Great Wraps
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Over the years, Great Wraps has built a loyal following with its revolutionary quick-serve food. Great Wraps’s explosive growth accompanies a fresh approach: a better sandwich with less bread. Each Sandwich is filled with unique, hot combinations, meat, real melted cheese, fresh produce and special sauces that customers can customize to be indulgent or healthy, according to their preferences. Customers can enjoy the fully stocked Great Wraps spice bar where they can make the perfect sandwich/wrap creation to their personal tastes.
Great Wraps franchisees offer a tasty and unique product that customers recognize as better and healthier than many other fast food and generic sub sandwich restaurants. In addition to serving individual customers, franchisees have the opportunity to expand revenue through catering services.
| |
Operating Units |
12/31/2008 |
12/31/2009 |
12/31/2010 |
|---|
| | Franchised |
70 |
68 |
67 |
| | % Change | -- |
-2.9% |
-1.5% |
| | Company-Owned |
2 |
1 |
1 |
| | % Change | -- |
-50.0% |
0.0% |
| | Total |
72 |
69 |
68 |
| | % Change | -- |
-4.2% |
-1.4% |
| | Franchised as % of Total |
97.2% |
98.6% |
98.5% |
Investment Required
The franchise fee for a Great Wraps franchise is $11,250.
Great Wraps provides the following range of investments required to open your initial franchise. The range assumes that all items are paid for in cash. To the extent that you choose to finance any of these expense items, your front-end investment could be substantially reduced.
| |
Item | Established Low Range | Established High Range |
| |
Initial Franchise Fee |
$11,250 |
$11,250 |
| |
Equipment & Furniture |
$65,000 |
$75,000 |
| |
Construction and Leasehold Improvements |
$120,000 |
$186,000 |
| |
Signage, Menu Board |
$6,000 |
$9,000 |
| |
Cash Registers |
$6,200 |
$6,200 |
| |
Architectural Fees |
$6,000 |
$8,000 |
| |
Opening Inventory |
$4,000 |
$6,000 |
| |
Insurance |
$4,500 |
$4,500 |
| |
Security Deposit |
$8,500 |
$12,500 |
| |
Expenses While Training |
$2,000 |
$3,000 |
| |
Professional Fees |
$1,000 |
$3,500 |
|
Additional Funds (3 Months) |
$75,000 |
$75,000 |
| |
Total Initial Investment |
$309,450 |
$399,950 |
Ongoing Expenses
Great Wraps franchisees pay continuing franchise fees equal to 5.5% of net sales plus a brand development royalty fee equal to 0.5% of net sales and subject to increase up to 3%.
What You Get—Training and Support
Franchisees undergo a 10-day Training that prepares them for a simple, efficient and complete business operation. Great Wraps assists franchisees in contacting a local Broker for site selection and helps negotiate store leases. The Store Development Team guides franchisees through the design, permitting, bidding and construction process.
Ongoing training and support includes access to new sandwich recipes that are constantly in development. Strong marketing support is provided for franchisees both for Grand Opening and on an ongoing basis to support franchisee success. Additionally, Great Wraps Business Consultants make periodic visits to help franchisees implement new programs.
Territory
Great Wraps does not grant exclusive territories.
Note: The tables and information regarding the number of operating units, investment required, on-going expenses, training and territory grants were taken from the company’s 2011 FDD. The 2011 write-ups will be incorporated into the 2012 Edition of Bond’s Top 100 Franchises publication.
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