Do you want to open a restaurant by buying HWY 55 Burgers Shakes & Fries? If YES, here is how much it cost to open HWY 55 Burgers Shakes & Fries franchise. Hwy 55 Burgers Shakes & Fries is renowned as a retro – themed diner. The restaurant features fresh, never-frozen hand-pattied hamburgers, cheeseburgers, house-made frozen custard, and other classic favourites (cheese steaks, hot dogs, fries and shakes) in a fun, open – kitchen setting.
Established in Goldsboro, NC in 1991, Hwy 55 has cultivated a culture and the commitment to authentic hospitality and fresh food. Better known throughout the region for its fresh food and service that delights, Hwy 55 has won BurgerBusiness.com’s “Best Burger” and was recently named a top 500 franchise in the United States by Entrepreneur magazine and a “Next 20” restaurant brand by Nation’s Restaurant News.
Hwy55 franchise operations are governed by uniform standards, specifications and procedures to deliver quality and uniformity of product and guest experience. Additionally, every franchisee is taught inventory, management and financial control procedures, including point – of – sale and tracking systems.
As a franchisee, in terms of promoting the Hwy 55 restaurant in your local community, the company tends to help you deeply immerse yourself in the community and drive recognition through traditional, online as well as community relations programs, all designed to create a preference for Hwy 55.
Hwy55 always strives to become part of the communities it serves, and the company believes this is the real secret sauce of investing advertising and marketing dollars effectively. My Hwy 55 is an innovative guest loyalty program that now boasts over 200,000 members. Members receive offers via email, text or right in their mobile app…all designed to drive incremental restaurant visits.
Given the program’s cost per store, it’s one of the most effective business builders in the Hwy 55 marketing arsenal. Member points are awarded based on how much a guest spends. Rewards can be redeemed directly through a member’s mobile app.
Hwy55 support franchisees in real estate and site selection, and also helps to establish vendor relationships, create specialized products, and build dedicated distribution partners. The company also offers two layers of support. Each territory has an Area Developer who is the franchisee primary source of support. The home office is always available to provide all franchisees access to top – notch training, pre – opening and field support, ongoing advice, guidance and counsel.
Hwy 55 commitments to ongoing R&D helps to maintain best-in-class products, services, training and branding in its market segment. The company’s magic exists in people and service: two critical elements deep within its company culture. And when done well it makes for a delightful guest dining experience. Each day better than the next; each meal served fast, hot, tasty and with a smile.
Financial Requirements of Opening a HWY 55 Burgers Shakes & Fries Franchise
Hwy 55 is known to provide franchise opportunities. As of 2018, the company boasts of about 120 franchises in the United States and 1 outside the country. The financial requirements for any of the company franchise include:
- Initial Investment: $196,055 – $433,055
- Net – worth Requirement: $500,000
- Liquid Cash Requirement: $125,000
- Initial Franchise Fee: $25,000
- Ongoing Royalty Fee: 5%
- Ad Royalty Fee: 1%
How to Buy a HWY 55 Burgers Shakes & Fries Franchise
A Hwy 55 restaurant usually has a 1950s theme, with pink – and – teal colour accents and ‘50s décor mounted on the walls. Kitchens are open, whereby customers can watch cooks grill their food. If you are so interested in acquiring this franchise, below are steps to take, especially in the United States.
- Collect and analyze your financial portfolio information to qualify for a franchise and a bank loan. The Hwy 55 burgers shakes franchise expects potential franchisees to have a minimum net – worth of $500,000 and $125,000 in liquid assets to qualify for an application.
- Analyze lenders to know the best fit for your franchise loan. Shop loans specifically for fast food restaurants. Lenders make loans for various types of franchises, but not all lend for restaurant operations.
- Carefully fill and submit the paperwork and an application to a lender to prequalify for a franchise loan.
- Take the online qualifying questionnaire on the Hwy 55 burgers shakes franchise website.
- Contact the Hwy 55 burgers shakes representative charged with supervising the state of your prospective franchise. Locate the name of the representative from listings on the HWY55 franchise website.
- Take your time to analyze Hwy 55 burgers shakes’ corporate Uniform Franchise Offering Circular and a copy of the franchise disclosure. Federal law requires the disclosure as part of the business offering.
- Choose a suitable location for your franchise with the Hwy 55 burgers shakes representative or propose your own location for the restaurant on land you currently own.
- Choose the contract options for your restaurant and ask the Hwy 55 burgers shakes representative to write the franchise agreements incorporating these terms. Options include advanced training, special decorative features for your restaurant and types of equipment.
- Unless you have a law background yourself, it is impossible for you to know all the legalese needed in contract negotiations. It is a good idea to hire a legal advisor who can guide you through the whole process of becoming a franchise. You should also ask him or her to look into any litigation that the parent company might be involved in.
- Review the franchise termination clause and restaurant resale clauses in the franchise agreement and make sure the language matches your verbal conversations with the franchiser.
- Meet with your lender and organize the franchise loan. The lender needs information about the franchise and may also need to analyse additional financial documents to confirm your economic status since the prequalifying loan interview.
- Sign the franchise agreement and paperwork and deposit your cash as required under the franchise agreement.
Note that things are always evolving at Hwy 55 Burgers Shakes & Fries. Now the company are creating and launching their first stand-alone restaurant design. It’s a hybrid model that accommodates sit – down full – service dining along with window – service for people that just want something great to eat and be on their way.
This evolution brings the company nearer to its competitors situated in similar buildings. The good news is a Hwy 55 restaurant will now be more visible to consumers. That’s especially helpful in states and local communities that are new to Hwy 55, making the company franchise accessible and profitable.