If you want to own a small business, there are many options. You can start your own venture, you can buy someone’s business, or you can join a franchise.
Having your own business is very risky, and many people who start a business from scratch fail. Plus, when you start your own business, you have to determine what product or service to sell, how to create the products or services, and how to connect with customers and convince them to buy from you. Buying an existing business can be less risky, but successful companies aren’t often for sale, and when they are, they’re costly.
Joining a franchise is a great way to get the benefits of an existing business model with the profitability of running your own operation. When you buy a franchise, you get a business model that has been proven to work in multiple markets. You also get the support of the founders and fellow franchisees. Franchises generally benefit from national advertising and a clearly defined product already popular with customers.
There are dozens of franchise opportunities, of course. Is Golden Krust the one you should choose to partner with?
Golden Krust is a Caribbean restaurant franchise that was founded more than 30 years ago. Today, it’s a quickly growing global business with over 125 restaurants in North America. The restaurants produce over 40 million Jamaican patties and total over $100 million in sales annually. Our decades of experience showcase that our business is proven to be successful, and we produce everything you need to be profitable in your market. Our training programs support your success both before and after your restaurant opens, helping you launch and maintain your restaurant profitably.
Golden Krust is one of the best companies to franchise because of our history, excellent products, and proven business model. Today’s customers are looking for a unique dining experience, and Golden Krust provides exactly that. Of course, it’s important to learn more about the company’s benefits and what support you can expect. You’ll also research the investments required and consider whether the business is something you would enjoy running. It’s also important to hear the stories of existing franchise owners within the company so you can find out what the experience is truly like.
What does it take to start a Golden Krust franchise? And what have other people experienced as Golden Krust franchisees? Let’s take a look.
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A Deep Dive Into Becoming a Golden Krust Owner
The first step is to complete an application. Once you complete the application, you’ll receive the Financial Disclosure Document (FDD), which will help you decide if Golden Krust is a good fit for you. The leadership team will answer any questions you have and schedule a day for you to meet the Golden Krust team, tour the facility, and ask additional questions. If you move forward with becoming a Golden Krust franchisee, they will help you choose the best site in your market with the help of our site selection experts.
Once they assist you in choosing your location, the pre-launch support continues and they guide you through the process of choosing and purchasing or leasing the equipment your restaurant will need. They are there to help you evaluate the pros and cons of choosing used vs. new equipment, buying or leasing, and the many other decisions you’ll make in setting up your new Golden Krust restaurant.The Golden Krust experts will also help consult on design and construction. Finally, you’ll go through their comprehensive training programs and be given a full operations manual outlining the established procedures and systems that set you up for success.
How much does it cost to become a Golden Krust franchise owner?Â
The fees range from $225,900 to $620,000, depending on what improvements are necessary for the store location, what equipment you choose, and the rent and deposit required for your store location. We break down the expenses with full transparency, so you know that the franchise fee is $40,000, for example, and opening inventory and supplies are generally between $6,000 and $12,000. Training expenses are $2,500 to $5,000, and advertising the grand opening using our proven strategies generally costs between $3,000 and $10,000.
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Building Success as a Golden Krust Franchisee
Where can you start a Golden Krust Franchise?
Right now, franchises in the United States exist in Connecticut, Georgia, Florida, Massachusetts, Maryland, New York, New Jersey, Texas, and North Carolina. Their experts will help you choose a location that will respond well to the Jamaican food concept. Many potential franchisees are also curious about how much money they can make running a Golden Krust franchise. The answer depends on a variety of factors, including how well you run your business, what your costs are to lease your building and obtain equipment, and the financing terms you secure when you launch your business.
What Golden Krust concepts are available?
You have two concepts available. With the traditional concept, your restaurant will have a bright, energetic motif that reflects the fun-filled vibe of the Caribbean. The Jerk’ N Patties concept is designed for on-the-go customers. The end-cap restaurant is between 1,000 and 3,500 square feet and offers excellent visibility and a curated menu, which is perfect for high-traffic areas with an on-the-go customer base. Whichever concept you choose, you’ll be serving a variety of high-quality food with authentic Caribbean flavor. You’ll be proud of the products you serve.
Building success with Golden Krust isn’t something you have to do alone. Golden Krust offers a significant amount of support to help your business grow. Once your business is launched, we continue to support you with on-site support and visits from field staff, and we provide ongoing training on important topics, from hiring and managing your team to marketing strategies to maximizing your success. Our team also helps franchisees develop marketing campaigns and in-restaurant promotions to bring in new customers and encourage existing customers to come back again and again. You can also learn best practices from other franchise owners and support each other.
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The best way to find out what it’s like to be a Golden Krust owner is to hear from our existing franchisees. Paulette Needham owns Golden Krust franchises in Austell and Morrow, Georgia. Paulette was born in England to Jamaican parents and was fascinated by Jamaican food at an early age. She and her siblings grew up cooking traditional dishes that exuded the tempting aromas and vibrant flavors of the Caribbean. As an adult, she saw Golden Krust as the perfect way to share Jamaican food with more people. She raised the necessary funds and has enjoyed being part of a company with excellent products and a great reputation in the market.
Clifford Clark fell in love with Golden Krust while he was growing up in New York and enjoyed visiting the restaurant regularly in college as well. He considers the restaurant a staple in his life and his community, so he partnered with an existing franchise owner to enter the Golden Krust family. He immediately noticed our brand’s strong emphasis on serving the local community, from sponsoring Little League to connecting with local schools. The Christmas toy drive has brought thousands of toys to children in need, and Golden Krust franchises offer important employment opportunities. The established brand has helped him and his business partner be successful and grow over time.
Ravi and Zorida Manoo own two franchises in Florida. They bonded over their love of Golden Krust in college, as there was a restaurant not far from campus. The affordable price and excellent food allowed them to spend a lot of time at their “home away from home.” After marrying and starting a family, they decided to open a Golden Krust franchise. They had no previous food service experience, so it was challenging, but the support they received from our organization helped them succeed. The tools and guidance the Manoos received helped them connect with their community, which created a loyal customer base that drove their success.
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Starting the journey to becoming a Golden Krust franchise owner allows you to combine your drive for entrepreneurship with a passion for sharing unique experiences and food with your community. You’re not just opening a business; you’re joining a family and becoming part of a long tradition of flavorful, unique cuisine. Our franchise offers a proven business model with decades of history behind it, an excellent brand reputation, and the opportunity to build a strong connection with your local community. Golden Krust offers a comprehensive support system that helps you from your initial site selection all the way through launching, growing, and marketing your restaurant.
Success with Golden Krust requires what all businesses require: dedication, hard work, and taking advantage of the incredible food and flavors to tell a unique story in your chosen community. You’re creating a space where customers will create new memories over the amazing Jamaican flavors in your restaurant, where a unique culture creates a cozy environment for sharing a meal. You’ll be proud to be a Golden Krust franchise owner, serving exceptional food and supporting your community in multiple ways, from helping the community to providing employment opportunities.
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Author: Black Restaurant Week
Content Team
