INVESTMENT AND FRANCHISING
Fast Eddie’s? is a franchised operation that requires a total investment of $245,000 to $295,000. Although this money is available to you by way of loan, we recommend that you have $70,000 to $100,000 available in unencumbered cash. We are of the belief that this amount of money is required so that you do not have to carry unreasonable debt load entering the business. If funds are to be borrowed against the equity in your home, we recommend that the mortgage be supported by a sufficient outside source of income. For example, one spouse continues to work outside the business. The following chart summarizes the total cost of purchasing a new Fast Eddie’s? Twin Drive-Thru Franchised restaurant.
|TOTAL PURCHASE PRICE ESTIMATE||LOW||HIGH|
|Equipment and Smallwares||110,000||130,000|
|TOTAL PRICE ESTIMATE||245,000||295,000|
Fast Eddie’s? will assist in arranging financing for you and your new Fast Eddie’s? Franchise. Usually we suggest a Canadian Small Business Loan (CSBL). Fast Eddie’s? and it’s agents will help to prepare a comprehensive business plan for your new Franchise Location and submit all necessary requirements to your preferred financial institution for approval.
|SOURCE OF FUNDS||LOW||HIGH|
|Cash needed to qualify||70,000||100,000|
|CSBL loan for the rest||175,000||195,000|
|TOTAL FRANCHISE COST||245,000||295,000|
- Food service sales in Canada are quickly approaching 50 Billion dollars annually.
- Food service sales are growing at about 3% year, twice the Canadian GDP.
- Limited Service “Sales per Store” grew 6.8% verses Full Service at 2.6%, 2001
- More than 64% of restaurant meals are sourced form QSR’s (quick service restaurants) – up from 58% in 1996.
- Less than 27% of restaurant meals are sourced from full-service restaurants (FSR’s)
- Off premise dining has outpaced on premise dining, driven largely by drive-thru service.
- Since 1996 drive-thru traffic has doubled from 8.4% to 18.1%.
- 2001 60% of all snacks were eaten away from the restaurant where it was purchased.
- Top 3 Foods: French fries, Hamburgers, Unsweetened baked goods.
- Top 3 Beverages: Coffee, Soft Drinks, Diet Soft Drinks