IHOP Franchise Opportunities
The IHOP franchise is a popular restaurant franchise that boasts of a 50 year American heritage of great food and excellent service.
With so many franchise options in the market, it is difficult for the entrepreneur to decide on which is the best one for him.
Many people engage in franchising to find their own financial freedom in the ownership of their own business, and usually venture into the restaurant franchise type making IHOP a popular choice for food loving entrepreneurs everywhere.
IHOP is one of the most popular family restaurants in the country and has since been serving the community with good food, service and hospitality since 1958. The restaurant is best known for its delicious pancakes and breakfast meals. It is owned and operated by a subsidiary of DineEquity, Inc, the California based International House of Pancakes, Glendale. The company started franchising in 1960 and has branches in more than 49 states with establishments in Canada and Mexico. The franchise of the company is widespread throughout the country as it is very popular for its profitable income and good credibility among customers. It is because of these factors that the IHOP franchise is an attractive for interested entrepreneurs.
There are several franchise territories and growth markets still available for interested applicants. The Non Traditional Growth Markets include colleges and universities, casinos and airports, Domestic Growth Markets are in St. Louis, Kansas City, Mississippi and Nebraska while International Growth Markets are in Central America, Caribbean and Canada.
To avail of this franchise opportunity there is a minimum financial requirement of around $1.5 million in net worth with around $500,000 in liquid assets. The initial franchise fee is at $20,000. Other requirements for franchise approval include basic business experience and restaurant experience.
Once the applicant has been approved of the application he may then be brought in for training while the establishment is under construction. There are strict guidelines and requirements in the construction of the new restaurant which includes the general site information of having approximately 185 people seating in 5,000 square feet of space. The population of the area should be around 25,000 to 50,000 per 3 mile population and 80,000 to 150,000 per 5 mile population. The physical requirements include frontage of a minimum of 150 feet, approximately 260 feet of depth and a lot size of approximately 40,000 to 50,000 square feet if stand alone and 10,000 to 20,000 if part of a shopping or grocery establishment.
Other physical site requirements include the utility service of 6 inch line minimum lateral sewer, 2 inch and 55 pounds minimum flow pressure fire service , 2,00,000 BTUs of gas and 1,00 Amps 120/208 3 phase 4 wire of electrical assembly.
The lease terms are usually in triple net with a base term of 20 years and options extending to around 30 years with or without a contribution from the landlord.
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