The WaBa Grill is a teriyaki house that creates stunning dishes that are cooked over a hot flame grill. The first restaurant was opened in 2004 in Los Angeles, CA and the WaBa Grill concept has become a fast-growing franchise investment opportunity in a number of locations. Averaging 10 new units per year, but with ambitious growth goals of having over 2,000 total franchises, the time is right to get involved if you’re looking to become involved with the high quality QSR market.
Is this the right investment opportunity for you? What are the initial investment expectations as a WaBa Grill franchisee? Will you receive an adequate amount of support from the home organization if you decide to sign the franchise agreement? Let’s take a look.
What Is the Initial Required Investment?
The first part of the investment consideration as a WaBa Grill franchisee is the initial franchise fee. The first restaurant is $25k, while additional units that you may wish to develop are $20k per store. The franchising term is good for 15 years and you’ll get one option for a 10 year renewal with your signature and fees paid. You’ll need to have provable assets of at least $250k in liquid form and have an excellent credit rating in order to qualify as a franchisee.
You will also need a provable net worth of at least $1 million to initially qualify. This requirement may be higher if you wish to develop multiple units. The liquid cash assets may also have higher requirements for multiple unit development opportunities.
After you achieve your grand opening, there will be an ongoing royalty of 5% that is paid from your gross sales. This is supplemented by a marketing fund royalty of an addition 2%. These royalties remain static no matter how many units you may decide to develop in your community or region. In return, you’ll be receiving quality recipes that will attract customers who are focused on healthy eating. WaBa Grill utilizes no frying on their menu, no oils, and no MSG. There’s just low calorie, high protein dishes that are made fresh to order.
The total expected investment is about $300k to achieve a grand opening and operate for the first 3 months. You’ll also need to prove a minimum of 2 years of successful restaurant experience in either a management or an ownership role in addition to the financial requirements. WaBa Grill also interviews potential franchisees to determine if they are committed to encouraging the growth of the franchise so they can meet their goal of 2,000 total franchises.
The nickname that WaBa Grill has given themselves is that they are the In-N-Out Hamburger of teriyaki restaurants. The goal is to provide exceptional service and that is the primary aspect of the vetting process that this organization is going to want to see.
What Kind of Support Is Received?
The training begins with an overview of the recipes. What makes WaBa Grill an attractive franchise option is the fact that all natural ingredients are used. The teriyaki sauce flavor, for example, comes from a blend of veggies and fruits instead of preservatives. Only fat trimmed proteins are used and even the salads are prepared fresh.
You’ll also receive continued support throughout the entire development process so that you can get the right site selected for your new business. The corporate training will take you through the best practices that have been developed so that you can get a true feel for what the healthy niche QSR can offer your local community. This includes restaurant layout, equipment overviews, and grill use in addition to the overview of the recipes involved in the creation process.
The typical store footprint has a minimum of 1,200 square feet. For high traffic commercial or industrial centers, the organization may request a footprint up to 1,800 square feet. Locations are variable, but focused on population-dense areas where catering, lunch, and dinner are the primary focus.
The ongoing support encompasses all aspects of the business because WaBa Grill is dedicated to the team concept. The philosophy is that teams work better when everyone’s strengths are used, so you’ll be able to have any question answered quickly is a problem creeps up as a franchisee. The goal is to become the premier QSR location for healthy eating so that everyone can have a satisfying overall experience.
How Good Is This Investment Opportunity?
Healthy eating options are becoming very popular in this QSR market. People are willing to pay more for fresh, healthy a food that taste great and that’s exactly what you’ll provide people with a WaBa Grill franchise. This niche is expected to continue growing into a multi-billion sub-demographic, so the time is right to get involved with the healthy menu options that you’d receive as a franchisee of this organization.
As for the initial investment costs, that fall in-line with similar opportunities in the QSR field. The ongoing royalties are also about average, which means the determining factors are your passion for healthy food, your commitment to a team environment, and a solid credit history that can be leveraged to help you potentially develop multiple units.
There are always risks in the restaurant industry and margins are often quite small. The healthy QSR concept gives you some cushioning over the typical margin rates and will create ongoing repetitive revenue streams because of the variety of the menu and the intense flavors of the recipes, especially from the WaBa Grill concept.
If you want to get involved with this field, this is a good investment opportunity to consider. To begin your quest, you’ll need to contact WaBa Grill directly about your intentions and they will schedule an interview with you to begin the vetting process. If you’re ready to get into the restaurant industry, then this organization is waiting to see what you’ve got to offer. Request more information today.