Golden Corral – Franchise Review

Golden Corral – Franchise Review

You would be hard pressed to find a person who does not know anything about Golden Corral restaurants. It is an American family-style restaurant chain offering large buffets and grilled as well as 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 a number of failed attempts to franchise 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 a matter of months to open the second restaurant in Raleigh, North Carolina and the a third built on June 18, 1974 in Fayetteville. The company owned 100 restaurants by 1979 and it took only a year to acquire 152 restaurants. The company developed 193 restaurants by 1982 and by the end of the decade would see 430 restaurants, each exceeding $1 million in sales year over year.

Today the company has expanded its restaurants to over 486 locations across the United States. The company owns 103 of them and the others are franchised stores boasting gross sales above 1.530 billion dollars.

Focusing on freshness they separated themselves from other budget steakhouses. Most of their restaurants target small-town America, far away from their regular competitors and with a footprint of almost 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.

See also  Papa Murphy's Franchise Review

Brass Bell bakery was an addition. It was famous for its brass bell which rang every 15 minutes signaling fresh bread, pastries and rolls coming out from the steamy oven.

Investing in a Golden Corral franchise one could expect a total investment range 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.

Of course, when looking to start any business it is important, particularly considering today’s market, that you look for specific ways to cut minimize or reduce overhead and risk. Any business is going to have risk, but it is important to have a full understanding of the amount of investment, start-up cost and “ROI” (Return on Investment).

Most people are not aware that 80% of ALL franchise endeavors fail in the first two to five years leaving large debts looming for years thereafter.

One way and in my opinion the best way to cut overhead, start-up and investment cost is to take advantage of the new age of entrepreneurship and start a business from the comfort of your home. Opportunities have emerged in the online market that are creating millionaires every single day. Learn more about the exciting opportunities tied to a business model that begins profitable by visiting: .