The Great Greek
The Great Greek Mediterranean Grill offers fast-casual restaurants specializing in Greek and Mediterranean cuisine. Known for its authentic flavors, it operates in the competitive quick-service dining sector.
The Great Greek franchise FAQ
How much does it cost to open one — the total initial investment?
The total initial investment necessary to begin operation of a The Great Greek Mediterranean Grill® franchise Restaurant is estimated to be between $583,514 and $1,088,560. This includes a mandatory payment of between $271,514 and $301,560 to the franchisor [p.1].
What is the initial franchise fee?
The initial franchise fee is $39,500 [p.18]. This fee is not refundable and must be paid upon signing the Franchise Agreement [p.88]. Prior to this, a $9,500 deposit (referred to as a 'binder') can be paid, which is fully refundable if the franchise is not purchased [p.18].
What are the ongoing royalty and advertising fees?
The ongoing royalty fee is 6% of Gross Revenues, payable weekly [p.89]. Additionally, there is an obligation to participate in the Marketing/Brand Fund, though specific details on advertising or promotional fees are not provided in these excerpts [p.101].
How long is the initial franchise agreement, and can I renew it?
The duration of the initial franchise agreement and the renewal terms are not specified in these excerpts. This isn't specified in the excerpts.
Can I sell or transfer my franchise, and what does that require?
According to the FDD, you cannot freely transfer ownership of your franchise without good cause as determined by the franchisor. Good cause includes factors specified in the document, but is not limited to those explicitly stated [p.6].
On what grounds can the franchisor terminate the agreement?
The franchisor may terminate the agreement on any grounds available by law [p.190]. Additionally, the franchisor cannot cancel a franchise without reasonable cause as per Section 13.1-564 of the Virginia Retail Franchising Act [p.192], and failure to comply with lawful provisions of the franchise agreement is considered good cause for termination [p.6(c)].
What financial requirements — net worth and liquid capital — do I need to qualify?
This isn't specified in the excerpts.
Do I get an exclusive or protected territory?
You have a protected territory [p.49]. In this territory, the franchisor will not open another The Great Greek Mediterranean Grill® business or license others to do so, except in limited access venues [p.49]. This means you are protected from competition within your regular territory but not an exclusive one.
What training and ongoing support does the franchisor provide?
The franchisor provides initial training classes once per month, held at their offices in West Palm Beach, Florida, or a The Great Greek Mediterranean Grill® Restaurant in Las Vegas, Nevada. You are responsible for travel costs such as transportation, lodging, and meals. Additionally, you may attend refresher-training programs if needed, though this is not mandatory. For more detailed rights and obligations regarding training, refer to Franchise Agreement Sections 5 and 7 [p.46]. This isn't specified in the excerpts for ongoing support beyond initial training.
How many franchised outlets are there, and how many have closed or been terminated?
This isn't specified in the excerpts.
Does the franchisor share any financial performance or earnings information?
The franchisor may provide financial performance information if there is a reasonable basis for it and it is included in the disclosure document [p.61]. However, the franchisor does not make any representations about future financial performance of franchisees or company-owned outlets, nor do they authorize their employees to make such statements [p.63].
What am I restricted to selling, and where must I buy supplies?
You are required to sell only the goods and services that the franchisor has approved [p.55]. Additionally, you must offer for sale all goods and services that the franchisor requires [p.56], and this requirement allows the franchisor to change the types of authorized goods or services without limitation [p.56]. Regarding supplies, you may have to buy or lease items from the franchisor or a limited group of suppliers they designate, which could potentially be more expensive than other options [p.4].