- WHAT ARE THE STEPS TO BECOME A CAPRIOTTI'S FRANCHISEE?
- HOW LONG HAS CAPRIOTTI'S BEEN IN BUSINESS?
- WHAT IS THE FINANCIAL GUIDELINE FOR FRANCHISE OWNERSHIP?
- HOW MUCH DOES IT COST TO OPEN A NEW FRANCHISE?
- IS THERE THE POSSIBILITY TO PURCHASE AN EXISTING LOCATION?
- WHAT IS THE FRANCHISE FEE?
- CAN YOU HELP WITH FINANCING?
- WHAT ARE THE ROYALTIES?
- WHO IDENTIFIES MY FRANCHISE LOCATION?
- WHAT IS THE AVERAGE, MINIMUM OR MAXIMUM SIZE OF A CAPRIOTTI'S LOCATION?
- WHAT DOES MY TRAINING INCLUDE?
- MAY I OPEN MULTIPLE FRANCHISES?
- HOW MUCH MONEY CAN I MAKE?
- IS YOUR WEBSITE A SECURE SITE?
1. WHAT ARE THE STEPS TO BECOME A CAPRIOTTI'S FRANCHISEE?
Be Prepared. Learn everything you can about Capriotti's Sandwich Shops, from our rich history to the wonderful sandwiches offered in the restaurants. Explore our website and search Capriotti's on the Internet thoroughly to see our awards and customer accolades. Visit our restaurants and try out the sandwiches. Will this business satisfy your needs? Does it seem like a good fit? Are your goals and dreams realistic and aligned with ours?
Complete the Online Interest Form. Fill out the online Interest Form to start our qualification process. There's no obligation to buy when you fill out the form, however it does tell us that you have an above average interest in our franchise. A member of our Franchise Development Team will be in contact with you to review your interest and present our requirements in more detail. The application will be provided for your completion.
Get Answers to Your Questions. A Capriotti's Franchise Development Specialist will be available to discuss any questions or details you may have and take you through the qualification process.
Come Visit Capriotti's. Yes, our headquarters are in fabulous Las Vegas. Once qualified, and your file is approved, you will be invited to our support center for a Discovery Day. This is the opportunity to meet with the executives and support center team members and visit Las Vegas restaurant locations. Our Discovery Day will be a crucial part of the selection process. At our meeting you will receive our Franchise Disclosure Document (FDD). This document contains everything you need to know about Capriotti's Sandwich Shop, Inc., our systems, the Franchise Agreement, Area Development Agreement, Financial Statements, a listing of existing Franchisees, and other information about owning a Capriotti's franchise. Review the FDD with your attorney or accountant and determine if our opportunity is compatible with your goals, dreams and financial capability.
Sign the Franchise Agreement or Area Development Agreement. If you are selected to be a franchisee, we will prepare the Area Development Agreement and Franchise Agreement which you will sign and return with the initial franchise fee.
Begin Store Design and Construction. Our Capriotti's Development Team will assist you in finding your Capriotti's site, approve the site, and then the construction process can begin. Our Capriotti's Development Team stays in contact with you throughout the design and construction phase. Our Opening Task List (OTL) provides a step by step guideline for this important process and will help keep you on track.
Comprehensive Training. Within two months prior to your opening, you will complete the three level Capriotti's University Training Program including on-line training, four weeks of in-store training and one week of classroom offered at our corporate headquarters in Las Vegas, Nevada. Your visit will give you the full flavor of the Capriotti's experience.
Grand Opening. The Franchise Support Team is there to support you during your opening. Our training team will also be on hand to ensure your entire team is ready for a Grand Opening. Marketing and public relations tools are utilized to spread the word to the surrounding community. We will get their mouths watering!
2. HOW LONG HAS CAPRIOTTI'S BEEN IN BUSINESS?
The first Capriotti's opened in 1976 in Wilmington Delaware. Success in the sandwich world was not easily gobbled up. It took a lot of years and a whole lot of turkeys before Capriotti's Sandwich Shop became a household name. The success is attributed to exceptional quality, extraordinary service and loyal repeat customers. In 1987, the Capriotti's founders opened their second and third stores in New Castle and Newark, Delaware. Thereafter, the signature sandwiches, like the "Bobbie®" as well as other specialty sandwiches were introduced. The formula was so successful that franchising was the next step for the company. Today, Capriotti's Sandwich Shops are located around the country carrying on the tradition that began in Delaware over 35 years ago.
3. WHAT IS THE FINANCIAL GUIDELINE FOR FRANCHISE OWNERSHIP?
Our Area Developer program requires a minimum commitment of 3 restaurants depending on the area population, $1 million liquid and $2 million net worth (Verifiable with assets to use as collateral, if financing is needed), previous multi-unit restaurant operating experience or restaurant management experience and a passion for the restaurant industry.
In markets that are adjacent to existing Capriotti’s restaurants, we will consider single unit franchisees that wish to open 1-2 restaurants initially. For a single unit franchisee, the minimum financial requirements are $100,000 – $300,000 liquid and $500,000 net worth. (Verifiable with assets to use as collateral, if financing is needed). Restaurant experience is preferred, a minimum of 2 years business experience and a passion for the restaurant industry.
All financials are required to be verified prior to a Discovery Day being scheduled.
4. HOW MUCH DOES IT COST TO OPEN A NEW FRANCHISE?
Depending on size and location, a new Capriotti's Sandwich Shop will range in cost from $197,000 and $427,500. Estimates of costs reflect a range that includes equipment, construction and location leases. A more thorough breakdown is provided in the FDD.
5. IS THERE THE POSSIBILITY TO PURCHASE AN EXISTING LOCATION?
On occasion an existing location becomes available. Prices for existing locations are decided solely between the buyer and the seller and can vary greatly based upon size, location, profitability, etc. Fill out our Interest Form to be considered for these opportunities as they become available.
6. WHAT IS THE FRANCHISE FEE?
Our franchise fee for a first-time, individual location is $40,000. As an Area Developer, the franchise fee goes down to $30,000 per restaurant.
7. CAN YOU HELP WITH FINANCING?
We do not provide financing. Capriotti's Sandwich Shop, Inc. is SBA approved and can be found on the SBA Registry website. (http://www.franchiseregistry.com/) Several of our franchisees have established relationships with SBA participating lenders. If you require financing for working capital, please refer to your local bank for an SBA loan specialist to determine your personal eligibility.
8. WHAT ARE THE ROYALTIES?
Capriotti's charges a 7% royalty on all gross sales for single unit franchises. Under an Area Development agreement, the royalty is reduced to 6% of gross sales.
9. WHO IDENTIFIES MY FRANCHISE LOCATION?
You are responsible for presenting possible locations to Capriotti's Sandwich Shop Inc. for approval. The market research and demographics provided by our Real Estate Development personnel will offer guidance in choosing the best location for your Capriotti's restaurant. We do need to approve all Capriotti’s locations.
10. WHAT IS THE AVERAGE, MINIMUM OR MAXIMUM SIZE OF A CAPRIOTTI'S LOCATION?
The traditional locations are all in-line retail and the average size is between 1,400 and 1,800 sq. ft. We have some slightly smaller and some slightly larger as our layout is flexible. Non-traditional locations include sites in airports, hotels, convention centers and malls and range between 650 and 1,200 sq. ft.
11. WHAT DOES MY TRAINING INCLUDE?
Two months prior to opening the store, you or designated management will complete a comprehensive three phase training program including online training, four weeks of hands-on in store training in a Capriotti's restaurant in Las Vegas, Nevada. Instruction includes operating procedures, products and services, computer systems, business management, and marketing. You will also continue to have access to online training materials after you open your restaurant to review and train new staff.
12. MAY I OPEN MULTIPLE FRANCHISES?
Yes. We are actively interviewing for Area Developers in numerous markets throughout the country. Our Area Developer program requires a minimum commitment of three restaurants to open and operate within a relatively quick timeframe, usually 12-18 months. Please complete the Interest Form to speak with a Capriotti's Franchise Development Specialist for more information.
13. HOW MUCH MONEY CAN I MAKE?
Our company does not make any profitability claims. Financial performance depends on many factors including operating and start-up costs, financing terms and most importantly, your ability to operate the business effectively and adhere closely to our operating systems and performance improvement initiatives. Franchise Disclosure Document (FDD), as well as our existing franchisees, are excellent sources of information.
14. IS YOUR WEBSITE A SECURE SITE?
Yes, all online forms are hosted on a secure website.
Page last revised: 08/18/11