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Golden Corral Franchising Systems Inc.

A franchise agreement takes place when the concerned parties involved are bound together through certain contractual provisions. This is an arrangement whereby someone with an idea for a business, the franchisor, sells to another person the franchisee the rights to use the business's name, sell a product, or provide a service to someone else. A franchise agreement will usually specify the given territory the franchisee retains exclusive control over the area protection, as well as the extent to which the franchisee will be supported by the franchisor.

Golden Corral Franchising Systems Incorporation was found 1973 and started franchising in 1987. Golden Corral restaurants began as budget steakhouses located principally in small cities from Virginia to Texas. In the mid 1980s, guest requests prompted Golden Corral to reinvent itself by introducing the Buffet and Grill Metro unit that features 150 hot and cold items, a carving station, and the Brass Bell Bakery, which offers rolls, muffins, cookies, pies and pizza made from scratch.

Golden Corral Franchising Systems Inc. Franchisor is a privately-held company with 180 employees and 10 employees in franchise department. They provide Family-style restaurant featuring steaks, buffet and bakery items. There costs and fees include total investment of 1.7 to 4.3 million dollars, franchise fee is 400, 00 dollars, ongoing royalty fee is 4 percent, term of agreement is 15 years and renewal fee is 130, 00 dollars for 5 years. Because of good service they represent in some raking according to Entrepreneur magazine 2002 to 2006. It includes Franchise 500 rank of 181 in 2006, 127 in 2005, 127 in 2004, 269 in 2003, and 92 in 2002. They ranked 1 in category in 2006, 2005, 2004, 2003, and 2002. They are America's Top Global Franchises rank of 100 in 2005.

Golden Corral Franchising Systems franchisor special feature such as 3 Building size to tailor the land and building investment to the population, demographics and potential of the market, active franchise advisory council, privately held company based in Raleigh, north Carolina, and combined purchasing power of golden corral nationwide, with national distributor.

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