Q. IS NEWK’S INTERESTED IN EXPANDING OUTSIDE OF THE U.S.?
A. Currently, we are focused on opportunities in the U.S. only.
Q. WHAT DOES IT TAKE TO BE A SUCCESSFUL FRANCHISEE?
A. The three most important factors are experience managing and operating successful restaurants, sufficient capital to weather financial ups and downs, and a passion for the business. In our experience, people who open a franchise for the investment potential but don’t want to be actively involved in its operation tend to be unsuccessful.
Q. HOW MUCH DOES IT COST TO OPEN A NEWK’S UNIT?
A. For most franchisees, the estimated cost to open ranges from $932,000 to $1,331,000. This range includes the initial franchise fee, real estate costs, furnishings, fixtures and equipment, architect fees, insurance fees, initial supply inventories, training expenses, grand opening advertising costs and other necessary costs. Costs may vary by market and business decisions that franchisees make in their start-up.
Q. HOW LONG DOES IT TAKE TO OPEN A NEWK’S LOCATION AFTER THE FRANCHISE AGREEMENT IS SIGNED?
A. You should allow a minimum of nine months to prepare for the opening of your restaurant. The time frame may be slightly more or less, depending on your experience with opening restaurants.
Q. WHAT COSTS AND FEES ARE ASSOCIATED WITH BEING A NEWK’S FRANCHISEE?
A. Newk’s franchisees pay an initial franchise fee of $40,000, due when you sign the Franchisee Agreement. Operating a Newk’s unit requires ongoing monthly royalties of 5 percent of net revenue and an annual marketing fund fee of 1 percent of net revenue.
Q. I’M INTERESTED. HOW DO I GET STARTED?
A. First, contact us so that we can discuss any questions or needs you may have and discuss market opportunities and available territories. Next, you’ll need to complete our application process, provide supporting financial documents and attend a Discovery Day before we can finalize a franchise agreement and start planning your grand opening.