Larry's Giant Sub - Home of the BIG one!
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Additional Information

What Makes Larry's Giant Subs so good and what makes the difference? Both of these questions can be satisfied by one simple statement: Larry's Giant Subs uses the finest quality meats available, and each sub, sandwich and salad is specifically made to order so that we can meet the quality that all of our customers have come to expect.

The Product

Larry's Giant Subs features fifty (50) varieties of New York style submarine sandwiches, deli sandwiches and salads from which to choose. We proudly display all of our meats and cheeses in 6 foot deli cases. We use only the finest USDA Black Angus Roast Beef, premium ham, fresh turkey breast, Albacore tuna salad made with Hellmann's mayonnaise, special blend Italian dressing, capicola ham, stone ground mustard and smoked provolone cheese to name a few of our many varieties of cold cuts, cheeses and condiments. Larry's Giant Subs speaks for itself. It is the BEST. We take pride in each sub that we make for our customers. If it is not right, WE MAKE IT RIGHT! It took Mitch and Larry Raikes many years to design these famous giant submarine sandwiches and find the right combinations. Now Larry's Giant Subs is serving approximately 10,000,000 sandwiches annually.

Franchisee's Initial Investment and other financial obligations:

In addition to the initial Franchise Fee, the Franchisee can expect to incur certain substantial costs in starting up the Franchise. An estimate of these costs is set forth below.

Item Est. Cost Min/Max When Due Paid To  

Initial Franchise Fee

$20,000

Upon Signing of Agreement

LGS

 

Lease Hold Improvements

$75,000-$145,000

Per Agreement

Builder

Note 1

Security Deposit

$2,500-$4,500

Upon Signing of Lease

Property Management

 

Travel and Living Expenses While Training

$0-$3,000

During Training

Airline, Hotel etc.

 

Equipment

$55,000 - $75,000

Prior to Opening

LGS

Note 2

Signage and Decor

$24,000 - $30,000

Prior to Opening

LGS

Note 3

 

 

 

 

 

Inventory

$5,000- $5,500

Prior to Opening

Vendors

Note 4

Miscellaneous Opening Costs

$3,500-$6,500

as incurred

Vendors, Opening Costs Employees, Utilities, Insurance

Note 5

Working Capital
(3 months)

$10,000-$15,000

as incurred

Vendors, (3 months) Employees Utilities, etc.

 

Total

$197,500-$305,000

 

 

 

         
Note 1 - The average Larry's is 1,000 to 2,500 sq ft. This figure includes the average build out including tile and counter.

Note 2 - This includes registers, tables, chairs, restaurant equipment, a computer and a fax machine.

Note 3 - This includes the interior signage and deli décor, the logo exterior sign, pictures and the menu board.

Note4 - This inventory is the initial order and can last the store anywhere from a week to two weeks; depending on the business the store does.

Note 5 - This includes pre-opening payroll, pre-opening advertising, utilities for the first month, and incorporation fees (business licenses etc.)

Demographics

  • Minimum street traffic count of 15,000 cars per day at a speed not to exceed 40 MPH. Two way local traffic with a traffic light near the store is preferred. (The absence of a median is preferred).
  • Easy access to parking.
  • Store front visible from all directions. Signs for walking and driving customers.
  • Driving, eating, shopping and working habits of the people and the neighborhood should be studied.
  • Generally, subs are most frequently purchased by people of all ages.

Lease Provisions

  • Ten-year term with five-year option or five-year term with (one) five year option. · Clause stating that the lease shall be cancelled if tenant is unable to receive all necessary permits.
  • Rent start date ninety (90) days after landlord has approved tenant's architectural plans or when tenant opens for business with the public.
  • Clause stating that throughout the lease when landlord's approval is needed, such approval shall not be unreasonably withheld.
  • The lease terms and conditions are an important part of your investment. If there are any questions, review the lease with a real estate attorney prior to its execution.
  • Leasehold improvements can be greatly educed if the landlord pays for the tenant's construction costs.

Construction

The condition of the premises, utilities available and size/shape of the proposed store directly affect the capital outlay for leasehold improvements and their costs. The following are some minimum requirements, cautions and preferences: · Storefront and width should be a minimum of fifteen (15) feet. Twenty (20) feet is preferred and twenty-five (25) feet allows for a good seating arrangement. · A minimum total of 1000 square feet is required. 1250 square feet is preferred and 1500 square feet allows for the best possible serving and eating arrangement. · Ceiling height should be a minimum of eight (8) feet. Ten (10) foot ceiling heights allow for indirect lighting for better product case and menu display. The following utilities should be used: · 250 amp (minimum) electric delivered to a main disconnect switch with one 220 volt outlet. · Hot and cold water with sufficient pressure, temperature and pipe size for store distribution. · Two handicap accessible restrooms with floor drains. · Complete heating and air conditioning system.

Guidelines for Larry's Giant Subs Locations

Types of stores: There are three types of stores, each having their own advantages and disadvantages:

  • In-line Store fronts. Corner store preferred: types of stores with neighborhoods on either side, plus visibility to our store are very important.
  • Convenience or strip shopping center: this type of center should have a large, high-volume supermarket and/or a home center or discount center. The best location is close to the supermarket entrance (or the highest traffic generator). Visibility to store front and parking convenience should be analyzed.
  • Enclosed Mall: Location is critical. Walking traffic flow and entrance/exits should be studied at various times of the day for flow patterns. Parking should be adequate, convenient and weather protected if possible. Close proximity to proposed store location is essential. Generally speaking, in-line store fronts, convenience or strip shopping centers and enclosed malls, with the proper generators, and demographics are all good locations, providing the rent structure relates favorably to the gross volume.

Generators

The following customer generators should be available at various times of the day to satisfy the store hours which are 10:30 AM to 10:00 PM seven days a week.

  • Theaters in the immediate area with 4 to 6 showings at various times of the day. · Quality restaurants, that don't primarily serve submarine sandwiches, should be in the immediate vicinity.
  • Churches, schools, colleges, hospitals, office parks, high density residential areas and recreational facilties.
  • Shoppers walking or driving past the store.
  • Light, commercial daytime traffic from offices, hotels and other businesses in the immediate trading area is a plus.
  • High rise apartments, garden apartments and multi-family homes are preferred in the immediate store vicinity to help increase population density.
  • Bus stops and train entrances often generate people to the area. Study walking patterns of the commuters at various times of the day.

 

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