Do you want to start a restaurant business by buying Cookout franchise? If YES, here is how much it cost to open a Cookout franchise and the requirement. Cook Out is an American privately-owned fast food restaurant chain operating in North Carolina, Alabama, Georgia, Kentucky, South Carolina, Tennessee, Virginia, West Virginia, Mississippi, and Maryland.
Cook Out was founded by Morris Reaves in Greensboro, North Carolina in 1989. He is currently the owner of the company, with his son, Jeremy Reaves, serving as the CEO. As of November 2019, there are 256 locations operating in ten states.
Financial Investment Required to Open Cookout Franchise
It is important to state that there are no detailed financial requirements for buying the Cookout franchise and interested investors are advised to contact the restaurant for details. However, if you are ready to buy this franchise, you would require a minimum cash at hand of $100,000.
Steps on How to Get a Cookout Franchise
If you are cool with the finance involved in acquiring this franchise, then you would need to follow these steps;
- Fill the application at the website for opening a store. You will need to include your name, address, city and state. You will need a phone number and email address. Then choose the amount of capital you have to invest.
- Wait for the email that confirms that your application was received and is being reviewed. This email will tell you if you will be approved for the location. It will also go into more specifics regarding financing. You will be asked to schedule a time for an associate to call you and talk more.
- Ensure to have your financial papers ready when you have your phone conversation. This is when you will find out if you have enough money to open the store or if you need financing. If you need help with financing, you can apply for an SBA prequalified loan even before the call.
- Note that approval is expected to be quick once you meet the requirements. You should already have a building with all the hookups. After you are approved, the organization will start sending fixtures and merchandise to your building.
- You will then be mandated to attend a workshop at the headquarters before the opening of your store.