Shula’s Steak House
Date Incorporation: 1998
| Expenditures | Low | High |
|---|---|---|
| Initial franchise fee | $150,000 | $175,000 |
| Travel, lodging, and meals for initial training expenses | $5,000 | $10,000 |
| Real Estate Improvements | $450,000 | $2,000,000 |
| Memorabilia | $30,000 | $50,000 |
| Kitchen Equipment and Improvements | $75,000 | $200,000 |
| Signs | $10,000 | $30,000 |
| Operating Supplies and Equipment | $137,000 | $145,000 |
| Advertising Expenses | $30,000 | $60,000 |
| Grand Opening Advertising | $25,000 | $50,000 |
| Insurance | $4,600 | $7,500 |
| Additional Funds {3-month initial phase) | $210,000 | $310,000 |
| Total | $1,126,600 | $3,037,500 |
Ongoing fees:
| Name of Fee | Amount |
|---|---|
| Royalty Fee |
Shula's Steak House: 12% of monthly Gross Revenues Shula's 2 Steak and Sports: 8% of monthly Gross Revenues Shula's 347 Grill: 10% of monthly Gross Revenues Shula's on the Beach: 10% of monthly Gross Revenues |
| Local Advertising | Not less than $30,000 |
| Interest on Late Payments | 18% per annum; or maximum rate permitted by law. |
| Late Payment Fee | $100 |
| Refresher and Additional Training | Our current standard fees for programs and seminars, as well as travel, meal, and lodging expenses are $5,000 -$10,000. |
| Training Replacement Head Coach, Business Development Manager, and Shula's Chef | Amount of all travel, lodging, and meal expenses incurred, approximately $2,000. |
| Review of Unapproved Suppliers | The reasonable cost of the inspection and the actual cost of the testing. |
| Secret Recipe Products | Approximately $20,000 |
| Gift-Card Program | $80 access and administrative fee for first terminal and $3.00 for each additional terminal; $825 terminal fee (per terminal); .10 cents per transaction. |
| Transfer Fee | $5,000 |
| Successor Franchise Agreement Fee | Amount of all expenses (not to exceed $5,000) we incur in connection with extending the franchise. |
| Understatement Fee | Amounts due in connection with the understated amount, plus interest, and expenses connected with the inspection (including reasonable accounting and attorneys' fees and costs) |
| Inspection of Premises | Generally, $750-$2,000 (pet visit) |
| Visits by Don Shula | Generally, $7$0 - $2,500 {per visit) |
| Visits by Our President | Generally, $750 - $2,000 (per visit) |
| Indemnification | Amount of actions, judgments, damages, liabilities, losses, costs, and expenses |
| Quality-Evaluation Programs |
All expenses relating to the meals ordered in connection with the program. If an unsatisfactory or failing report is received, all expenses incurred to have the evaluation service evaluate the Franchised Business; all expenses incurred to inspect the Franchised Business afterwards; and any incidental costs |
Date of FDD: 4/11/2008
The above information has been taken from the UFOC/FDD of Shula’s Steak House
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