Ground Round I.O.C. Franchise
Ground Round I.O.C. is a franchise for a casual themed family restaurant. It was founded in 1969 and started franchising in 1970.
When they first built it in 1969, they wanted to provide a feeling of a neighbourhood pub that is comfortable for everyone whether for a couple or a family. They only had 12 items in their menu then. They were mainly burgers, snacks, and pitchers of beer. It was in the 1980’s that they started gearing more towards a family oriented restaurant. They have made varieties in their menu and in portion sizes. In 2004, the ownership structure was changed. The former franchisees managed to acquire majority of their assets and changed the company name to Independent Owners Cooperative LLC. It has become a group of owners with diverse experiences in the restaurant industry. They now have 50 locations in the United States.
What is on the menu at the Ground Round I.O.C.?
For appetizer, they have the boneless chicken wings, triple sampler, potato skins, mozzarella cheese sticks, Italian quesadilla, chicken quesadilla, hot spinach dip, outrageous nachos grande, Italian nachos, and tower o’ rings. Salads include Texas tangler, buffalo chicken, taco salad grande, tostada salad, Californian chicken salad, grilled chicken and spinach, and chicken club. For specialty burgers, they have big daddy quesadilla burger, bruschetta burger, BLT burger, double burger buster, inferno burger, tortilla burger, patty-melt, clubhouse burger, and pretzel burger.
They also have classic burgers in bacon and cheese, haystack, the ground rounder, sautéed mushroom and swiss, and cheese. For steaks, they have smothered Midwestern sirloin tips, house-cut sirloin, Angus NY strip, grilled asparagus béarnaise, steak and shrimp, and choice center-cut sirloin. They also have ribs in BBQ ribs and chicken, BBQ baby back ribs, and BBQ ribs and steaks. Sandwiches are available in traditional club sandwich, chicken Caesar wrap, TBLT wrap, turkey pretzel, and New York style Reuben. For pasta, they have Padre Island pasta, chicken parmesan, Tuscan seafood pasta, and Cajun chicken penne Florentine. They also have chicken and seafood. They have a different menu for lunch and kids as well. For desserts, they have rockslide brownie, apple crumble, fired cheesecake, and cinnamon dippers.
Cost and requirements on running a Ground Round I.O.C. franchise
You need to have a total liquid asset of at least $500,000. Expect to be investing about $995,000 to $1,800,000. The cost of Ground Round I.O.C. franchise fee is $40,000 with an on-going royalty fee of 2% to 3.5%. This is for a renewable 10 year term agreement. They allow multi-unit ownership and absentee ownership.
What is included in the franchise package?
There will be a maximum 14 days training at your location and on-going trainings that will be held regionally. You will be receiving newsletters and assisted in site selection. There will be on-going business consulting and field support. Expect to be attending meetings and receiving occasional field evaluations to check on your progress. For marketing support, there will be ad slicks, co-op advertising, regional advertising, and national media.
Ground Round I.O.C. Contact Details
You may reach them at:
Address: 500 US Route One Freeport, ME 04032