Native New Yorker
Date Incorporation: 1993
Franchising Since: 1993
Headquarters: Arizona
Description: A Native New Yorker restaurant is a family-oriented restaurant emphasizing a variety of quality food in relaxed sport-themed surroundings, with both dine-in and take-out services. The restaurant includes a separate but integral bar area for alcoholic beverage services, typically equipped with big screen televisions. The restaurants serve high quality, reasonably-priced fried chicken wings, hamburgers and other hot and cold sandwiches, a variety of pastas, pizza, ribs, chicken, appetizers, soups, salads, and desserts, as well as other items.
Franchise Offer: The franchisor is offering the right to establish and operate a Native New Yorker restaurant emphasizing a variety of quality food in relaxed, sport-themed, family-friendly surroundings. The franchisor may also offer an area development agreement granting the right to establish and operate multiple Native New Yorker franchises in a specific geographic area within a specific time frame.
Financial Assistance: The franchisor does not offer any direct or indirect financing.
Training and Assistance: The franchisor will train the franchisee and certain members of staff for a minimum period of at least 30 days. Training is commonly 6 weeks of classroom and on-the-job, on-site for 1 week, followed by grand opening assistance Training will occur at a location in Arizona, designated by the franchisor.
Territory: The franchisee will be granted an exclusive territory.
Term of Agreement and Renewal: The length of the franchise term is 10 years, with an option to renew for two additional successive terms of 5 years.
Obligations and Restrictions: The franchisee or owner manager must assume responsibility for the daily supervision and operation of the franchised business. The owner manager or substitute manager will be responsible for the day-today management, direct supervision and proper operation of the restaurant; and must be present at the restaurant not less than 40 hours per week and the majority of these hours must be during normal operating hours.
Total Number of Units: 23 outlets at the end of 2007
Total Number of franchises Units: 20 franchised outlets at the end of 2007
Investment Tables:
Initial Investment:
| Expenditures | Low | High |
|---|---|---|
| Initial Franchise Fee | $50,000 | $50,000 |
| Display Rack Items | $100 | $100 |
| Food & Lodging (2 persons while training, not including cost of transportation) | $1,250 | $5,000 |
| Real Estate and Leasehold Improvements | $120,000 | $700,000 |
| Furnishings, Equipment & Decorating | $180,000 | $300,000 |
| TV/Audio Video | $195,000 | $300,000 |
| Signs | $2,000 | $20,000 |
| Opening Inventory | $10,000 | $25,000 |
| Security Deposits | $14,000 | $30,000 |
| Insurance - 3 months | $5,000 | $10,000 |
| Local Advertising | $3,000 | $10,000 |
| Grand Opening | $13,500 | $13,500 |
| Architect Fees | $30,000 | $60,000 |
| Professional Fees | $2,000 | $10,000 |
| Small Wares | $5,000 | $15,000 |
| Liquor Licenses | $2,000 | $5,000 |
| Miscellaneous Cosls | $5,000 | $10,000 |
| Additional Funds - 3 months | $105,000 | $150,000 |
| Total Estimated Initial Investment | $742,850 | $1,713,600 |
Ongoing fees:
| Name of Fee | Amount |
|---|---|
| Royalty Fee | Greater of (i) 5% of monthly gross sales or (ii) the minimum royalty amount |
| Advertising Fund Fee | 2% of monthly gross sales |
| Additional Training Fee | $300 per person per day |
| On-Site Monitoring Fee | $300 per representative per day |
| Purchase of Display Rack Items | $100 |
| Successor Fee | $5,000 |
| Transfer Fee | 50% of the then current initial franchise fee applicable to purchase of first restaurant |
| Audit Fee | $2,500 plus our actual costs |
| Fines | Up to $500 per incident |
| Late Fee | Greater of $100 or 6% of past due amount |
| Default Interest | Lesser of 18% per annum (pro rated on daily basis) or highest rate permitted by law |
| Indemnification | Will vary with circumstances |
| New Product or Supplier Testing | Cost of Testing |
| Insurance | Actual cost of premiums, plus franchisor’s costs and expenses |
Date of FDD: 2/4/2008
The above information has been taken from the UFOC/FDD of Native New Yorker
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