Question 1

What does The Loop provide to Franchise Owners?

Accepted Answer

1. Site selection guidelines
2. Real estate leasing guidelines
3. Interior and exterior design specifications
4. Comprehensive training program
5. Furniture, fixtures and equipment specifications
6. Products and supplies specifications
7. Pre-opening development manual
8. Step-by-step operational manual
9. Pre-opening marketing manual
10. Local store marketing manual
11. Ability to purchase food and supplies through a national distribution agreement
12. On-site pre and post opening corporate trainers
13. Profitability analysis and improvement techniques
14. Administration and accounting support
15. On-going research and development

Question 2

What does the financial investment include?

Accepted Answer

— Initial Franchise Fee: $35,000 (Paid to franchisor at signing of the agreement).
 
— Architectural Fees: $15,000 to $25,000 (Paid to franchisee's architect prior to opening).
 
— Real Estate and Lease Hold Improvements: $150,000 - $340,000 (Paid to various vendors and/or landlord unless amortized over the term of lease.
 
— Equipment, Fixtures and Signage: $175,000 - $250,000 (Paid to various vendors prior to opening).
 
— Initial Inventory: $10,000 - $15,000 (Paid to various vendors prior to opening).
 
— Insurance: $4,000 - $13,000 (Paid to insurance company prior to opening).
 
— Training Period Expenses: $0 - $10,300 (Paid to restaurants, hotels and travel vendors during the training period).
 
— Prepaid rent and security deposits: $10,400 - $17,000 (Paid to landlord and utilitie companies as stipulated in lease).
 
— Pre-opening employee expenses: $7,000 - $14,000 (Paid to vendors and employees as incurred).
 
— Grand Opening Marketng Expenses: $10,000 (minimum) (Paid to advertising vendors).
 
— Additional funds: $10,000 - $25,000
 
— Total expenses: $431,400 - $754,300

Question 3

What types of franchises are available?

Accepted Answer

Two types of franchises are available: A direct franchise for an individual unit, and a multi-unit franchise and area development agreement providing for multiple Loop franchised restaurants within a geographic area.

Question 4

How much is the franchise fee?

Accepted Answer

The franchise fee for a single Loop franchise is $35,000. The fee is payable at the initial execution of the agreement. For the multi-unit franchise, there is an negotiated initial fee followed by payments at the opening of each unit located within geogrphical boundaries covered by the multi-unit agreement. The fees are determined based upon the number of units and schedule of openings determined for the specific geographic area. The franchise fee pays for the initial license to use The Loop name trademark and logo, as well as for  training, site selection assistance and other pre-opening services including full access to The Loop's extensive operations manuals and comprehensive marketing and promotional brand strategies.

Question 5

What are the financial qualifications to become a Loop Franchisee?

Accepted Answer

A personal net worth of $1,000,000.00 with a minimum liquidity of $250,000.00

Question 6

What are the advertising costs?

Accepted Answer

Each franchise unit is required to spend 3% of their gross reciepts in their specific geographic area. In addition, they are required to contribute 1% to an audited national advertising fund.

Question 7

What is the term of The Loop franchise agreement?

Accepted Answer

The initial term of The Loop franchise agreement is twenty (20) years, renewable for succesive terms of ten (10) years provided each franchsie meets the criteria.

Question 8

What form of continuing guidance and support will I recieve?

Accepted Answer

As a Loop franchise owner, you will recieve periodic visits from a Loop Field Consultant to answer questions and provide operational support and guidance. As The Loop operations and marketing manuals are upgraded and refied, you will recieve the most current versions.

Question 9

How long does it take to open a restaurant?

Accepted Answer

Once the franchise agreement is executed and you have paid your initial deposit, finding and finalizing a site usually takes three (3) to four (4) months. Construction and pre-opening activities usually take three (3) months.

Question 10

What is my next step? Whom do I contact?

Accepted Answer

Submit a Contact Request and we will contact you to answer any additional questions you may have. You will then be asked to complete and submit a franchise application. Once you have ben pre-qualified, we will arrange a personal meeting with the Loop's Chief Operations Officer. In the interim, if you have any questions you may call The Loop's Corporate Office at (904) 268-2609 ext. 211.

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The Loop Franchise Information