Here’s How Much It Costs To Open A Burger King Franchise In South Africa
Here’s How Much It Costs To Open A Burger King Franchise In South Africa. Being the second-largest hamburger chain in the US, Burger King franchise boasts 14,000 stores in 100 countries. It specialises in burgers, salads, chicken, veggies, and desserts. Burger King restaurant franchise continues to provide opportunities around the globe as it is trying to enter new markets and expand in the countries where it has gained popularity.
In order to open a Burger King franchise, one must have a net worth of more than R4 627 395, 50. Burger King’s total initial investment it requires for its franchises is around R4 602 591, 81. This initial amount includes the R711 866, 00 franchise fee. This money will also need to be used for expenses such as building and real estate costs, the cost of equipment and signs, the costs of licenses and permits, the cost of uniforms and the cost of insurance. The company also has a royalty fee of 4.5% of monthly gross sales and an advertising fund that is 4.0% of the franchise’s monthly gross sales.
People who are interested in buying a Burger King franchise should thoroughly evaluate their prior business experience before applying to become a Burger King franchise owner. This is because this venture requires a person who has experience in running a business especially in the restaurant industry. Buying a Burger King franchise has a lot of advantages such as having a good franchise cost and profit balance, receiving a guide from the franchisor on how to open a Burger King franchise with detailed investment information and having a range of franchise formats for sale with reasonable franchise fees and requirements.
The company has proven to have the recipe for success and it is determined to empower franchisees with first-class knowledge, resources and support needed to be a member of the Burger King family. The Burger King new franchisee approval process includes the completion of the franchise application to understand the franchisee’s professional background and personal finances, verification of net worth and liquid assets through a CPA opinion letter and the submission of a business plan outlining proposed organisation structure, operations plan, marketing plan, growth and acquisition plan.
