What are my start-up costs?
Tom & Chee is a low-cost investment with the potential for enormous financial rewards
Tom & Chee is one of the most affordable franchise concepts in the $23 billion sub and sandwich category. This makes Tom & Chee an outstanding opportunity for first-time business owners and experienced restaurateurs alike. The total cost to invest in a Tom & Chee franchise ranges from $302,700-$456,000, which is well below other brands in the fast-casual category.
Because our franchisees invest real money, passion and time to make their businesses a success, Tom & Chee offers one of the most comprehensive support platforms in the industry. We’re with you every step of the way — from finding the perfect location for your restaurant, to marketing support, regular site visits from field representatives, financial coaching, and state-of-the-art technology to make the ongoing running of your restaurant easier than ever before. Our team makes sure you’re not alone. The cost of a restaurant franchise is important, as are the steps to making your dream come true. That’s why we’re here to help.
Here is a breakdown of our start-up costs:
|Type of Expenditure||Amount||Method of Payment||When Due||To Whom Payment Is To|
|Initial Franchise Fee||$5,000 to $30,000||Cashier's Check||At signing of Franchise Agreement||TCWW|
|Leasing, Real Property & Site Work Costs||(See Note 1)||As Arranged||Before Opening||Lessor or Property Owner; Other third Parties|
|Furniture, Fixtures and Equipment||$90,000 to $120,000||As Arranged||Before Opening||Approved Suppliers|
|Building, Construction and Leasehold Improvements||$145,000 to $175,000||(See Note 4)||(See Note 4)||(See Note 4)|
|Utility Deposits||$500 to $1,500||As Arranged||Before Opening||Suppliers and Utilities|
|Architectural and Engineering Fees||$7,000 to $15,000||As Arranged||Before Opening||Approved Suppliers|
|Initial Inventory||$4,000 to $8,000||As Arranged||Before Opening||TCWW, Approved Suppliers|
|Insurance||$2,000 to $4,000||As Arranged||Before Beginning Operations||Insurance Companies|
|Signs and Awning||$6,000 to $18,000||As Arranged||Before Opening||Approved Contractors|
|Training||$15,000 to $25,000||As Arranged||Before Opening||Employees, Miscellaneous Vendors|
|Licenses & Permits||$1,500 to $4,000||As Arranged||Before Beginning Operations||Licensing Authorities|
|Legal & Accounting||$1,500 to $3,000||As Arranged||Before Beginning Operations||Attorney, Accountant|
|Office Equipment and Supplies||$200 to $500||As Arranged||Before Opening||Suppliers|
|Computer Equipment (Hardware/Software/POS System)||$7,000 to $15,000||As Arranged||Before Opening||Approved Suppliers|
|Grand Opening Advertising||$5,000||As Arranged||Within 3 Months of Opening||Miscellaneous Vendors|
|Beer and Wine Licenses (optional)||$3,000 to $7,000||As Arranged||Before Beginning Business||Licensing Authorities|
|Additional Funds - 3 months||$10,000 to $25,000||As Arranged||As Incurred||TCWW, Employees, Suppliers, Utilities, Insurers, Professionals, Etc.|
|Total||$302,700 to $456,000|
Note 1: The information provided is estimated and is based on an average Restaurant size of 1,400 to 1,800 square feet (excluding Special Purpose Outlets) and not including the cost of land or site improvements. Estimates are provided for both a free-standing building or inline at a shopping center. Your actual investment and cost for a restaurant franchise will vary depending upon a variety of factors peculiar to your Restaurant, including location, local real estate market values, size and other physical characteristics, and your financial condition, business decisions and negotiating success and other factors. Unless otherwise stated all payments are nonrefundable. TCWW does not finance any fees or expenses.
Note 4: If you do not already own or lease an appropriate site, you must purchase or lease a site for the Restaurant. Typical locations for Restaurants are urban or other heavily populated areas. The typical Restaurant(not including Special PurposeOutlets) utilizes approximately 1,400 to 1,800 square feet. Rent can vary tremendously (we estimate that minimum rent for a Restaurant (not including Special Purpose Outlets) is between $19,500 and $70,000 per year) depending on various factors, including the size, condition and location of the leased premises, and cannot be estimated with any accuracy. If you purchase a site for the Franchise, the amount of land required will depend on various factors, including the size of the facility, the type of area, the availability of adjacent parking, etc. An estimate of the size of the parcel needed would be anywhere from ¾ acre to 1 acre with a building on the parcel, and the cost would vary tremendously and cannot be estimated accurately. Similarly, the costs of renovation or construction, and improvements, for purchased or leased premises also may vary tremendously and cannot be estimated with any accuracy.