Description: Raising Cane's is a fast-food chain known for its signature items: chicken fingers, crinkle-cut fries, Texas toast, coleslaw, and Cane's sauce. The boldness of its brand and laser-focused menu have led to tremendous growth for Raising Cane's, from a single restaurant in Baton Rouge, Louisiana, founded by Todd Graves in 1996, to over 600 locations worldwide as of 2015. The popularity of Raising Cane's simple menu and emphasis on quality has earned it numerous accolades, including being named the ""fastest-growing chain"" by Nation's Restaurant News. The cost associated with becoming a Raising Cane's franchisee is significant. Franchisees can expect to pay an initial franchise fee of $45,000. Franchisees can expect to invest between $768,100 to $1,937,500 to open a Raising Cane's restaurant, which includes writing a check for real estate ($571,300-$1,285,800), equipment ($206,700-$336,200), etc. Franchisees are subject to a 5% royalty based on gross sales, as well as a 4% marketing fee, both consistent with the fees charged by McDonald's and Popeyes. However, Raising Cane's average unit volume (AUV) of $4.6 million substantially outpaces Wendy's ($1.6 million) and Taco Bell ($1.7 million), and rivals Chick-fil-A. Raising Cane's franchisees receive several important advantages, including: a proven business model, national marketing/advertising support, bulk purchasing power for food and supplies, and training and support through the Restaurant Support Office (RSO). Additionally, Raising Cane's franchisees have established a strong relationship with the community, built loyalty, and continue to provide expansion opportunities through the development of multi-unit franchises. Conversely, franchisees may face a limited food menu, high startup costs, strong competition from KFC, and significant employee turnover. Raising Cane's provides a collection of hip culture, exceptional customer service, and profitable concepts for franchisees looking to dominate the fast-food industry. Start creating your Cane's empire at Raising Cane's now!
Category: Finance
Tag: raising cane's franchise