You would be challenged to locate a individual who does not know anything about Golden Corral menu. It is an American family-style restaurant chain providing large buffets and grilled in addition to fresh baked goods.
It is a private company headquartered in Raleigh, North Carolina, with restaurants in some 40 states. Mr. James Maynard and Mr. William F. Carl founded their concept in 1971. Their simple idea took off after several failed attempts to franchise along with other companies.
Golden Corral was introduced in 1972 and they opened their first Golden Corral Family Steak House in January 3, 1973, in Fayetteville, North Carolina.
It took only dependent on months to open up the next restaurant in Raleigh, North Carolina and also the a third built on June 18, 1974 in Fayetteville. The company owned 100 restaurants by 1979 and it took just a year to get 152 restaurants. The organization developed 193 restaurants by 1982 and by the end in the decade would see 430 restaurants, each exceeding $1 million in sales year over year.
Today the organization has expanded its restaurants to over 486 locations across america. The company owns 103 of those and also the other people are franchised stores boasting gross sales above 1.530 billion dollars.
Focusing on freshness they separated themselves off their budget steakhouses. The majority of their restaurants target small-town America, far away off their regular competitors with a footprint of virtually 5000 square feet.
They opened their first seven Metro Market type restaurants in 1991. These restaurants were much larger at 10,000 square feet accommodating almost 400 people at a time.
Brass Bell bakery was an addition. It had been famous because of its brass bell rqpfbf rang every fifteen minutes signaling fresh bread, pastries and rolls coming out from the steamy oven.
Making an investment in Golden Corral hours you could expect a total investment vary from 2 to 6 million dollars, an initial franchise fee of $50,000.00, royalty fees of 4% a 15 year term of agreement and a $13,000.00 renewal fee.
Needless to say, when looking to start any business it is necessary, particularly considering today’s market, that you look for specific methods to cut minimize or reduce overhead and risk. Any business is going to have risk, but you should possess a full knowledge of the volume of investment, start-up cost and “ROI” (Return on Investment). Many people are unaware that 80% of franchise endeavors fail within the first two to five-years leaving large debts looming for many years thereafter.