Family restaurant franchisor prepares entry into region
A Florida-based restaurant chain has begun talking with investors about their interest in opening franchised locations in Reno and Sparks.
Beef ‘O’ Brady’s believes the market could support three or four of its family-oriented restaurants, says James Walker, chief development officer of the company headquartered at Tampa.
The restaurants are billed as family-oriented sports pubs known for Buffalo-style chicken wings.
The company has been edging into Western markets and has opened restaurants in Arizona, California and Idaho.
Reno and Sparks, Walker says, fit the demographics where Beef ‘O’ Brady’s has found success.
“We look for markets that are known for strong populations of families. Reno is exactly what we are looking for,” he says.
In fact, he says it’s not uncommon for families to work together as owners of several Beef ‘O’ Brady’s franchises.
Walker said the company also believes that the Reno-Sparks market has plenty of room for another family restaurant offering.
The restaurants typically are located in 4,000- to 4,200-square-foot end-cap spaces at strip or power retail centers and generally have space for patio dining.
The company looks for locations with residential population of 35,000 within three miles, workplace population of 10,000 with one mile and median household income of $50,000 in the neighborhood.
It also wants to be located along streets with vehicle counts of at least 20,000 daily.
Walker says restaurants generally open within six months to a year after franchise deals are completed.
The company says the total estimated investment to open a location runs from $164,000 to $662,500, which includes a franchise fee of $35,000. Owners of the restaurants also pay a royalty of 4 percent of gross sales.
Franchisees must have net worth of $250,000 and liquid assets of $125,000 for each location that they develop.
The company provides eight weeks of training to franchise owners and doesn’t require restaurant or franchise background.
“We’re taking a careful approach to finding a franchise partner with business savvy, tenacity and a readiness to reinvest in the communities they serve,” Walker said.
Beef ‘O’ Brady’s, launched in 1985, has more than 210 company-owned and franchised locations in 21 states.
Kristina Miranda, who was hired recently as a staff accountant at Clausen & Company, is currently enrolled at the University of Nevada, Reno and is earning a Bachelor of Science in business administration.