Known for fusing fresh ingredients together with modern techniques, the Bonefish Grill is known for creating extremely flavorful dishes with goat cheese, artichokes, hearts of palm, and sun-dried tomatoes. Started in the year 2000, there are three main traits that are considered mandatory in every investor into this franchise: honesty, respect, and hospitality. If you can emphasize those traits within your business plan, then you’ve got a great opportunity to create a profitable relationship with the Bonefish Grill.
What Are the Initial Investment Requirements?
The initial investment into the franchise name is relatively small compared to other franchise opportunities: just $9,500. Bonefish Grill also requires just $10,000 in liquid capital, allowing for owners who have their money tied up into other assets the chance to still expand and grow their own business while helping Bonefish Grill continues to establish their national brand. As of this writing, there are over 350 franchise locations for this seafood grill.
The initial investment is often just $10,000 to $25,000 for this franchise. That does not, however, include location startup costs, payroll costs, or other typical branding establishment that is required in a local community. On the other hand, Bonefish Grill is a hot name in the franchising market right now and every time a new restaurant opens, the national press tends to pick up on it.
Cash liquidity and net worth are also variables that are examined on a case-by-case basis. Because the emphasis of this brand is on complete transparency, however, if there are questions regarding the ethics of your finances in any way you may find that the Bonefish Grill decides that you’re not a good fit for their organization.
Why Choose the Bonefish Grill?
What makes this franchise opportunity truly unique is the atmosphere that this restaurant attempts to convey to each and every customer. Even though it is a sit-down restaurant using formal techniques, an informal atmosphere is encouraged through the displays of wine throughout the restaurant, the friendliness of the bar staff, and the casual settings. Even so, you’re still required to provide chef-coat service at your franchise location!
Bonefish Grill also places a heavy emphasis on music within their restaurant. Rather than play old and stuffy records, the focus is on new and emerging artists that sometimes even play live within a franchise location. Combined with a yearly concert series that headlines some of the top performers of yesterday and today, like 3 Doors Down to Ben Folds, there are plenty of cross-marketing opportunities to help expand the branding of your own franchise.
Bonefish Grill Even Lets You Go Behind the Scenes
Innovative recipes are what make the Bonefish Grill a hot commodity, but keeping those recipes secret isn’t what this franchise opportunity is about. Several recipes are offered on their primary website that allows the average person to replicate their experience in your restaurant at home whenever they wish to do so. This type of branding is offensive to some because it encourages at-home dining instead of going out to a restaurant, but this type of marketing also keeps your new franchise at the top of a consumers mind.
When they’re making dinner using a Bonefish Grill recipe they loved, they’re thinking about your franchise. When they think about your franchise first, they’re more likely to choose your franchise when they want to go out for a casual, sit-down meal. That means you’re more likely to get their repeat business than your competitors and that’s a good thing!
Going behind the scenes at Bonefish Grill is more than just a few recipes on a website. The farm-to-table movement is becoming extremely popular in the United States, but that’s not exactly something you can do with a seafood grill! Wild caught seafood is what attracts customers the most and the Bonefish Grill takes customers behind the scenes on their fishing vessels to show customers how their food comes from the sea to the plate.
Your customers will also get a glimpse of how the drinks at your establishment are created and it’s all with an emphasis of establishing a relationship with potential customers. For that reason, the Bonefish Grill provides one of the best co-op opportunities around: by establishing relationships with your customers, they’re helping you establish repeat business as a franchisee. There’s no better way to create a win/win situation!
What Can You Expect As a Franchisee of Bonefish Grill
For the last year that financials were reported publicly, which is FY 2012, each independent location of the Bonefish Grill brought in over $3 million in total revenue on average. Considering the small initial buy-in to the name, even an extensive investment in a location could pay off for a new business owner within the first year of business!
Now is the time, however, to invest in a Bonefish Grill franchise if you’re going to do it. In FY 2012, there were only 174 franchises. In 2013, the Bonefish Grill doubled that amount! A good restaurant will always attract customers, but there can also be market dilution if you are not careful. That’s why the time is right to get in on this proven, established opportunity. With wood-fired seafood and fresh options every day, people in every sector of the country are attracted to the transparency that this organization demands of itself and its franchisees.
You’re Franchising Into a Massive National Presence!
If you aren’t convinced as of yet to the benefits of having a Bonefish Grill franchise, then simply realize that you’re becoming a franchise of Bloomin’ Brands. With several national chains of restaurants, including Outback Steakhouse and Carrabba’s Italian Grill, your new franchise will have an immediate brand recognition within your community. That brand recognition is almost guaranteed to turn into immediate sales!
If you have no problem with being honest with your customers, transparent in your business practices, and are willing to work hard to establish a casual atmosphere that focuses on hospitality, then the Bonefish Grill is a wise investment to make. If you’ve ever wanted to franchise a restaurant with a growing brand, a good reputation, and provide your community with innovative, fun food, this is the best way to do it!