Steps to becoming a Damon's Franchisee
Step 1: Submit a Franchise Application and Financial StatementApplicants must have a minimum net worth of $1,000,000 per store, of which a substantial portion is in liquid assets. International applicants must have a minimum net worth of $3 - $5 million +/- per store, of which a substantial portion is in liquid assets. Typically, 20 - 25% of the total project cost will be required as an equity investment in each project. Project costs range from $912,500 - $2,877,500. If you are not in the financial position to solely pursue this business venture, partnerships are an acceptable business structure.
Step 2: Application Review and Final Processing
After we receive the completed application, we prepare background, character and credit checks to verify all submitted information. If these reports are favorable, you will receive preliminary approval and we will begin the process of determining the feasibility of a long-term business relationship.
Step 3: First Personal Meeting, Receive Uniform Franchise Offering Circular (UFOC)
At this meeting, you will learn about our franchise program and the support we offer (such as site selection, training, marketing, etc.). We will discuss your responsibilities to the franchise system and your personal qualifications and business objectives. You will also be invited to contact any of our current franchisees, and be provided with our Uniform Franchise Offering Circular. Take some time to thoroughly review our Uniform Franchise Offering Circular and discuss the Damon's concept with your partners. Call us with any additional questions you may have during this step.
Step 4: Second Personal Meeting: Executive Approval Meeting/Discovery Day
A second meeting is scheduled at our home office in Columbus, Ohio. The applicant will meet with the President/CEO, as well as other members of the Damon's Executive Staff. This time is also used to thoroughly review specific Offering Circular, Development Agreement and Franchise Agreement questions. Development issues and territory discussions are also covered. At some point after this second meeting we would anticipate executing a Development Agreement. A $20,000 Development Fee per store will be required with the execution of the Development Agreement to hold the defined area for your exclusive development. Also at this time, we would expect to see a full business plan outlining your intentions.
Step 5: Identify a Site for Your First Damon's Restaurant
Next, you will select a site in which you would like to open your first restaurant. We will assist you in finding and approving a location suitable for a Damon's within your exclusive Development Territory.
Step 6: Formal Commitment for Financing, Entering into a Franchise Agreement
Once a location is selected and the terms have been negotiated, you will then enter into a Damon's Franchise Agreement and pay the $30,000 franchise fee.
Step 7: Approval of Plans and Construction
Once capitalization of the restaurant is formalized, we will assist you in developing site and construction plans which must include our unique design and decor. You will be provided with a Damon's Planning and Design Specifications Manual.
Step 8: Strategic Planning Session
Prior to the opening of your first Damon's Restaurant, a final meeting is scheduled at our home office in Columbus, Ohio. The Franchise Strategic Planning Session normally lasts five hours and involves an individual planning session with each Damon's department head. The expectations we have of each other are candidly discussed in order to achieve clear communication and objectives.
Step 9: Training
You and/or your operating partner are then scheduled to attend our management training program, which involves 10 weeks of on-the-job training at a Damon's Grill Restaurant and involves classroom training in Columbus, Ohio. You will receive several operations manuals, including a nine-week-out book which will take you step-by-step from nine weeks out to opening day.
Step 10: Complete construction and open for business
After you have successfully completed your training, you prepare for your restaurant opening with the help of your Damon's team of Operations and Marketing personnel and other company representatives.
Step 11: Continued Support
Damon's Restaurants, Inc. will assist and support you with one of the best support systems in the restaurant industry. We will support you in the areas of purchasing, marketing, development, construction, research and design, human resources, etc.
How to apply
To receive a Damon's Franchisee Application, please complete the request form or contact Damon's Restaurants, Inc. at (614) 442-7900.