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Cut To The Chase
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Hear industry expert Jeff Elgin speak about the rewards of franchise ownership.
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Overwhelmed?
Let the industry expert consultants from FranChoice guide you in your search for the perfect franchise opportunity.
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BUFFALO WINGS AND RINGS - FDD UFOC ITEM 7 Detail
You should expect to make the
following estimated initial investment to commence the operation of your
Franchised Restaurant (all expenditures are non-refundable unless specifically
noted otherwise):
|
DESCRIPTION
|
AMOUNT
|
METHOD OF PAYMENT
|
WHEN DUE
|
TO WHOM PAYMENT IS TO BE MADE
|
|
|
Initial franchise fee
|
$30,000-Note [1]
|
If Franchisee commits to 2 or
3 restaurants, there is a $5,000 discount for restaurants two and three. The
fee for the 1 restaurant and 50% of the fees for restaurant 2�� and 3 must be
paid upon signing the 1st franchise agreement.
The remaining 50% for the second franchise is due
within 12 months from the date the 1 franchise agreement is signed. The
balance of the fee for the third restaurant is due within 24 months of the
date the 1 franchise agreement is signed.
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Upon signing of
Franchise
Agreement
|
BWR
|
|
|
Equipment package
|
$85,000 - $95,000
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As incurred
|
Before Opening
|
Suppliers
|
|
|
Furniture & Millwork
|
$45,000 - $50,000
|
As Incurred
|
Before Opening
|
Suppliers
|
|
|
Point of Sale Micros� System
|
$19,000-$21,000
|
As Incurred
|
Before Opening
|
Suppliers
|
|
|
Television & related equipment
|
$25,000 - $40,000
|
As Incurred
|
Before Opening
|
Suppliers
|
|
|
Alcoholic beverage license
|
$2.500-$15,000.
|
Lump Sum
|
Before Opening
|
State
or private owner
|
|
|
Professional fees
|
$18,000 -$20,000
|
As incurred
|
As incurred
|
Accountant,
Architect, and attorney
|
|
|
Travel
and living expenses
while
training Note
|
$6,000-$10,000
|
As incurred
|
Before
or during training
|
Airlines, hotels, car rental
companies, taxi cabs and
restaurants
|
|
|
Monthly
rental payment and deposit - Note
|
$12,000-$19,000
|
Monthly
|
Depends
on lease terms
|
Landlord
|
|
|
DESCRIPTION
|
AMOUNT
|
METHOD OF PAYMENT
|
WHEN DUE
|
TO
WHOM PAYMENT IS TO BE MADE
|
|
Leasehold improvements -Note[2]
|
$195,000-$320,000
|
As incurred
|
Before opening
|
Contractors
|
|
16
Signs - Note
|
$8,000-$18,000
|
As incurred
|
Before opening
|
Suppliers
|
|
Opening inventory
|
$9,000 -$12,500
|
Lump sum
|
Before opening
|
Suppliers
|
|
Miscellaneous opening costs
Note
|
$13,000
-$16,000 Note
|
As incurred
|
As incurred
|
Suppliers,
utility
companies,
insurance
companies
|
|
Grand opening advertising
|
$ 3,000
|
As incurred
|
Within 60 days after opening
|
Suppliers
|
|
Additional funds - 3 months 18
Note
|
$15,000-$20,000
|
As incurred
|
As incurred
|
Suppliers, utility
companies,
insurance
companies
|
|
TOTAL Note [3]
|
$485,500 - $689,500
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|
|
|
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20 BWR does not refund area
development fees or initial franchise fees. All fees payable to BWR are
non-refundable.
|
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22� We do not charge an additional fee for the
initial training, but you must pay the expenses of travel, lodging, food,
wages, and workers''
compensation for you and your employees during the training program. These
expenses will range from $6,000 to $10,000, depending
upon the number of persons attending training, the distance and method of
travel, the availability and quality of your hotel and restaurant
accommodations, and living expenses during the training program.
23��� If you do not own a building appropriate for
the Franchised Restaurant, you must lease the land and building. The figures
in the chart
represent the rent for the start-up phase of the business (which we calculate
to be the first month''s rent and deposit) for a facility
containing between 3,000 and 4,500 square feet The figures are based upon a
range of $18 to $25 per square foot. The estimates do not
include real estate taxes, and assume that rent commences when the Franchised
Restaurant opens. Rental rates for commercial space
vary considerably from one market to another. The terms of your lease win
depend on the size, location, condition, and desirability of the
|
Area Development Agreement
|
DESCRIPTION
|
AMOUNT
|
METHOD OF PAYMENT
|
WHEN DUE
|
TO WHOM PAYMENT
IS TO BE MADE
|
|
|
20
Area Developer Fee
|
$25,000-$100,000
|
Upon agreement execution
|
Upon signing of Area
Development Agreement
|
BWR
|
|
|
20
Initial franchise fee
|
$30,000-Note [4]
|
If Franchisee commits to 2 or 3 restaurants, there is
a $5,000 discount for restaurants two and three. The fee for the 1 restaurant
and 50% of the fees for restaurant 2�� and 3 must be paid upon signing the 1
franchise agreement.
The
remaining 50% for the
second
franchise is due within
12
months from the date the
1 franchise agreement is
signed. The balance of the
fee for the third restaurant is
due
within 24 months of the at
date the 1
franchise agreement is signed.
|
Upon
signing of
Franchise
Agreement
|
BWR
|
|
|
Equipment package
|
$85,000 - $95,000
|
As incurred
|
Before Opening
|
Suppliers
|
|
|
Furniture & Millwork
|
$45,000 - $50,000
|
As Incurred
|
Before Opening
|
Suppliers
|
|
|
Point of Sale Micros� System
|
$19,000 -$21,000
|
As Incurred
|
Before Opening
|
Suppliers
|
|
|
Television & related equipment
|
$25,000 - $40,000
|
As Incurred
|
Before Opening
|
Suppliers
|
|
|
Alcoholic beverage license
|
$2,500-$15,000
|
Lump Sum
|
Before Opening
|
State
or private owner
|
|
|
Professional fees
|
$18,000 -$20,000
|
As incurred
|
As incurred
|
Accountant,
Architect, and attorney
|
|
|
Travel
and living exoenses while training Note
|
$6,000-$10,000
|
As incurred
|
Before
or during training
|
Airlines, hotels, car rental
companies,
taxi cabs and restaurants
|
|
|
Monthly rental payment and deposit - Note
|
$12,000-$19,000
|
Monthly
|
Depends on lease terms
|
Landlord
|
|
|
DESCRIPTION
|
AMOUNT
|
METHOD OF PAYMENT
|
WHEN DUE
|
TO WHOM PAYMENT IS TO BE MADE
|
|
Leasehold
improvements -Note
|
$191,000-$320,000
|
As incurred
|
Before opening
|
Contractors
|
|
25
Signs - Note
|
$8,000-$18,000
|
As incurred
|
Before opening
|
Suppliers
|
|
Opening inventory
|
$9,000-$12,500
|
Lump sum
|
Before opening
|
Suppliers
|
|
Miscellaneous
opening costs Note
|
$13,000-$16,000 Note
|
As incurred
|
As incurred
|
Suppliers,
utility
companies,
insurance
companies
|
|
Grand opening advertising
|
$ 3,000
|
As incurred
|
Within 60 days
after opening
|
Suppliers
|
|
Additional funds - 3 months 27
Note
|
$15,000 -$20,000
|
As incurred
|
As incurred
|
Suppliers, utility
companies,
insurance
companies
|
|
28
TOTAL Note
|
$510,500- $789,500
|
|
|
|
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29�� BWR does not refund Master
Developer or initial Franchise Fees. All fees payable to BWR are
non-refundable.
30
BWR
does not provide financing for the franchise fee or any other part of your
initial investment There is a reduction in the fee if the franchisee commits
to open two or three restaurants.;
31
We
do not charge an additional fee for the initial training, but you must pay
the expenses of travel, lodging, food, wages, and workers'' compensation for
you and your employees during the training program. These expenses will range
from $6,000 to $10,000, depending upon the number of persons attending
training, the distance and method of travel, the availability and quality of
your hotel and restaurant accommodations, and living expenses during the
training program.
32��� If you do not own a
building appropriate for the Franchised Restaurant, you must lease the land
and building. The figures in the chart
represent the rent for the start-up phase of the business (which we calculate
to be the first month''s rent and deposit) for a facility
containing between 3,000 and 4,500 square feet. The figures are based upon a
range of $18 to $25 per square foot The estimates do not
include real estate taxes, and assume that rent commences when the Franchised
Restaurant opens. Rental rates for commercial space
vary considerably from one market to another. The terms of your lease wiD
depend on the size, location, condition, and desirability of the
|
Master Developer Agreement
|
DESCRIPTION
|
AMOUNT
|
METHOD OF PAYMENT
|
WHEN DUE
|
TO WHOM PAYMENT IS TO BE MADE
|
|
|
29
Master Developer Fee
|
$100,000-$50Q,000
|
Upon agreement execution
|
Upon signing of Master
Developer Agreement
|
BWR
|
|
|
29
Initial franchise fee
|
30
$30,000 - Note
|
If Franchisee commits to 2 or 3 restaurants, there is
a $5,000 discount for restaurants two and three.
St
The fee for the 1 restaurant and 50% of the fees for
restaurant 2�� and 3 must be paid upon signing the 1s* franchise
agreement.
The remaining
50% for the second franchise is due within 12 months from the date the 1
franchise agreement is signed. The balance of the fee for the third
restaurant is due within 24 months of the date the 1 franchise agreement is
signed.
|
Upon signing of
Franchise
Agreement
|
BWR
|
|
|
Equipment package
|
$85,000 - $95,000
|
As incurred
|
Before Opening
|
Suppliers
|
|
|
Furniture & Millwork
|
$45,000 - $50,000
|
As Incurred
|
Before Opening
|
Suppliers
|
|
|
Point of Sale Micros� System
|
$19,000-$21,000
|
As Incurred
|
Before Opening
|
Suppliers
|
|
|
Television &
related equipment
|
$25,000 - $40,000
|
As Incurred
|
Before Opening
|
Suppliers
|
|
|
Alcoholic beverage license
|
$2,500-$15,000
|
Lump Sum
|
Before Opening
|
State or private owner
|
|
|
Professional fees
|
$18,000-$20,000
|
As incurred
|
As incurred
|
Accountant, Architect, and
attorney
|
|
|
Travel and living expenses
while training Note
|
$6,000 -$10,000
|
As incurred
|
Before or during training
|
Airlines, hotels, car rental
companies, taxi cabs and
restaurants
|
|
|
Monthly rental
payment and deposit - Note
|
$12,000 -$19,000
|
Monthly
|
Depends on lease terms
|
Landlord
|
|
|
DESCRIPTION
|
AMOUNT
|
METHOD OF PAYMENT
|
WHEN DUE
|
TO
WHOM PAYMENT IS TO BE MADE
|
|
Leasehold
improvements -Note
|
$191,000 -$320,000
|
As incurred
|
Before opening
|
Contractors
|
|
34
Signs - Note
|
$6,000-$18,000
|
As incurred
|
Before opening
|
Suppliers
|
|
Opening inventory
|
$9,000-$12,500
|
Lump sum
|
Before opening
|
Suppliers
|
|
Miscellaneous
opening costs Note
|
$13,000-$16,000 Note
|
As incurred
|
As incurred
|
Suppliers,
utility
companies,
insurance
companies
|
|
Grand opening advertising
|
$ 3,000
|
As incurred
|
Within 60 days after opening
|
Suppliers
|
|
Additional funds - 3 months 36
Note
|
$15,000-$20,000
|
As incurred
|
As incurred
|
Suppliers,
utility
companies,
insurance
companies
|
|
TOTAL Note [5]
|
$585,500-$1,189,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
[1]BWR does not refund franchise
fees. All fees payable to BWR are non-refundable.
BWRdoesnotprovideftnancingforthefranchise fee or any other part of your initial
investment. There is a reduction in the fee if the franchisee commits to open
two or three restaurants.
[2]The costs for leasehold
improvements win vary depending upon several factors, including the geographic
location of your Franchised Restaurant, the size of the premises (as noted
above, our estimates are based on locations of approximately 3,000 to 4,500
square feet), the availability and cost of labor and materials, the condition
of the premises, and the work that the landlord will perform as the result of
lease negotiations. Landlords may, instead of performing some of the wont,
provide you with credits towards your future rent payments and/or a tenant
improvement allowance. We will provide you with standard plans and
specifications for a prototype Buffalo Wings & Rings Restaurant. We may
provide you with paper copies of these items or digitally in .PDF format after
you sign the franchise agreement. You will be responsible for adapting the
prototype plans to your particular location, complying with all laws applicable
to the site (such as the Americans with Disabilities Act), and obtaining all
zoning clearances and building permits and certificates. The figures are based
upon a landlord contribution of $25 to $35 per sq. ft. of tenant improvement
allowance.
[3]The total figures listed in the
above charts do not include an owner''s draw, compensation for your time or
labor, or real estate costs, and may not include the full cost of an alcoholic
beverage license. Nor do the total figures take into account any finance
charges, interest, debt service obligation, or other costs that you may incur
to finance all or any portion of your investment In addition to the initial
investment itemized in the chart above, you must have additional monies
available, whether in cash or through a line of credit, or have other assets
that you may liquidate, or against which you can borrow, to cover your personal
living expenses and any operating losses sustained during the start-up and
development stage of your business. You should review these figures carefully
with a business advisor before making any decision to purchase the franchise.
We do not offer direct or indirect financing to franchisees for any item. The
availability and terms of financing will depend upon your credit worthiness,
collateral that you may have and the lending policies of financial
institutions.
[4]BWR does not provide financing
for the franchise fee or any other part of your initial investment There is a
reduction in the fee if the franchisee commits to open two or three
restaurants.
[5]The total figures listed in the
above charts do not include an owner''s draw, compensation for your time or
labor, or real estate costs, and may not include the full cost of an alcoholic
beverage license. Nor do the total figures take into account any finance
charges, interest, debt service obligation, or other costs that you may incur
to finance all or any portion of your investment. In addition to the initial
investment itemized in the chart above, you must have additional monies
available, whether in cash or through a line of credit, or have other assets
that you may liquidate, or against which you can borrow, to cover your personal
living expenses and any operating losses sustained during the start-up and
development stage of your business. You should review these figures carefully
with a business advisor before making any decision to purchase the franchise.
We do not offer direct or indirect financing to franchisees for any item. The
availability and terms of financing will depend upon your credit worthiness,
collateral that you may have and the lending policies of financial
institutions.
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Franchise Categories
-
Franchises
-
Buffalo Wings And Rings
-
BUFFALO WINGS AND RINGS FDD & UFOC Data
-
BUFFALO WINGS AND RINGS FDD & UFOC ITEM 7
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