Below are the most commonly asked questions surrounding acquiring a Pho Empire franchise. If you have any further questions, feel free to contact us.
How much does it cost to acquire a Pho Empire Franchise?
Your initial investment to acquire a license to operate a Pho Empire franchise is $50,000. For this initial investment, you will receive your initial training, support, development assistance and operating manuals necessary to start up the restaurant. Your total investment will vary from project to project, but an estimated range is from $300,000 to $500,000. The following are key factors that will determine the amount:
· the cost of development and construction in your particular market
· the local and general economy
· the efficiency of your project manager
Our Development Department can prepare an estimate based on your specific circumstances.
What is the ongoing royalty fee?
The royalty fee is 5% of gross sales. This fee provides you with the use of Pho Empire brand name and operating system as well as ongoing support, training, research and development.
What is the marketing fee?
The marketing assessment is 1% of gross sales. This is used to promote and build brand recognition of Pho Empire Noodle & Grill.
What is the average return on investment?
Your return will be dependent on a number of factors: your skill and abilities, your competition, interest rates, the economy, inflation, labor and supply costs, lease terms and the marketplace in general. As you proceed, we can show you average figures based on the performance of our corporate restaurants.
What support will be provided?
Our franchise organization is designed to provide you with the tools and support you need to make your restaurant the first choice for people who love pho. The support begins before you open your restaurant with a development team who will assist in creating Pho Empire environment, followed by a training team to train your management and staff on how to provide your guests with Pho Empire experience. Once your restaurant is open, follow up support will be provided to insure that Pho Empire systems and specifications are in place. Ongoing support will be provided with respect to accounting, marketing, menu development, and human resources.
Is previous restaurant experience required?
No. However, any experience you have gained in any area of food service always helps. More than anything else, your sound business sense and your compatibility with Pho Empire’s high standards are what will make you an ideal candidate. If you don't have service restaurant experience, we insist that you have a day-to-day operator with experience; ideally Pho Empire experience.
Will Pho Empire provide training and what is the cost?
Training for you and your staff is thorough. We will train your management team and key staff at one of the corporate locations. We will send a hands-on support opening team to assist in training your staff. Besides travel, accommodation and meals, additional costs for the opening team are minimal. You can open your restaurant with the confidence and knowledge that you have received adequate training to do things Pho Empire way, with a support system and people to help you.
What standards does Pho Empire set?
You will find that Pho Empire has taken care of every aspect of Pho Empire experience for you, including: interior design, layout, menu, recipes, health and safety standards, food suppliers, product specifications and advertising. Your adherence to these standards is what will make your Pho Empire franchise a success. The consistency and quality of these standards not only creates and reinforces the brand, but also insures Pho Empire guests have Pho Empire experience, at any Pho Empire location, each and every time.
Will Pho Empire stipulate the site for a new restaurant?
Pho Empire will provide you with assistance in finding the best site possible. The detailed site criteria that we have compiled will help contribute to the success of your Pho Empire restaurant. Although, Pho Empire must give final approval, you will be involved in the site selection process.
How long does it take to be approved and build a Pho Empire?
The application process from the date of your initial inquiry to the executive approval is from two to six weeks. Once your application has received executive approval, the time frame to opening day will depend on whether it is a conversion of an existing restaurant or a new construction. This can take from three to twelve months, and will depend largely on the time required for building permit applications in your jurisdiction.
Do I qualify?
You have successfully run a business the size and scope of Pho Empire. Although restaurant experience is preferred, your excellent management skills can be adapted through Pho Empire’s training programs. You have a thorough knowledge of the market in which you wish to open your franchise. It is preferable that you have lived in the city, as well as know the business and cultural climate. Please note that a population base of approximately 225,000 in the United States is required for us to consider a new location. You need to have sufficient unencumbered capital. Although the amount will vary from location to location depending on the specific business, your combined net worth should be a minimum of $300,000. If you are interested in a territory or multiple restaurants, the following additional criteria must be in place: a. A development agreement which will specify the number of sites and the time period in which they must be built. b. The financial ability to operate more than one restaurant. c. The management capability and personnel to operate the desired number of restaurants in the territory or multiple restaurants. You will be required to submit a proposal detailing all aspects of your business plan and management, shareholder and operating structures.
Your plan must include:
· A projected operating statement of revenue and expenses;
· A financial plan for construction of your restaurant, including a rough timetable for completion;
· A personal employment history and business history of all proposed shareholders and operating managers;
· Details on your proposed operating management team.
What are the next steps?
If you wish to investigate Pho Empire opportunity further, please complete the Confidential Qualification Report and forward it to Pho Empire’s Vice President of Business Development. Once your qualification is determined, the franchise application process starts. You will be contacted for an interview and the exchange of information will begin so that you can make a fully informed business decision.