Premium quick-service restaurant Fazoli’s, recently rated #2 overall among large national fast food chains in the prestigious Zagat Survey, is extending its franchise incentive program an additional nine months to the end of 2013. New franchisees can save at least $30,000 on a single new unit. Franchisees opening multiple units under an area development agreement can save up to $50,000 per unit. The program combines reduced franchise fees and royalty discounts for new and converted traditional, freestanding, and inline units.
Industry News | March 6, 2013
Fazoli’s Extends Franchise Sales Incentive Program
“Since the beginning of the year, we have seen a significant uptick in interest from prospective franchisees,” says Craig Sherwood, vice president of franchise development. “These candidates are responding to the economic upturn and better lending environment, and they are recognizing that Fazoli’s offers a very unique, competitive quick service restaurant opportunity.” The brand has reported 10 consecutive quarters of same-store sales growth, recently expanded into travel centers and opened an all-new prototype design. “Guests have noticed that Fazoli’s has dramatically raised the bar in the premium quick service restaurant segment, with higher quality food, enhanced service, and a contemporary new design,” Sherwood adds. “Now, potential franchisees also are responding to the ‘whole new Fazoli’s.’”
The incentives improve with level of commitment and were created, in part, to encourage development of multiple units in a single market. The initial $30,000 franchise fee can be reduced to $20,000 for the first new restaurant and to $10,000 for a second one. The franchise fee can be waived entirely for the third and additional units. Also, the first $20,000 in royalties can be waived for each unit opened. Agreements must be signed by December 31, 2013, and the units must be opened on a specified schedule.
Incentives are subject to the complete rules and eligibility requirements of the program at the time an agreement is signed. Program details are available upon completion and review of a franchise application.