Starting an entrepreneurial chapter in your life is an exciting opportunity -- especially when you choose to invest in a Hungry Howie's franchise, where you'll find a recipe for lasting success.
As you would with buying any franchise, you'll need to determine the financial investment and know what to expect while you're starting your business.
Although these do not represent the total potential costs to open and operate a Hungry Howie's franchise, here are the minimum financial requirements you'll need:
LIQUID ASSETS
Liquid assets are those which can be quickly turned into cash on-hand, and in-the-bank and ready to invest. Even though you'll need to obtain additional financing for other start-up costs, these liquid assets are vital to be able to pay for ongoing expenses for your new franchise -- including wages, rent, advertising, royalties, and other expected costs that arise while your business is beginning to make money.
Liquid assets include:
- Cash
- Checking and savings accounts
- Stocks
- Mutual funds
- Money market funds
- Bonds
- Some retirement accounts
If you haven't already done so recently, catalogue all your liquid assets to determine how much cash you'll be able to have readily available.
To begin the process to start your own Hungry Howie's franchise, you'll need to have at least $300,000 in liquid assets.
NET WORTH
Your net worth is all of your assets -- including liquid assets, personal property, investments, and retirement savings -- minus your liabilities. All of your credit card debts, home and auto loans, and other debts are included in your liabilities. The difference once you have subtracted your liabilities from your assets is your net worth.
A solid net worth when buying a franchise allows Hungry Howie's to see how financially smart you are with your money and how good of an investment you'll be -- after all, we want to make sure you'll be able to be successful and grow your business over time!
Calculate your liquid assets and liabilities to determine your net worth when you're ready.
Your net worth requirement to open your own Hungry Howie's franchise is $400,000.
CREDIT SCORE
Your credit score is a compilation of your personal financial decisions: How you repay loans and debts; how timely you are in your payments; how many debts you have; what your debt-to-income ration is; your ability to finance.
We want to be able to know that you have made sound financial decisions so we'll be able to help you succeed -- and to ensure that you'll be able to obtain financing to build your franchise.
If you're even considering starting your own franchise sometime in the future, start doing what you can now to make sure your credit history shows what you're capable of.
For us to consider you for owning a Hungry Howie's franchise, your credit score must be at least 700.
FINANCING ABILITY
To build and open a Hungry Howie's franchise location, the costs typically come in between $315,331 and $507,848.* That's a big chunk of money, and is in addition to the liquid assets you'll need to have on hand, so we need to know you'll be able to finance that portion.
There are various places you can go to for financing your franchise --and although Hungry Howie's does not offer financing, we can help direct you to sources that have provided franchising for some of our other franchisees.
Your options for financing may include a commercial bank loan; SBA (Small Business Association) loans; or other sources. If you do decide to go for the SBA loan, Hungry Howie's is already on the SBA Franchise Registry list -- so you'll receive a receive a streamlined review process when you apply.
To open your own Hungry Howie's franchise, you'll need to be able to obtain financing for up to $350,000.
FRANCHISE FEE
When starting a franchise, you'll pay a franchise fee. This is your entry into unlocking all the systems Hungry Howie's has to offer, because with more than 525 locations in more than 20 states, Hungry Howie's has a proven franchise system that works!
The franchise fee is separate from your other costs, and is like your license to own and operate a Hungry Howie's franchise. It helps us be able to welcome you into our slice of the business world!
The franchise fee for a single Hungry Howie's franchise location is $25,000 (and we discount that fee by 50% for qualifying owner/operator veteran's to thank you for your service).*
ROYALTY FEE
For using the Hungry Howie's franchise system, product, name, and other business aspects, you'll pay a royalty fee -- just as you would with any other franchise. This usage benefits you, as the owner/operator, and helps make your business successful.
The ongoing royalty fee is 5.5 percent of your Hungry Howie's franchise gross sales.*
MARKETING AND ADVERTISING FEES
We want to do everything we can to help you succeed -- so to help promote your franchise, Hungry Howie's provides top-notch marketing and extensive branding in order to educate consumers and drive sales. That is covered by marketing and advertising fees.
When you have your grand opening, we'll help market and promote you -- and we'll also provide ongoing marketing support. That means print, digital, broadcast, social media, and in-store materials.
For your Hungry Howie's franchise, you'll contribute 6 percent of your gross sales for marketing and advertising fees (which are currently allocated as 1 percent for national and 5 percent for local marketing). You'll also contribute an additional 1 percent of gross sales on community marketing*.
START THE PROCESS TO OWNING YOUR OWN HUNGRY HOWIE'S FRANCHISE
Ready to start making the dough? Check out our FAQ's to download our free eBook, and speak to someone about the opportunity to open your own Hungry Howie's franchise!
*Source: Hungry Howie’s Pizza 2021 Franchise Disclosure Document.
This advertisement is not an offer of a franchise. Franchises are offered and sold only through a Franchise Disclosure Document.
STATE OF CALIFORNIA: THESE FRANCHISES HAVE BEEN REGISTERED UNDER THE FRANCHISE INVESTMENT LAW OF THE STATE OF CALIFORNIA. SUCH REGISTRATION DOES NOT CONSTITUTE APPROVAL, RECOMMENDATION, OR ENDORSEMENT BY THE COMMISSIONER OF CORPORATIONS NOR A FINDING BY THE COMMISSIONER THAT THE INFORMATION PROVIDED HEREIN IS TRUE, COMPLETE, AND NOT MISLEADING. MINNESOTA STATE REGISTRATION NUMBER F-2873.
