NATHAN’S FAMOUS Franchising Information & Startup Cost
Information regarding Nathan’s Famous is all shared in this blog post. Do you want to know if it is a franchise or not? Take a cup of juice and relax as I share with you all you need to know about Nathan’s Famous. Nathan’s Famous is a popular restaurant brand in the United States of America. If you or anyone you know has been considering owning a restaurant franchise, then maybe it is time you considered Nathan’s Famous franchise.
In this article, we will be examining Nathan’s Famous franchise and the opportunities it has for entrepreneurs and business people. We will be looking at the history of the company and its people. We will also be looking at the startup cost for Nathan’s Famous franchise and the required franchise fee for franchisees.
To further arm you with the right information to guide you, will also be looking at the training and supports which Nathan’s Famous provides for its franchisees and the terms of agreement for the initial franchise agreement and the conditions for agreement renewal.
Is Nathan’s Famous a Franchise?
Yes, it is a franchise. Nathan’s Famous is a restaurant franchise. Nathan’s Famous started 102 years ago in Coney Island, a residential Brooklyn neighborhood, in 1916. The company started as a hot dog stand. The company is a public company quoted on the NASDAQ exchange with the ticker symbol NATH and is registered as Nathan’s Famous Systems, Inc.
As a restaurant brand, Nathan’s Famous has attained a reasonable amount of popularity and brand loyalty.
Nathan’s Famous was founded by Nathan Handwerker. Nathan Handwerker was born on June 14, 1892, and died on Sunday, March 24, 1974, at the age of 81.
Nathan was a Polish immigrant who was born in Galicia and came to the United States in 1912. Nathan Handwerker’s cause of death was a heart attack.
Nathan’s Famous was launched off the back of Nathan’s wife, Ida’s hot dog recipe and a borrowed capital of $300 (U.S. dollar). Nathan Handwerker’s son Murray Handwerker took over the running of the company on his father’s death.
Nathan’s Famous started franchising 43 years ago in 1975, 59 years after it was founded. The company headquarter is located in Jericho, New York, in the United States of America.
Nathan’s Famous operates fast-service restaurant chains. Nathan’s Famous products include hot dogs, seafood, hamburgers, and chicken. Nathan’s Famous has locations across the world in United States, Jamaica, Egypt, Costa Rica, Kuwait, Mexico, and Russia.
The company’s current Chief Executive Officer (CEO) is Eric Gatoff. The company’s President and Chief Operating Officer (COO) is Wayne Norbitz. Howard M. Lorber serves as the Executive Chairman.
Nathan’s Famous runs a hot dog eating contest at its original location at Coney Island.
Nathan’s Famous is the official hot dog brand of American professional baseball teams St. Louis Cardinals, New York Mets, Miami Marlins, and New York Yankees. Nathan’s Famous operates more than 1,400 stores in the United States. The company corporate address is located at 1 Jericho Plaza, #203 Jericho, NY 11753.
How Much Does Nathan’s Famous Franchise Cost?
Nathan’s Famous requires its franchisees to pay a franchise fee of $30,000 (U.S. dollar) and to also have a liquid asset of $200,000 (U.S. dollar). There are also other fees required to be paid by the franchisee.
Nathan’s Famous Franchise Fee
Nathan’s Famous franchisees are required to pay a franchise fee of $30,000 (U.S. dollar). Other fees include a royalty fee of 5.5% of gross sales and marketing development fund of 2% of gross sales.
Nathan’s Famous Franchise Startup Cost
The startup cost for Nathan’s Famous franchise is at a low of $82,200 (U.S. dollar) and a high of $1,071,360 (U.S. dollar).
Nathan’s Famous Franchise Training and Supports
Nathan’s Famous provides training and supports for its franchisees. The training which Nathan’s Famous provides for its franchisees has a duration of 5 to 10 days.
The trainees are required to attend the training satisfactorily. The training is delivered in a classroom format at the company’s headquarters in Jericho, New York.
Nathan’s Famous also provides support for its franchisees. The support that Nathan’s Famous provides for its franchisees include;
- Nathan’s Famous supports its franchisees with a grand opening.
- Nathan’s Famous host’s meetings and conventions for its franchisees.
- Nathan’s Famous supports its franchisees with advertising.
Nathan’s Famous Franchise Application and Terms of Agreement
The initial franchise agreement for Nathan’s Famous franchise has a length of 20 years. The franchise agreement can be renewed for one more term of up to 15 years. However, the initial franchise agreement for Kiosks and Mobile Units starts at a length of 5 years.
How Much Does a Nathan’s Famous Franchise Make?
The amount of money Nathan’s Famous franchise can make can’t be stated for sure. The amount of money Nathan’s Famous franchise can make is dependent on the location of the franchise. However, being that Nathan’s Famous has a long history and a band of loyal customers, the profit potentials for Nathan’s Famous franchise will be great.
How to Open a Nathan’s Famous Franchise
Do you find the information above very interesting and would like to open Nathan’s Famous franchise of your own? To open a Nathan’s Famous franchise, the franchisee should contact the company on its website at www.franchise.nathansfamous.com.