When looking at national chains of Asian restaurants, the one that stands out in many minds is PF Chang’s. Featuring traditional and contemporary pan-Asian dishes in a full-service environment, diners are treated to an ancient replicated Asian shrine environment for their meal. With signature dishes like the banana spring rolls and their General Tao’s chicken, people who love sweet, sour, or spicy queue up every day across the country to experience the depth of flavors that come out of this franchise’s kitchen.
Do you have a passion for Asian cuisine as well? Would you like to invest in an amazing opportunity to provide your community with some of the most popular food in the US right now? If so, then a PF Chang’s franchise might be the right investment to make. Let’s look at the details of the franchising opportunities that are provided by PFCB.
What Is the Initial Investment That Is Required?
The franchise opportunity for a PF Chang’s originates outside of the United States. PFCB, the home company of PF Chang’s and their Pei Wei quick service Asian restaurant, are actively seeking a limited amount of franchises in international markets through a very tight screening process. There are not any domestic US franchise opportunities, unfortunately, at this time. There are some opportunities for franchises in Mexico and Canada, in addition to other international locations, if you’re looking for a foreign investment to add to your investment portfolio.
Because PFCB is being very select in who becomes an international franchisee for their organization, the selection process takes precedence in the investment process beyond just having the money available to start a unit. To ensure the highest levels of success, PFCB has developed four specific criteria to determine who may become a potential international franchisee. Here are those criteria, in no particular order:
1. How developed is your business plan? PFCB will only consider investors for a PF Chang’s franchise that have a fully developed business plan in place at the time of the application process. This includes a five year plan that must be realistic, actionable, and be based on a proven model of success.
2. Do you have proven experience? Along with a proven business plan, potential international franchisees must also have a proven record that details successful experiences with the restaurant and/or hospitality industries. A preference will be given to those who have experience in the pan-Asian cuisine niche as well.
3. Unquestionable financial resources. International franchise agreements will only be handed out to investors who are willing to develop a minimum of five locations in their first 60 months of being a franchisee. You must be able to provide to PFCB that you have the financial capabilities, community contacts, and a pool of talent readily available to be able to make this level of development become a reality.
4. A proven positive internal culture. To facilitate success, PFCB wants franchisees to encourage success. You must be able to show that you can build a positive culture inside each unit that will further build the reputation of the PF Chang’s brand in each international community.
Are You Looking For a US Domestic Full Service Restaurant Franchise?
If you don’t want to get involved with an international franchise investment at this time, then there are a few full service cuisine franchise opportunities available right now. Here is a brief look at them in no particular order:
The Melting Pot: One of the things that makes PF Chang’s such an award-winning restaurant is their ability to fuse together different cuisines into a pan-Asian experience that is consistent and good. The Melting Pot does the same thing, but instead of Asian cuisine, offers customers various kinds of fondue. You’ll give customers private tables, a unique experience, and the franchise fee is just $45k. On the downside, the initial investment could be as much as $1.5 million.
CiCi’s Pizza: If Asian cuisine isn’t a possibility, then pizza is always a good place to find success. It’s often ranked as one of the most craved foods in the United States and billions of slices are consumed every year. This franchise opportunities is a Top 250 ranked investment, franchise fees can be as low as $15k per unit, and you can be an absentee owner. The ongoing royalty is as low as 4% as well, but there is a net worth requirement of $750k.
Denny’s: Combining the QSR model with a sit-down restaurant is this popular franchise that offers reasonably priced meals 24/7 at many locations. It’s come a long way from their initial start as a donut chain and this franchise is one of the best for diversity. The franchise fee is a fair $40k and the term of the franchise is 20 years, but the minimum net worth is $1 million per unit. There’s also a high end initial estimate investment of $2.6 million to get just one location off the ground, but it is a proven business model that invites success.
Famous Dave’s: There’s nothing like good barbecue and that’s what this Wisconsin-based franchise opportunity is able to provide. Dave Anderson opened his first restaurant in Hayward, WI and hasn’t looked back since his sauce recipe won the gold medal as the best American sauce in 1995. Opportunities are available throughout North America and the franchise fees begin at $30k, but up to $1 million of liquid cash may be required to qualify as a franchisee.
BD’s Mongolian Barbeque: If you do want to keep to the Asian theme, then this franchise opportunity might be the best one out there right now. For the last 20 years, this restaurant has allowed customers to choose their own ingredients, from seafood to sauces to spices, and then have their meal created on a large grill before them. Go mongo… but only if your net worth is $2.5 million.
Although PF Chang’s isn’t offering any US domestic franchising opportunities right now, there are a number of unique sit-down restaurant options available to invest in right now. Branch out, perform your due diligence with each unique opportunity, and put your money where your community is craving the foods you could provide right now.