be an extremely lucrative and rewarding venture to go into — and with the right franchise behind you, anything is possible! With Quaker Steak & Lube’s® comprehensive franchising process, there isn’t much that can’t be done in order to get you up and rolling quickly! But before you can begin your endeavors as The Lube’s newest crew member, there are a few things you need to do beforehand.
1. Do Your Homework
If you haven’t already done so, it’s important to understand who Quaker Steak & Lube is, and how we grew to be the fast-casual dining experience that is loved in over 14 states nationwide! From humble beginnings in Pennsylvania to the 50+ locations across the states today, we bring a one-of-a-kind fest-aurant experience to the table of each guest! If high-octane, motorsport themed dining is up your alley, you’re in the right place!
2. Think About Location
There are a number of things to think about when franchising, and location is perhaps one of the most important. Before anything can get started, it’s important to research and find the place that can provide you with the most profit and potential for returning customers! Whether you’re pondering a standalone building or placing yourself in a high-traffic, non-traditional spot, having that out of the way early is key!
3. Account For Costs
You’ve heard the term before: “it takes money to make money” which is all too true in the restaurant business. To start up your own franchise, a bit of capital is also necessary! Our criteria is quite simple, requiring at least $500,000 liquidity so single-unit and $1 million for multi-unit developments. Additionally, you’re also looking at a development fee of up to $20,000 and franchising fee of $40,000. With the right location and our dedicated team however, long-term success is only around the next turn!
Bring Quaker Steak & Lube® and its one-of-a-kind dining experience to your market. Opportunities are available! Please fill out our franchise application for more information or call 1-877-695-8231. Come expand Lube Nation with us!