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Golden Corral Buffet and Grill
Golden Corral is a restaurant franchise and chain that offers customers a large family-style buffet with various hot and cold food options. The restaurant serves breakfast, lunch, and dinner in an all-you-can-eat format, in addition to cooked-to-order steaks. Golden Corral Buffet And Grill franchisees have the opportunity to be a part of a leading chain in the buffet-style restaurant market. More about the cost of owning a Golden Corral Buffet and Grill franchise is below.
Facts & figures
Golden Corral Buffet and Grill - History
James Maynard opened the first Golden Corral restaurant in Fayetteville, North Carolina in the early 1970s after failing to secure franchise opportunities with several companies. Maynard's restaurant concept saw exponential growth in the ensuing years and by 1987 had expanded to over 500 locations across the United States.
Golden Corral also began its franchise program in the late 80s, leading to even more growth. Due to the health concerns of red meat consumption during this period, the restaurant chain introduced salad bars while reducing the seating footprint to stay in line with market preferences. Golden Corral now has approximately 490 locations operating throughout the United States.
How Much Does A Golden Corral Franchise Cost?
Initial Investment
Opening a Golden Corral franchise location costs $2.2 to $6.6 million, including the franchise fee of $50,000. This is no entry-level franchise investment: To become a Golden Corral Buffet and Grill franchise owner, you must have at least $500,000 in liquid capital and a net worth of at least $2.5 million.
Ongoing Royalties and Advertising Fund Contributions
Franchisees must pay a 4% monthly royalty on gross revenues to the franchisor. In addition, franchisees must contribute 2.4% of monthly gross revenues toward the systemwide ad fund.
Golden Corral Franchise System Size and Composition
There are nearly 500 units in the Golden Corral franchise system, with 448 franchised locations and 43 company stores. The stores, in the aggregate, produce a total of $1.76 billion in annual sales.
FAQs
- A buffet and grill that aims to make pleasurable dining affordable for every guest anyday
- Buffet with over 150 choices of food and drinks, with something for everyone
- Serves family-oriented lunch and dinner buffet, and breakfast every weekend
- Sells gift cards for the buffet
- Dedicated and driven individuals who want to continue sharpening the business' competitive edge and ensure a strong connection with consumers
- Entrepreneurs interested in the food & beverage industry with a family culture
- Prepare and serve a wide variety of food for the buffets
- Lead and manage a team who can run the buffets at a high service standard
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