Honey Baked Ham Co., the leading retail provider of delectable hams and gourmet meals, announced today its ambitious franchise growth plan and compelling new incentive program with over 200 areas available for development, propelling the brand into a new era of nationwide expansion.
The new incentive program officially launched on July 2. Newly executed single and multi-store development agreements can expect a first-year 0% royalty waiver, reduced development fee and a $10,000 marketing spend. Honey Baked Ham aims to provide a distinct advantage, offering new franchisees a strong financial footing and ensuring that they are equipped with the skills and knowledge needed to thrive in the competitive food industry.
“It is an exciting time at Honey Baked Ham as we enter this new wave of nationwide growth through our reimagined franchise development initiatives,” says Scott Temme, Franchise Sales Development Manager at Honey Baked Ham. “With our extensive history and clear vision for the future, we are aiming to establish our brand into more markets across the nation and this program will help accomplish that. We are not only providing unprecedented benefits to franchisees but also charting a path towards an even brighter future for our brand.”
Honey Baked Ham plans to develop 60 stores over the next six years, with an anticipated eight stores opening by end of year. The incentive program will be a driving factor behind meeting this expectation. The brand’s focus on target states such as Texas, Florida and Georgia reflect its strategic approach to market expansion, harnessing the potential of promising growth opportunities and customer demand.
Driven by its commitment to providing exceptional products and experiences, Honey Baked Ham has become a household name with a loyal customer base. Building on this success, the brand has a goal to double its revenue within the next six years and aims to further elevate its presence in the franchising industry. The brand’s newly developed incentive program boosts franchisee potential while capitalizing on the brand’s trusted reputation.
While Honey Baked Ham is widely celebrated for its signature holiday hams, the brand offers four additional revenue streams to fuel continuous growth. With year-round lunch service, a popular lunch box catering program and a highly successful gifting program, Honey Baked Ham ensures that customers can savor its delectable offerings beyond traditional occasions. Honey Baked Ham also boasts an impressive industry FundScore of 830, ranking in the top 10% due to its low closure rates, showcasing its stability and success in the market.
With an impressive 62% of its franchisees already operating multiple stores, Honey Baked Ham possesses a robust network of experienced owners ready to take advantage of expansion opportunities. The growth momentum for Honey Baked Ham has already begun as it recently signed its largest franchise agreement in the brand’s history. The esteemed Davis Restaurant Group, an existing franchisee, committed to developing seven stores across four states – North Carolina, Maryland, West Virginia, and Minnesota – by 2025.
“As an existing franchisee, we have experienced firsthand the tremendous support that comes with being part of the Honey Baked Ham family,” says Matt Davis, President of the Davis Restaurant Group. “The introduction of this incentive program reaffirms our confidence in the brand’s commitment to continued franchisee growth. This program truly reflects a new chapter of expansion, and we are excited to contribute to the continued success of Honey Baked Ham.”
Honey Baked Ham is actively seeking passionate entrepreneurs to join its thriving franchise network. The brand encourages scalability, long-term growth and active community involvement in its franchisee candidates. By capitalizing on its unrivaled products, proven business model, and comprehensive support system, Honey Baked Ham is set to revolutionize the franchise industry while ensuring a glazing path to success.