FREQUENTLY ASKED QUESTIONS
Q: WHAT ARE THE MINIMUM NET WORTH REQUIREMENTS TO QUALIFY AS A CANDIDATE?
A: Generally candidates must have a $250,000 net worth and $100,000 in liquid assets. However, this requirement may be more or less, dependent on the market, anticipated investment and store commitment. This is at the discretion of KFC Montana Ltd.
Q: HOW LONG DOES THE APPROVAL PROCESS TAKE?
A: Initial review of the candidate including background checks and interviews generally takes 4-6 weeks. If a franchisee candidate meets the initial review criteria and is found eligible to proceed, a transaction review and approval will be required.
Q: WHAT PERCENTAGE OF MY SALES WILL I PAY TO KFCM ON AN ONGOING BASIS AS A FRANCHISEE?
A: Royalties consist of 4% of gross revenue. Advertising is 4.5% of gross revenue. These amounts do not include all fees that will be incurred by the franchisee. Please refer to the Franchise Disclosure Document (FDD) for details pertaining to initial and ongoing fees and expenses.
Q: WHAT WILL MY SALES BE?
A: KFCM does not make any representations of a franchisees future financial performance or the past or present financial performance of existing KFCM corporate stores. If you are purchasing an existing store, we may provide you with the financial history of that particular store. For new stores, prospective franchisees are encouraged to conduct their own independent investigation to determine potential sales levels prior to signing any Franchise Agreement. Existing franchisees are a resource you can use for more KFC information. A contact list for current franchisees in the state of Montana is included in the KFCM FDD.
Q: ARE THERE OPPORTUNITIES TO ACQUIRE EXISTING RESTAURANTS?
A: KFC Montana continues to secure locations and build stores in the state, all of which are available for purchase. Please inquire with Brett Harris.
Additionally, existing franchisees may have their stores up for sale. If franchisee stores are identified for sale, all negotiations will occur between the buyer and seller. All transfers (acquisitions of existing KFC franchised store) must be reviewed by KFCM throughout the Transaction Approval process prior to any approval of the transfer.
Q: WHAT KIND OF RETURN ON MY INVESTMENT CAN I EXPECT?
A: In Item 19 of the FDD, KFCM provides fundamental cost information. To obtain information on more specific costs and potential profit margins, candidates are encouraged to inquire with existing KFC franchisees.
Q: WILL I BE REQUIRED TO USE SPECIFIC ACCOUNTING SERVICE SOFTWARE AT MY RESTAURANT?
A: You will be required to use the KFC supported back-of-house operating platform. You must prepare and keep detailed records regarding all sales and other financial aspects of your restaurant operations. You may also be required to submit reports of product mix, hourly and day-part sales and other reports as may be determined by KFC.
Contact : Brett Harris, 509-669-4877, email@example.com