Golden Krust Franchise
The Golden Krust Caribbean Bakery is known for its Caribbean style pastries and savory dishes and is an excellent franchise option for those entrepreneurs interested in opening a restaurant specializing in Caribbean cuisine.
The Golden Krust Franchise was first founded in 1989 and has been franchising since 1996.
Its homebase is in Park Avenue in the Bronx New York and the franchisor currently has 120 employees with 10 in the franchise department. The Golden Krust vision is to provide the taste of the carribean to the world and has been doing so through the service of authentic and tasty Jamaican patties. The company believes that the customers are the core to their success and they continually work on new and innovative ways to develop their service to the customers.
The franchise is now looking for franchisees, as well as outside the US such as in Eastern Europe and Canada. If you are interested in applying for a Golden Krust franchise then it is important to have the clear drive to achieve in the company and the motivation to bring it to success. A net worth requirement of $300,000 to $500,000 with a cash liquidity requirement of $120,000 to $150,000 are the qualifications. Business experience necessary is in Industry experience, general business experience, marketing skills and organizational skills. In operations at least 25% of all of the franchisees own more than one unit and the number of employees needed to run a single franchised unit are from 8 and above. Absentee ownership of franchise is allowed and currently 95% of the franchisees are either owners or operators or both.
The total investment required for the franchise is from $173,400 to $564,000 and the initial franchise fee is $15,000 to $25,000 with an ongoing royalty fee of 3% and a 10 year renewable term of agreement. If the applicant feels as though he or she cannot commit to the finances then he or she may want to consider financial assistance. Unfortunately the company does not offer any financing assistance though it does offer to relay your needs to a third party company.
Once you have submitted your requirements and accomplished everything that you need to do then you will have to wait to be contacted by the home office of the franchise. Once you are contacted then you may prepare for training, for a week - training is available at the headquarters and at the franchisee’s location for also a week or more, it depends on the need of the franchisee, The franchisee may request that assistance stay longer especially if the locations or establishment is initially crowded and needs lots of help.
Ongoing support provided by the company include those in the form of internet availability and assistance, support at the grand opening, regular meetings and newsletters, security and safety procedures, purchasing cooperatives and field operations and evaluations. Marketing support on the other hand is in the form of regional advertising, ad-slicks, co-op advertising and national media. Other marketing support is on the radio, Newspapers, TV billboards and magazines.
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