My Friend's Place vs Mr. Goodcents Franchise Comparison

Below is an in-depth analysis and side-by-side comparison of My Friend's Place vs Mr. Goodcents including start-up costs and fees, business experience requirements, training & support and financing options.

Start-Up Costs and Fees
  My Friend's Place Mr. Goodcents
Investment 156650 - 260400 211432 - 431843
Franchise Fee 0
Royalty Fee 5% 6%
Advertising Fee 1% 3.50%
Year Founded 1980 1988
Year Franchised 1980 1990
Term Of Agreement
Term Of Agreement
Renewal Fee


Business Experience Requirements
  My Friend's Place Mr. Goodcents
Experience Industry experience General business experience Marketing skills

Financing Options
  My Friend's Place Mr. Goodcents
 
Franchise Fees No
Start-up Costs No
Equipment No
Inventory No
Receivables No
Payroll No

Training & Support
  My Friend's Place Mr. Goodcents
Training 1. Headquarters 12 Business Days 2. Franchisee Site 12 Business Days On-The-Job Training: 120 hours Classroom Training: 40 hours
Support Field Operation Evaluation Field Training: At Additional Cost Initial Store Opening Inventory Control: At Additional Cost Purchasing Co-ops Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection Proprietary Software Franchisee Intranet Platform
Marketing Co-op Advertising Ad Templates National Media Regional Advertising Social media SEO Website development Email marketing Loyalty program/app
Operations Average Number of Employees: 2 Full-time, 2 Part-time Passive Ownership: Not Allowed Franchisees required to buy multiple units/master licenses; 30% of all franchisees own more than one unit Number of employees needed to run franchised unit: 10 Absentee ownership of franchise is allowed.

Expansion Plans
  My Friend's Place Mr. Goodcents
US Expansion Alabama, Florida, Georgia, Indiana, South Carolina, Texas Nationwide, Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Guam, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming
Canada Expansion
International Expansion Worldwide, Afghanistan, Albania, Algeria, American Samoa, Andorra, Anguilla, Antigua & Barbuda, Argentina, Aruba, Australia, Austria, Azores, Bahamas, Bahrain, Bangladesh, Barbados, Belarus, Belgium, Belize, Benin, Bermuda, Bolivia, Bonaire, Bosnia, Botswana, Brazil, British Virgin Islands, Brunei, Bulgaria, Burkina Faso, Burundi, Cambodia, Cameroon, Canada, Canary Islands, Cape Verde Islands, Cayman Islands, Central African Republic, Chad, Channel Islands, Chile, China, Colombia, Congo, Cook Islands, Costa Rica, Croatia, Curacao, Cyprus, Czech Republic, Denmark, Djibouti, Dominica, Dominican Republic, Ecuador, Egypt, El Salvador, England, Equitorial Guinea, Eritrea, Estonia, Ethiopia, Faeroe Islands, Federated States of Micronesia, Fiji, Finland, France, French Guiana, French Polynesia, Gabon, Gambia, Georgia, Germany, Ghana, Gibraltar, Greece, Greenland, Grenada, Guadeloupe, Guam, Guatemala, Guinea, Guinea-Bissau, Guyana, Haiti, Holland, Honduras, Hong Kong, Hungary, Iceland, India, Indonesia, Ireland, Israel, Italy, Ivory Coast, Jamaica, Japan, Jordan, Kazakhstan, Kenya, Kiribati, Kosrae, Kuwait, Kyrgyzstan, Laos, Latvia, Lebanon, Lesotho, Liberia, Liechtenstein, Lithuania, Luxembourg, Macau, Macedonia, Madagascar, Madeira, Malawi, Malaysia, Maldives, Mali, Malta, Marshall Islands, Martinique, Mauritania, Mauritius, Mexico, Moldova, Monaco, Montserrat, Morocco, Mozambique, Myanmar, Namibia, Nepal, Netherlands, Netherlands Antilles, New Caledonia, New Zealand, Nicaragua, Niger, Nigeria, Norfolk Island, Northern Ireland, Northern Mariana Islands, Norway, Oman, Pakistan, Palau, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Poland, Ponape, Portugal, Puerto Rico, Qatar, Republic of Yemen, Reunion, Romania, Rota, Russia, Rwanda, Saba, Saipan, Saudi Arabia, Scotland, Senegal, Seychelles, Sierra Leone, Singapore, Slovakia, Slovenia, Solomon Islands, South Africa, South Korea, Spain, Sri Lanka, St. Barthelemy, St. Christopher, St. Croix, St. Eustatius, St. John, St. Kitts & Nevis, St. Lucia, St. Maarten, St. Martin, St. Thomas, St. Vincent & the Grenadines, Sudan, Suriname, Swaziland, Sweden, Switzerland, Syria, Tahiti, Taiwan, Tajikistan, Tanzania, Thailand, Tinian, Togo, Tonga, Tortola, Trinidad & Tobago, Truk, Tunisia, Turkey, Turks & Caicos Islands, Tuvalu, Uganda, Ukraine, Union Island, United Arab Emirates, United Kingdom, United States, Uruguay, US Virgin Islands, Uzbekistan, Vanuatu, Venezuela, Vietnam, Virgin Gorda, Wake Island, Wales, Wallis & Futuna Islands, Western Samoa, Yap, Yugoslavia, Zaire, Zambia, Zimbabwe

Start-Up Costs and Fees Mobile
Investment
My Friend's Place
Mr. Goodcents
Franchise Fee
My Friend's Place
Mr. Goodcents
Royalty Fee
My Friend's Place 5%
Mr. Goodcents 6%
Advertising Fee
My Friend's Place 1%
Mr. Goodcents 3.50%
Year Founded
My Friend's Place 1980
Mr. Goodcents 1988
Year Franchised
My Friend's Place 1980
Mr. Goodcents 1990
Term Of Agreement
My Friend's Place
Mr. Goodcents 10 years
Renewal Fee
My Friend's Place
Mr. Goodcents 60% of current fee


Business Experience Requirements
Experience
My Friend's Place
Mr. Goodcents Industry experience General business experience Marketing skills

Financing Options
 
Franchise Fees
My Friend's Place
Mr. Goodcents
Start-up Costs
My Friend's Place
Mr. Goodcents
Equipment
My Friend's Place}
Mr. Goodcents
Inventory
My Friend's Place
Mr. Goodcents
Receivables
My Friend's Place
Mr. Goodcents
Payroll
My Friend's Place
Mr. Goodcents

Training & Support
Training
My Friend's Place 1. Headquarters 12 Business Days 2. Franchisee Site 12 Business Days
Mr. Goodcents On-The-Job Training: 120 hours Classroom Training: 40 hours
Support
My Friend's Place Field Operation Evaluation Field Training: At Additional Cost Initial Store Opening Inventory Control: At Additional Cost
Mr. Goodcents Purchasing Co-ops Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection Proprietary Software Franchisee Intranet Platform
Marketing
My Friend's Place
Mr. Goodcents Co-op Advertising Ad Templates National Media Regional Advertising Social media SEO Website development Email marketing Loyalty program/app
Operations
My Friend's Place Average Number of Employees: 2 Full-time, 2 Part-time Passive Ownership: Not Allowed
Mr. Goodcents Franchisees required to buy multiple units/master licenses; 30% of all franchisees own more than one unit Number of employees needed to run franchised unit: 10 Absentee ownership of franchise is allowed.

Expansion Plans
US Expansion
My Friend's Place Alabama, Florida, Georgia, Indiana, South Carolina, Texas
Mr. Goodcents Nationwide, Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Guam, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming
Canada Expansion
My Friend's Place
Mr. Goodcents
International Expansion
My Friend's Place
Mr. Goodcents Worldwide, Afghanistan, Albania, Algeria, American Samoa, Andorra, Anguilla, Antigua & Barbuda, Argentina, Aruba, Australia, Austria, Azores, Bahamas, Bahrain, Bangladesh, Barbados, Belarus, Belgium, Belize, Benin, Bermuda, Bolivia, Bonaire, Bosnia, Botswana, Brazil, British Virgin Islands, Brunei, Bulgaria, Burkina Faso, Burundi, Cambodia, Cameroon, Canada, Canary Islands, Cape Verde Islands, Cayman Islands, Central African Republic, Chad, Channel Islands, Chile, China, Colombia, Congo, Cook Islands, Costa Rica, Croatia, Curacao, Cyprus, Czech Republic, Denmark, Djibouti, Dominica, Dominican Republic, Ecuador, Egypt, El Salvador, England, Equitorial Guinea, Eritrea, Estonia, Ethiopia, Faeroe Islands, Federated States of Micronesia, Fiji, Finland, France, French Guiana, French Polynesia, Gabon, Gambia, Georgia, Germany, Ghana, Gibraltar, Greece, Greenland, Grenada, Guadeloupe, Guam, Guatemala, Guinea, Guinea-Bissau, Guyana, Haiti, Holland, Honduras, Hong Kong, Hungary, Iceland, India, Indonesia, Ireland, Israel, Italy, Ivory Coast, Jamaica, Japan, Jordan, Kazakhstan, Kenya, Kiribati, Kosrae, Kuwait, Kyrgyzstan, Laos, Latvia, Lebanon, Lesotho, Liberia, Liechtenstein, Lithuania, Luxembourg, Macau, Macedonia, Madagascar, Madeira, Malawi, Malaysia, Maldives, Mali, Malta, Marshall Islands, Martinique, Mauritania, Mauritius, Mexico, Moldova, Monaco, Montserrat, Morocco, Mozambique, Myanmar, Namibia, Nepal, Netherlands, Netherlands Antilles, New Caledonia, New Zealand, Nicaragua, Niger, Nigeria, Norfolk Island, Northern Ireland, Northern Mariana Islands, Norway, Oman, Pakistan, Palau, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Poland, Ponape, Portugal, Puerto Rico, Qatar, Republic of Yemen, Reunion, Romania, Rota, Russia, Rwanda, Saba, Saipan, Saudi Arabia, Scotland, Senegal, Seychelles, Sierra Leone, Singapore, Slovakia, Slovenia, Solomon Islands, South Africa, South Korea, Spain, Sri Lanka, St. Barthelemy, St. Christopher, St. Croix, St. Eustatius, St. John, St. Kitts & Nevis, St. Lucia, St. Maarten, St. Martin, St. Thomas, St. Vincent & the Grenadines, Sudan, Suriname, Swaziland, Sweden, Switzerland, Syria, Tahiti, Taiwan, Tajikistan, Tanzania, Thailand, Tinian, Togo, Tonga, Tortola, Trinidad & Tobago, Truk, Tunisia, Turkey, Turks & Caicos Islands, Tuvalu, Uganda, Ukraine, Union Island, United Arab Emirates, United Kingdom, United States, Uruguay, US Virgin Islands, Uzbekistan, Vanuatu, Venezuela, Vietnam, Virgin Gorda, Wake Island, Wales, Wallis & Futuna Islands, Western Samoa, Yap, Yugoslavia, Zaire, Zambia, Zimbabwe