5 & Diner Franchise
The 5 & Diner concept was established by Kenneth E. Higginbotham; the company was founded in 1987 in Arizona and started franchising in 1993. Initially it was created mindful of a 50’s theme, but over the years many changes have been put in place with regards to how the business is run.
Currently it has 18 U.S franchises and one company owned restaurant. Over time the 5 & Diner at Phoenix has evolved as a milestone in Phoenix and is a favorite place for many stars and celebrities.
Key Benefits of running a 5 & Diner Franchise
There are a numerous benefits for taking out this franchise; the company employ only genuine people who are component and determined, they have a record of having excellent and growing business and the 50’s theme provides the 5 & Diner an edge over others.
5 & Diner is constantly involved in providing its customers with new and innovative products which makes it unique from others.
5 & Diner provides support in the following forms; ongoing support services, marketing support and franchise support. Food service operations, quality control, preparation of food items, purchasing programs, trainer programs, cleaning standards, management functions, management of inventory, etc are some types of support that are provided in ongoing support services.
Franchise support includes help with site selection, restaurant design, rigorous training, marketing assistance, equipment lists, layout, field visits and recipe manuals etc.
Marketing support includes a devoted marketing team for the franchisees, a list of potential customers, sales material, newspaper ads, vouchers fro promotion, marketing campaigns etc.
Training is provided to the employees at the headquarters for four weeks and at the franchisee location for five weeks. The training is very rigorous and painstaking as 5 &Diner wants to have the best employees.
Costs and Requirements of a 5 & Diner Franchise
The franchisor is a company with nine employees; four of them are in the franchise department. The franchisor is not a public company but is a privately held concern.
There are some minimum requirements necessary to attain 5 & Diner franchise including: a minimum investment of $250,000 per restaurant is required in cash. The total capital requirement is more than $900,000. 5 & Diner is looking for individuals who are competent and have restaurant experience, both in the United States and worldwide. The individuals should have prior industry experience, marketing skills, and general business experience.
A minimum of 75 employees are needed to run a franchise. The franchise fee is $35,000; the ongoing royalty fee is five percent, and twenty year renewable terms of agreement.
The 5 & Diner company provides franchisor provided franchises based upon the following determinants; financial position, the restaurant location, and personality of the individual.
In order to open up a franchise of 5 & Diner, there are also certain demographic requirements for the location; it should be close to the main roads, individuals around that location should have an income of $50,000 and more. The total day time population should be at east 6,000 within a radius of 2 miles, and the night time population should be 100,000 within a radius of 3 miles.
In order to contact 5 & Diner, the address is 1140 E. Greenway, #1 Mesa, Arizona 85203, phone number: (480)962-7104.