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:

Van Ingram, Vice President of 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.

The Endless Buffet Concept:

Golden Corral's legendary endless buffet features an abudant variety of delicious all-time favorites and new menu offerings for breakfast, brunch, lunch and dinner.  Guests can choose from over 150 items including USDA, grilled-to-order sirloin steaks, pork, seafood, and shrimpt alongside traditional favorites like pot roast, fried chicken, meatloat, mashed potatoes, mac and cheese, Bourbon Street Chicken, fresh salads, our famous yeast rolls, the ALL NEW Smokehouse and more.

Annual Sales:

In 2018, the 41 franchised GC-11M restaurants in the top 20% tier based had average annual sales of $5.3 million, with 11 of the 41 restaurants above the average.*

2018 Systemwide Sales (franchised and Golden Corral-operated restaurants combined):

$1.733 billion (fiscal year ended 1-2-19).†

2018 Systemwide Units:

489 (451 franchised, 38 company-operated) in 41 states including Alaska

2018 Initial Investment:

$2,286,545–$6,732,615 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)

2018 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.

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

 

*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.

©2019 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.

© 2019 Golden Corral Franchising Systems, Inc
P.O. Box 29502, Raleigh, NC 27626
(800) 284-5673 | .(JavaScript must be enabled to view this email address)