My Friend's Place vs The HoneyBaked Ham Company & Cafe Franchise Comparison

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

Start-Up Costs and Fees
  My Friend's Place The HoneyBaked Ham Company & Cafe
Investment 156650 - 260400 292900 - 567600
Franchise Fee 0
Royalty Fee 5% 6%
Advertising Fee 1% 3.25%
Year Founded 1980 1957
Year Franchised 1980 1998
Term Of Agreement
Term Of Agreement
Renewal Fee


Business Experience Requirements
  My Friend's Place The HoneyBaked Ham Company & Cafe
Experience Industry experience General business experience Marketing skills

Financing Options
  My Friend's Place The HoneyBaked Ham Company & Cafe
 
Franchise Fees No
Start-up Costs No
Equipment No
Inventory No
Receivables No
Payroll No

Training & Support
  My Friend's Place The HoneyBaked Ham Company & Cafe
Training 1. Headquarters 12 Business Days 2. Franchisee Site 12 Business Days Comprehensive two-week training, both in-store and in a classroom. Ongoing training through conferences and webinars. On-The-Job Training: 97 hours Classroom Training: 25 hours
Support Field Operation Evaluation Field Training: At Additional Cost Initial Store Opening Inventory Control: At Additional Cost 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 slicks, National media, Regional advertising
Operations Average Number of Employees: 2 Full-time, 2 Part-time Passive Ownership: Not Allowed 25% of all franchisees own more than one unit Number of employees needed to run franchised unit: 7 - 10 Absentee ownership of franchise is allowed. (100% of current franchisees are owner/operators)

Expansion Plans
  My Friend's Place The HoneyBaked Ham Company & Cafe
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

Start-Up Costs and Fees Mobile
Investment
My Friend's Place
The HoneyBaked Ham Company & Cafe
Franchise Fee
My Friend's Place
The HoneyBaked Ham Company & Cafe
Royalty Fee
My Friend's Place 5%
The HoneyBaked Ham Company & Cafe 6%
Advertising Fee
My Friend's Place 1%
The HoneyBaked Ham Company & Cafe 3.25%
Year Founded
My Friend's Place 1980
The HoneyBaked Ham Company & Cafe 1957
Year Franchised
My Friend's Place 1980
The HoneyBaked Ham Company & Cafe 1998
Term Of Agreement
My Friend's Place
The HoneyBaked Ham Company & Cafe 7 years
Renewal Fee
My Friend's Place
The HoneyBaked Ham Company & Cafe


Business Experience Requirements
Experience
My Friend's Place
The HoneyBaked Ham Company & Cafe Industry experience General business experience Marketing skills

Financing Options
 
Franchise Fees
My Friend's Place
The HoneyBaked Ham Company & Cafe
Start-up Costs
My Friend's Place
The HoneyBaked Ham Company & Cafe
Equipment
My Friend's Place}
The HoneyBaked Ham Company & Cafe
Inventory
My Friend's Place
The HoneyBaked Ham Company & Cafe
Receivables
My Friend's Place
The HoneyBaked Ham Company & Cafe
Payroll
My Friend's Place
The HoneyBaked Ham Company & Cafe

Training & Support
Training
My Friend's Place 1. Headquarters 12 Business Days 2. Franchisee Site 12 Business Days
The HoneyBaked Ham Company & Cafe Comprehensive two-week training, both in-store and in a classroom. Ongoing training through conferences and webinars. On-The-Job Training: 97 hours Classroom Training: 25 hours
Support
My Friend's Place Field Operation Evaluation Field Training: At Additional Cost Initial Store Opening Inventory Control: At Additional Cost
The HoneyBaked Ham Company & Cafe 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
The HoneyBaked Ham Company & Cafe Co-op advertising, Ad slicks, National media, Regional advertising
Operations
My Friend's Place Average Number of Employees: 2 Full-time, 2 Part-time Passive Ownership: Not Allowed
The HoneyBaked Ham Company & Cafe 25% of all franchisees own more than one unit Number of employees needed to run franchised unit: 7 - 10 Absentee ownership of franchise is allowed. (100% of current franchisees are owner/operators)

Expansion Plans
US Expansion
My Friend's Place Alabama, Florida, Georgia, Indiana, South Carolina, Texas
The HoneyBaked Ham Company & Cafe 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
The HoneyBaked Ham Company & Cafe
International Expansion
My Friend's Place
The HoneyBaked Ham Company & Cafe