Start-Up Costs and Fees |
||
| Damon's | Mr. Mike's Steakhouse & Bar | |
| Investment | 1200000 - 3200000 | 600000 - 1200000 |
| Franchise Fee | 0 | 0 |
| Royalty Fee | 4% | |
| Advertising Fee | ||
| Year Founded | 1979 | 1960 |
| Year Franchised | 1982 | 0 |
| Term Of Agreement | ||
| Term Of Agreement | ||
| Renewal Fee | ||
Business Experience Requirements |
||
| Damon's | Mr. Mike's Steakhouse & Bar | |
| Experience | Industry experience | |
Financing Options |
||
| Damon's | Mr. Mike's Steakhouse & Bar | |
| Franchise Fees | No | |
| Start-up Costs | No | |
| Equipment | No | |
| Inventory | No | |
| Receivables | No | |
| Payroll | No | |
Training & Support |
||
| Damon's | Mr. Mike's Steakhouse & Bar | |
| Training | ||
| Support | Meetings, Toll-free phone line, Grand opening, Internet, Field operations/evaluations, Purchasing cooperatives | |
| Marketing | Co-op advertising, Ad slicks, Regional advertising | |
| Operations | Franchisees required to buy multiple units/master licenses; 90% of all franchisees own more than one unit Number of employees needed to run franchised unit: 80 Absentee ownership of franchise is allowed. (95% of current franchisees are owner/operators) | |
Expansion Plans |
||
| Damon's | Mr. Mike's Steakhouse & Bar | |
| US Expansion | Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Minnesota, Missouri, Mississippi, Montana, Nebraska, North Carolina, North Dakota, New Hampshire, New Jersey, New Mexico, Nevada, New York, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Vermont, Washington, Wisconsin, West Virginia, Wyoming, | |
| Canada Expansion | ||
| International Expansion |
Start-Up Costs and Fees Mobile |
|
| Investment | |
| Damon's | |
| Mr. Mike's Steakhouse & Bar | |
| Franchise Fee | |
| Damon's | |
| Mr. Mike's Steakhouse & Bar | |
| Royalty Fee | |
| Damon's | 4% |
| Mr. Mike's Steakhouse & Bar | |
| Advertising Fee | |
| Damon's | |
| Mr. Mike's Steakhouse & Bar | |
| Year Founded | |
| Damon's | 1979 |
| Mr. Mike's Steakhouse & Bar | 1960 |
| Year Franchised | |
| Damon's | 1982 |
| Mr. Mike's Steakhouse & Bar | 0 |
| Term Of Agreement | |
| Damon's | 10 years |
| Mr. Mike's Steakhouse & Bar | |
| Renewal Fee | |
| Damon's | |
| Mr. Mike's Steakhouse & Bar | |
Business Experience Requirements |
|
| Experience | |
| Damon's | Industry experience |
| Mr. Mike's Steakhouse & Bar | |
Financing Options |
|
| Franchise Fees | |
| Damon's | No |
| Mr. Mike's Steakhouse & Bar | No |
| Start-up Costs | |
| Damon's | |
| Mr. Mike's Steakhouse & Bar | |
| Equipment | |
| Damon's} | |
| Mr. Mike's Steakhouse & Bar | |
| Inventory | |
| Damon's | |
| Mr. Mike's Steakhouse & Bar | |
| Receivables | |
| Damon's | |
| Mr. Mike's Steakhouse & Bar | |
| Payroll | |
| Damon's | |
| Mr. Mike's Steakhouse & Bar | |
Training & Support |
|
| Training | |
| Damon's | |
| Mr. Mike's Steakhouse & Bar | |
| Support | |
| Damon's | Meetings, Toll-free phone line, Grand opening, Internet, Field operations/evaluations, Purchasing cooperatives |
| Mr. Mike's Steakhouse & Bar | |
| Marketing | |
| Damon's | Co-op advertising, Ad slicks, Regional advertising |
| Mr. Mike's Steakhouse & Bar | |
| Operations | |
| Damon's | Franchisees required to buy multiple units/master licenses; 90% of all franchisees own more than one unit Number of employees needed to run franchised unit: 80 Absentee ownership of franchise is allowed. (95% of current franchisees are owner/operators) |
| Mr. Mike's Steakhouse & Bar | |
Expansion Plans |
|
| US Expansion | |
| Damon's | Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Minnesota, Missouri, Mississippi, Montana, Nebraska, North Carolina, North Dakota, New Hampshire, New Jersey, New Mexico, Nevada, New York, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Vermont, Washington, Wisconsin, West Virginia, Wyoming, |
| Mr. Mike's Steakhouse & Bar | |
| Canada Expansion | |
| Damon's | |
| Mr. Mike's Steakhouse & Bar | |
| International Expansion | |
| Damon's | |
| Mr. Mike's Steakhouse & Bar | |