Top 100 Franchises
2014
Golden Krust Caribbean Bakery & Grill exists to provide the taste of the Caribbean to the world. Golden Krust is the brain-child of Ephraim and Mavis Hawthorne, founders of Hawthorne & Son’s Bakery in St. Andrew, Jamaica and parents of the present owners. They had no idea then, that their dream would one day blossom into a now global business with over 100 stores in nine states. Our franchising program is predicated on the fact that the company will only remain competitive if our franchisees are successful. We are dedicated to achieving that success by forming a true partnership with our franchisees. Golden Krust will guide you the franchisee in all of the critical decisions involved in starting your business.
| Year | Franchised | Change | Company-Owned | Change | Total | Change |
|---|---|---|---|---|---|---|
| 2012 | 105 | -1.87% | 4 | -33.33% | 109 | -3.54% |
| 2011 | 107 | -0.93% | 6 | 20.0% | 113 | 0.0% |
| 2010 | 108 | -- | 5 | -- | 113 | -- |
Investment Required
The initial fee to purchase a Golden Krust franchise is $25,000 for a traditional restaurant location and $15,000 for a kiosk or “drive-thru“ restaurant. Golden Krust provides the following range of investments required to open you initial franchise. The range assumes that all items are paid for in cash. To the extent that you choose to finance any of these expense items, your front-end investment could be substantially reduced. The figures below represent expenses for a traditional restaurant location.
| Item | Established Low Range | Established High Range |
|---|---|---|
| Franchise Fee | $25,000 | $25,000 |
| Restaurant Development | $8,500 | $8,500 |
| Leasehold Improvements | $55,000 | $280,000 |
| Furniture, Fixtures, and Equipment | $40,000 | $92,500 |
| Signage | $4,400 | $15,000 |
| First Monthâs Rent | $3,000 | $15,000 |
| Security Deposit | $0 | $45,000 |
| Opening Inventory and Supplies | $6,000 | $12,000 |
| Grand Opening Advertising | $3,000 | $10,000 |
| Expenses while Training | $2,500 | $5,000 |
| Miscellaneous Opening Costs | $6,000 | $16,000 |
| Additional Funds (3-7 months) | $20,000 | $40,000 |
| Total Initial Investment | $173,400 | $564,000 |
Ongoing Expenses
For owners of traditional restaurant locations, royalty fees will equal the greater of $250 per week or 3% of gross sales, and advertising fees will equal 2% of gross sales. Franchisees of kiosk locations must pay royalty fees equal to 5% of gross sales and advertising fees of 3% of gross sales.
What You Get: Training and Support
Franchisees will participate in a three-week initial training program, which consists of one week of classroom instruction at company headquarters in Bronx, New York, one week of on-the-job training at another functioning restaurant, and one week of on-site assistance during grand opening. Golden Krust will continue to provide ongoing guidance and advice regarding the operation of the franchise, as well as administering the advertising fund and conducting refresher training courses when needed.
Territory
Golden Krust does not grant exclusive territories.
Note: The tables and information regarding the number of operating units, investment required, ongoing expenses, training and territory grants were taken from the company's 2013 FDD.
