Quiznos Franchise

Location

New York

Industry

Food Services

Phase

Start up

Company

Multi-Owner Corporation/LLC

Author

bigFish

Overview

Opening a Quiznos restaurant in Brooklyn, serving the community of Park Slope or Sunset Park

The Company

Company needs

Looking for financing(Loans)

Looking for Accountant

Looking for Lawyer

Business Description

Quiznos is a top ranked restaurant and franchise by Nation Restaurant News and Entrepreneur Magazine

Product or services

Toasted subs, soups and salads

Preferred Finance Source: Commercial Lenders Asset Based Lenders
Projections Expect to gross over 400K in the first year, and grow by 10 to 20% there after
Invested so far:			Funds required:
$50,000-$100,000			$100,000-$250,000
Funds has been spent on:			Funds will be spent on:
Money for the franchise fees and start up expenses. This includes training.			Intial store launch, base inventory, equipment, leasehold improvements, initial advertising, salaries, and other expenses

Management & Marketing

Management Team

Experienced in Real Estate Management and Business Management. Looking for franchise to invest.

Target Market & Marketing Strategy

People in the area looking for a good alternative to fast food.

Questions & Additional information

Looking for info that can help me get started. Ideas or advise on potential issues. I am new to the restaurant business.

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Welcome BigFish, we actually

Submitted by Guideye on Tue, 01/30/2007 - 1:02pm.

Welcome BigFish, we actually have some experience working with franchises, (including Quiznos) we will be happy to help you.

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Hey, thanks, I can use all

Submitted by bigFish on Wed, 01/31/2007 - 3:39pm.

Hey, thanks, I can use all the help possible. Right now I am starting to do my research. I am going to call the franchise representatives. Appreciate all the help I can get.

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I have done some research

Submitted by Guideye on Thu, 02/01/2007 - 1:49pm.

I have done some research for you:

This is a quick report from Hoovers.com

http://premium.hoovers.com/subscribe/co/profile.xhtml?ID=ffffcyktjrhsfskctt

It gives you the basics of the company, and a good point for you to start doing your research.

Franchise Info from Entrepreneur.com

"Total investment: $71.7K-251.1K
Express/kiosk option available
Franchise fee: $10K-25K
Ongoing royalty fee: 7%
Term of agreement: 15 years, renewable
Renewal fee: $1K"

Net worth requirement: $125K
Cash liquidity requirement: $60K (although on quiznos website they require 70K)

http://www.entrepreneur.com/franchises/quiznossub/282737-1.html

This is some info from Quiznos website:

Average store total cost between 190K to 250K

Allocate 3% for advertising costs.

More info here http://www.quiznosfranchises.com/franchise_faq.asp

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Wow

Submitted by bigFish on Thu, 02/01/2007 - 1:59pm.

That's a lot of info, thank you Guideye!

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I have a question about

Submitted by bigFish on Mon, 02/05/2007 - 5:04pm.

I have a question about loans,

How do Banks treat franchises? Which banks do you guys think will be good for this franchise?

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Banks treat franchise as any

Submitted by Guideye on Tue, 02/06/2007 - 1:02pm.

Banks treat franchise as any other business, they have favored businesses as well as they have favored franchises. By the way, most banks have more strict underwritting (the process of reviewing the loan) for restaurants.

However, the fact that you are starting a franchise, (even though it is in the restaurant business) may actually help you in your application, because banks may have more information to work with regarding the franchise you are trying to open.

Banks that you may like to try are: CIT (technically they are a non-bank institution), Bank of New York, Banco Popular.

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