BURRITO Bar
BURRITO Bar At a Glance
Franchise Fee: $25,000
Royalty: 6%
Total Investment: $350,000 - $380,000
Can Be Home Based: No
2021 Entrepreneur 500 Rank: #
Royalty: 6%
Total Investment: $350,000 - $380,000
Can Be Home Based: No
2021 Entrepreneur 500 Rank: #
BURRITO bar was first opened in 2006 by our founder and president Alex Shtein. In 2009 Alex started to franchise the business. From 2009 until today we have opened 170 locations with 15 more under construction and another 80 on the way. We are Canadas largest Mexican Restaurant chain and Chipotles number 1 competitor in Canada. Our build out cost and return are very competitive and have allowed over 35% of our franchisees to become multi-unit owners. Our strongest competitive advantage is our food, pricing and locations.
Our food is second to none. We have some of the highest yelp reviews in the industry. We offer more proteins and more healthy food options than any of our competitors. We are perfectly priced in the $10 meal category with our average guest check coming in at $16.55.
Our build out cost is $350,000 - $380,000. Of that you require $140,000 in cash and $275,000 in net worth. We have financing programs in place for the SBA with BMO Harris, TD AmeriTrade and RBC banks and get a preferred interest rate of Prime +2.5%. In the history of our chain we've never been turned down for financing. Most importantly in the history of our chain we have never had a loan fail.
Our locations are the best in the business. We look for 1,000 - 1,300 sq ft of space. We want to be in grocery anchored shopping centers or Wal-Mart, Target and Costco style power centers. We like lots of parking, lots of visibility and lots of frontage. If it's not the best location in the area, we'd rather not do it.
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