How Much Does it Cost to Open an affordable Seafood Franchise?
How Much Does it Cost to Open an Affordable Seafood Franchise?
Would you like to be the captain of your own seaworthy franchise, offering a menu full of incredible culinary items while enjoying the lively vibe in our restaurants? It’s possible with one of our affordable franchises.
Still Alive and Kickin’! — The Resilient Restaurant Industry
Recessions and pandemics pose real threats to the restaurant industry, and this sector took some hard hits recently. Still, there are encouraging statistics that prove just how tough this segment is.
Seafood Success!
- The seafood industry is valued at $102 billion and relies largely on restaurants and retail sales for distribution.¹
- Seafood selections are the second highest selling item on menus within the full-service restaurant sector.²
- With an increased interest in brain health and memory function, fish consumption is rising in popularity.
Customers Love Eating Out!
- 60% of adults say restaurant dining experiences are an essential part of their lifestyles.
- 85% of adults say that dining out with friends or family is a better use of their time than cooking from home.
- Nearly 8/10 adults say they cannot duplicate the quality of food and flavors of restaurant menus at home.
- 83% of adults say they’re not dining out as often as they’d like.
All of this bodes well for those in the restaurant industry. Even the CEO of the National Restaurant Association, Tom Bené agrees:
“Amid an ever-changing landscape of dining restrictions and widespread closures, restaurants found ways to adapt, keep people employed, and safely serve our guests. We are confident in the resilience of the industry’s workforce, operators, suppliers, and diners.”³
Knowing that investing in any kind of business poses certain risks, it’s important to find an affordable franchise with a strong infrastructure and promising ROI.
As the Owner of the best new oyster bar in town (likely the only one in town!), you’ll quickly realize what a smart move you’ve made. All it takes to get there is the right amount of capital and a go get ‘em attitude with a little business know-how to back you up.
The Investment Cost
Opening a restaurant comes with its share of expenses, but with most restaurant franchise price tags marked somewhere between $500,000-$1,000,000, a Shuckin’ Shack is certainly a more affordable franchise than many others.
- $352,700-$1,128,252 – The initial investment range
- $250,000 – Liquid capital required for making this venture
- $600,000 – Required net worth of potential applicants
- $987,901 – Average net sales reported by Franchise Owners
The sales-to-investment turnaround reflects a high probability for success. How long will that take? Of course, that’s hard to say. But if you want to take a look at our profitability summary, you’ll find we’ve had some strong financials come through in the past.
Our franchise development director is available to walk you through any questions you might have about how our affordable franchise works. If you still want to know more, we can share our Franchise Disclosure Document with you.
Investment Breakdown
| TYPE OF EXPENDITURE | RANGE | DESCRIPTION |
|---|---|---|
| Initial Franchise Fee | $45,000-$45,000 | This is like an entry fee. It’s the price you pay to unlock the franchise opportunity, giving you access to the Franchisor’s proprietary business systems and intellectual property. Active duty and retired U.S. military veterans receive a 10% discount to thank them for their services. |
| Training and Opening Fee | $10,000-$10,000 | We offer exceptional training with ongoing field and market support. This is an indispensable resource that will equip you with all the skills and smarts needed to operate your own Shuckin’ Shack. |
| Travel and Living Expenses | $400-$7,500 | As you go through the training and prep phase, this will help cover any costs for airline travel and accommodations. Training is held at our “Shuck U” campus in Wilmington, North Carolina. |
| Rent or Real Estate | $10,000-$30,000 | Depending on your unique scenario, this will be enough to cover rental or real estate fees incurred as you get started. |
| Leasehold Improvements, Construction Costs | $82,000-$385,400 | This varies drastically depending on current market values in the location you’re looking to do business. It also depends on whether you’re starting with land excavation or purchasing an existing commercial property. |
| Furniture, Fixtures, and Equipment | $48,000-$174,000 | From seating, countertops and cabinets to kitchen appliances, restroom facilities and food storage, this fund will help put a few more pieces in place in preparation for your grand opening. |
| Signage | $1,400-$15,000 | Depending on how big and fancy you go, this will take care of your storefront branding and design. |
| Décor | $5,000-$25,000 | It requires just the right touch to create our trademark beach vibe with its easygoing atmosphere. We also consider local trends such as style, culture and architecture. The result reflects the unique flair found in that particular community. |
| Liquor License | $1,800-$2,400 | This gives you the legal right to sell our assortment of incredible cocktails and shooters. |
| Miscellaneous Opening Costs | $1,000-$15,000 | This allotment gives you wiggle room in which to fit any other expenses you’d like to use to make your grand opening as successful as possible. |
| Initial Inventory - Food & Beverage | $15,000-$16,500 | Fill up your pantry and stock your shelves to prepare for hungry customers who will flock to your doors upon opening. |
| Three Months of Advertising & Marketing | $1,500-$2,200 | Our marketing specialists will help you spread the word that a new joint has opened in town. This will help get you off to a strong start! |
| Insurance | $3,000-$9,000 | You’ve gotta make sure all those assets and supplies are protected, so you’re on solid footing with this investment. Insurance will help ensure your business can move full speed ahead, come what may. |
| Computer Equipment & Proprietary Software | $8,600-$14,750 | It takes just the right technology to ensure your franchise ship is sailing smoothly toward success. Our sophisticated computer programs with their complex, lightning-fast functions will serve as a vital asset so you can perform day-to-day tasks with ease. |
| Additional Funds for First Three Months | $20,000-$25,000 | As your franchise ship sets sail, you’ll want a little buffer fund to carry you out into those open waters successfully. This chunk of change will allow you to clear the 90-day hurdles as a new business. |
| Total: | $352,700-$776,750 |
Investment Breakdown
| TYPE OF EXPENDITURE | RANGE | DESCRIPTION |
|---|---|---|
| Initial Franchise Fee | $45,000-$45,000 | This is like an entry fee. It’s the price you pay to unlock the franchise opportunity, giving you access to the Franchisor’s proprietary business systems and intellectual property. Active duty and retired U.S. military veterans receive a 10% discount to thank them for their services. |
| Training and Opening Fee | $10,000-$10,000 | We offer exceptional training with ongoing field and market support. This is an indispensable resource that will equip you with all the skills and smarts needed to operate your own Shuckin’ Shack. |
| Travel and Living Expenses | $400-$7,500 | As you go through the training and prep phase, this will help cover any costs for airline travel and accommodations. Training is held at our “Shuck U” campus in Wilmington, North Carolina. |
| Rent or Real Estate | $10,000-$30,000 | Depending on your unique scenario, this will be enough to cover rental or real estate fees incurred as you get started. |
| Leasehold Improvements, Construction Costs | $82,000-$385,400 | This varies drastically depending on current market values in the location you’re looking to do business. It also depends on whether you’re starting with land excavation or purchasing an existing commercial property. |
| Furniture, Fixtures, and Equipment | $48,000-$174,000 | From seating, countertops and cabinets to kitchen appliances, restroom facilities and food storage, this fund will help put a few more pieces in place in preparation for your grand opening. |
| Signage | $1,400-$15,000 | Depending on how big and fancy you go, this will take care of your storefront branding and design. |
| Décor | $5,000-$25,000 | It requires just the right touch to create our trademark beach vibe with its easygoing atmosphere. We also consider local trends such as style, culture and architecture. The result reflects the unique flair found in that particular community. |
| Liquor License | $1,800-$2,400 | This gives you the legal right to sell our assortment of incredible cocktails and shooters. |
| Miscellaneous Opening Costs | $1,000-$15,000 | This allotment gives you wiggle room in which to fit any other expenses you’d like to use to make your grand opening as successful as possible. |
| Initial Inventory - Food & Beverage | $15,000-$16,500 | Fill up your pantry and stock your shelves to prepare for hungry customers who will flock to your doors upon opening. |
| Three Months of Advertising & Marketing | $1,500-$2,200 | Our marketing specialists will help you spread the word that a new joint has opened in town. This will help get you off to a strong start! |
| Insurance | $3,000-$9,000 | You’ve gotta make sure all those assets and supplies are protected, so you’re on solid footing with this investment. Insurance will help ensure your business can move full speed ahead, come what may. |
| Computer Equipment & Proprietary Software | $8,600-$14,750 | It takes just the right technology to ensure your franchise ship is sailing smoothly toward success. Our sophisticated computer programs with their complex, lightning-fast functions will serve as a vital asset so you can perform day-to-day tasks with ease. |
| Additional Funds for First Three Months | $20,000-$25,000 | As your franchise ship sets sail, you’ll want a little buffer fund to carry you out into those open waters successfully. This chunk of change will allow you to clear the 90-day hurdles as a new business. |
| Total: | $352,700-$776,750 |
Financing is Available
To turn this dream into a reality, you may need a leg up. We’ve partnered with Benetrends Financial to make the start-up process easier for those who need assistance. As the nation’s leading small business financier, there are two different plans to choose from that will put this amazing opportunity within reach.
- Rainmaker IRA Plan – With no debt, no penalties and no upfront taxes due, this funding is simple to secure following a quick, four-step process. It’s safe, proven, and will have you sailing your ship in no time!
- SBA Small Business Loan – Let the experts match you with a loan that fits you perfectly. With a success rate of over 97%, this option is backed by a Benetrends Money-Back Fee Guarantee.
Don’t let money be the reason you don’t take this journey. If this is the path you feel called to travel, we can help you get there.
What are Royalty Fees Like?
During your first year of operation, the royalty fee is only 3.5% paid on a bi-weekly basis. In year two that percentage bumps up to 4.5%, and in year three and for every year thereafter, you’ll pay a constant rate of 5.5% towards royalty fees.
This fee helps maintain the business systems that keep you growing and thriving. These fees ensure that both the Franchise Owners and the governing board can keep performing optimally. They allow you to stay current with technological advances, help pay for expenses incurred at headquarters, and support the growth and welfare of the entire franchise.
A Few Added Perks
Finding an affordable franchise that’s going places takes time and dedicated effort. In your search, we’re guessing you’re not just concerned about the money. You want to partner with a franchise that upholds a high standard in other areas as well.
Responsibly Sourced
These days, people pay attention to where their food comes from. They like knowing we’re intentional about where and how we source our food. We also care about preserving sea life for future generations of seafood lovers. We have an oyster recycling program and are officially certified as an Ocean Friendly Establishment.
Niche Products
With generously sized protected territories and very little lateral competition, you’ll be the only oyster bar of its kind in your community.
Efficient Supply Chain
Our network of quality vendors can deliver fresh, domestic seafood anywhere in the continental U.S., thanks to our streamlined supply chain.
Exceptional Support
You never have to go it alone as a Shuckin’ Shack Franchise Owner. We’re here for you and offer over 140 hours of in-class and on-the-job training to make sure you feel confident and qualified to take the helm. Thereafter, someone is always available to help you navigate any rough waters you may happen upon.
Don’t Miss Out on this affordable franchising opportunity
Those who step into a Shuckin’ Shack for a taste of our sea-fresh foods love the beach party atmosphere. It makes them feel like they can leave their worries behind for a while. Even though running a business takes work and dedication, when you run one of our oyster bars, it comes with its share of fun as well.
We’re looking for candidates who have just the right blend of management and communication skills, a desire to have a positive impact in their community and a passion for success. If that describes you, we’re confident you could prosper within this exciting career.