What qualifications do we seek in potential franchisees?
The following qualifications, among others are essential in order to be considered for a franchise to operate a BENIHANA restaurant:
- An entrepreneurial spirit and strong desire to succeed.
- The ability to motivate and train people.
- The ability to manage finances.
- The willingness to personally devote full time and best efforts to the day-to-day operation of the restaurant as an on-premises franchisee.
- The willingness to complete a comprehensive training and evaluation program on a part-time basis, in order to become proficient in all aspects of running the restaurant business.
- Meeting the financial qualifications.
What assets are initially required to build a franchise?
We recommends liquid assets of at least $600,000 per unit.
Does BNC finance franchisees internally?
No. BNC constantly networks with franchisee financing sources around the country to provide you with referrals for the best prospective lenders available, but it is each franchisee’s responsibility to source and qualify for financing on the merits of his or her own financial strength.
What is the availability of securing a site in my area?
The availability of franchises in specific areas will be discussed during your initial interview.
What are the royalty fees if any for a BENIHANA restaurant franchise?
A continuing royalty fee of five percent will be charged monthly based on gross sales at your restaurant.
How can I obtain a copy of your franchise agreement?
Our franchise agreement was developed by specialists in franchising and is a valuable document which we distribute only to serious applicants. We will be happy to provide you with a copy of the Franchisee Agreement and our FDD during the first face-to-face meeting.
What are the total costs for building a Benihana franchise?
The approximate cost to build a typical freestanding Benihana restaurant in a suburban market is $2.2 Million to $2.8 Million.. This would be approximately 7,000 square feet with a dining capacity of 16 teppanyaki tables or 128 patrons.
What should my earning expectations be?
Franchise law limits the kind of earnings information BNC can provide to Prospective franchisees. We will provide you with enough information to assist you in completing your own projected profit and loss statements, which will allow you to arrive at a comfort level with earning expectations. You may also obtain information from other franchisees in order to help you in making your investment decision.
What is the licensing fee for a franchise?
The initial fee per license issued is $40,000 per Domestic Franchise Agreement and $50,000 per Franchise Agreement in Central/South America (excluding Mexico) or the Caribbean. The fee covers the issuance of the license and the right to use BNC’s intellectual property, as well as helping to defray BNC’s costs and expenses in connection with our assistance and supervision in site selection, construction of the building and improvements, opening of the restaurant, training of staff, enforcement and protection of trademarks, and costs incidental to locating sources of supply.