A: The Franchise Fee for first location agreements is $40,000. If you have an Area Development Agreement (ADA), the fee is $40,000 for the first location and a $10,000 deposit per each additional location in the ADA. The royalty fees are 5% of net sales.
A: The Marketing Development Fund is currently 1.5% of net sales.
A: An individual minimum net worth of $1,000,000 for a single restaurant developer with cash resources of $750,000
- For an Area Developer of 3 to 5 restaurants
- Minimum net worth of $2,000,000 with cash resources in excess of $1,000,000
- For an Area Developer of 6 to 10 restaurants
- Minimum net worth of $5,000,000 with cash resources in excess of $2,500,000
- Demonstrated ability to access capital as needed
A: No. We believe your first Sharky’s should be developed with individual or corporate assets. However, as you grow Sharky’s can direct you to sources of funding in the areas of equipment leasing, construction as well as SBA loans.
A: Due to Federal and State regulations, we are unable to provide you with specific restaurant sales. Examples of annual sales are listed in our Franchise Disclosure Document (FDD), which is on file with the Federal Trade Commission. Once we pre-qualify you and your Team through our application process you will have access to the FDD.
A: Federal Trade Commission regulations and various states regulating franchise sales activity restrict our ability to provide you with specific profit projections. To learn more about actual experiences, we encourage you to speak with existing Franchisees during your qualification process.
A: Sharky’s is actively seeking highly qualified individuals and Teams to become franchisees. Prior business experience, personal financial qualifications, individual motivation, and a track record of success are important factors in our evaluation process.
A: Each restaurant location is different with factors such as site selection, build-out requirements, and training. We have found the development cycle is approximately eight months from execution of the Franchise Agreement.
A: We promise to take good care of you. All Franchisees and their leadership Teams participate in a hands-on program designed for each level of leadership. For Franchise owners, there is a two-week executive training program, which emphasizes systems, organizational leadership and Sharky’s standards execution. For Operators and Kitchen Managers, there is an eight-week intensive hands-on training program, which covers all of the hourly Team functions, management systems and operating standards of the Sharky’s brand.
Q: Before I fill out an application, I’d like to know if a specific territory is open for franchising.
A: Our Development Team would be happy to answer that question for you. You can e-mail them at email@example.com
A: We’re always looking great locations. Please send the information to firstname.lastname@example.org