Golden Corral Franchising Fast Facts

Name:

Golden Corral Franchising Systems, Inc.

Headquarters:

5151 Glenwood Avenue

Raleigh, NC 27612

CEO:

Lance Trenary, President and CEO

Vice President:

Bob McDevitt CFE, Senior Vice President of Domestic and International Franchise Development

Vice President:

Irwin C. Roberts CFE, Senior Vice President of Franchise Sales

Background:

Golden Corral’s first 175-seat, 4,800-square-foot family steakhouse opened in Fayetteville, NC, in 1973. The chain grew steadily during the next decade, principally in small cities from Virginia to Texas. In the mid-1980s, guests’ requests for additional entrees and an expanded salad bar prompted Golden Corral to “reinvent” itself by introducing  a 400+ seat, 11,518-square-foot  “Buffet & Grill” building design, with food preparation performed in full view of the dining area to emphasize product freshness and quality. The focal point  was the Golden Choice Buffet®, which featured 160 hot and cold items; a carving station for roast beef, roast pork, ham, sausage and turkey; plus The Brass Bell Bakery® and Dessert Café along with its smorgasbord of homemade yeast rolls, muffins, cookies, pies, and cakes.

Today’s Endless Buffet:

Along with home-style buffet favorites such as pot roast, fried chicken, mashed potatoes, and steamed vegetables, today’s endless Golden Corral buffet experience offers guests a wide variety of ethnic tastes and flavors that include Asian, Hispanic, and Italian influences.  Fresh—never frozen—USDA Sirloin steak maintains top billing as Golden Corral’s signature dinner product.  As a complement to its heritage hot buffet food products, each Golden Corral features a market-fresh salad bar where guests may build their own salads from dozens of ingredients.  And… dessert innovations are headlined by freshly-spun cotton candy, decadent pre-portioned desserts (that rival the Las Vegas buffets!), as well as the Famous Chocolate Fountain featuring a non-stop stream of chocolate, with a variety of fresh fruits and sweet tooth favorites that are available for dipping and dunking.

On weekend mornings only, Golden Corral invites guests to rise and shine for its legendary, endless breakfast buffet, which features cooked-to-order eggs and omelets, hand-cut bacon, freshly-ground sausage, buttermilk pancakes, crispy waffles, homemade cinnamon rolls, fresh-cut fruit, and a variety of juices.

Building Designs:

There are two Golden Corral building designs to match the building size and land needed to meet the market potential. The smallest is the GC-11S design with 278–300 seats and the GC-11M seats 380–400.

Annual Sales:

In 2015, the 42 franchised GC-11M restaurants in the top 20% tier based on annual sales had average annual sales of $4,996,948, with 14 of the 42 restaurants above the average.*

2015 Systemwide Sales (franchised and Golden Corral-operated restaurants combined):

$1.740 billion (fiscal year ended 12-30-15).†

#1 Ranking:

Entrepreneur magazine named Golden Corral the #1 franchisor in the U.S. among family steakhouses in 2016 for the 20th year. In 2011, Nation’s Restaurant News ranked Golden Corral #1 in the grill-buffet segment for the 14th year.

2015 Systemwide Units:

484 (390 franchised, 94 company-operated) in 41 states including Alaska

2015 Initial Investment:

$1,968,244–$5,969,693 estimated (depending on restaurant size; 11S for smaller markets and 11M for larger markets)

Financial Qualifications:

$2,500,000 net worth for individual or investment group

$500,000 liquid (as part of the $2,500,000 net worth)

2015 Fees:

Initial franchise fee: $50,000 per restaurant

Royalty: 4% of gross sales

Advertising: 2.4% of gross sales minimum

Franchise Agreement Term:

15 years (plus two, 5-year renewal options)

Financial Assistance:

Yes. Third-party financing may be provided from over 40 of the nation’s leading lenders

Site Selection Assistance:

Yes. In-house franchise real estate directors are available

Training:

A 13-week training program covering all aspects of restaurant management and operations. The program consists of 13 weeks in certified training restaurants.

National Menu Honors:

Satisfying evolving consumer food taste preferences earned Golden Corral the Nation’s Restaurant News prestigious “MenuMasters Award” and the national Restaurant Business “Menu Strategist Award”. Restaurant Business magazine reported that Golden Corral’s test kitchen team produces “best in class” results and has some 30 new food items undergoing consumer evaluation in restaurants at all times. New recipes emphasize bolder flavors, ethnic tastes and unique new products that highlight the freshness and scratch-made quality of Golden Corral offerings. 

Other Facts:

• Privately-owned with active founder and stable corporate senior management

• Franchise Advisory Council—18 franchisees elected by their peers meet four times a year for two days with 21 members of management, including the CEO

• Combined purchasing power of nationwide system with leading specialty distribution company, and equipment supplier with advantageous pricing

• No alcohol, no liquor liability, no late hours

Additional Information:

Application etc. at www.goldencorralfranchise.com.

*CAUTION: THIS FIGURE REFLECTS AVERAGE SALES ONLY. A new franchisee’s results may differ from the represented performance, so THERE IS NO ASSURANCE YOU’LL DO AS WELL. IF YOU RELY UPON OUR FIGURES, YOU MUST ACCEPT THE RISK OF NOT DOING AS WELL. SEE OUR Franchise Disclosure Document FOR DETAILED INFORMATION ABOUT OUR FRANCHISEE- AND COMPANY-OWNED RESTAURANTS’ FINANCIAL PERFORMANCE.

† Caution:  THIS FIGURE INCLUDES SALES FROM 11-S AND 11-M RESTAURANTS AS WELL AS SALES FROM OTHER RESTAURANT BUILDING DESIGNS THAT ARE NOT CURRENTLY AVAILABLE UNDER OUR FRANCHISE PROGRAM.

©2016 Golden Corral Franchising Systems, Inc.

*This website does not constitute an offer to sell a franchise. We offer franchises, as well as development rights to open multiple franchised stores, only through our Franchise Disclosure Document. In addition, if you are in a state that requires franchisors to register their franchise offering before offering franchises or development rights in the state, we will not proceed with any offer unless we currently are registered in that state.

© 2017 Golden Corral Franchising Systems, Inc
P.O. Box 29502, Raleigh, NC 27626
(800) 284-5673 | .(JavaScript must be enabled to view this email address)