Frequently Asked Questions
How do most franchisees obtain financing?
The majority of Goodcents franchisees finance through their local bank or the Small Business Administration. Goodcents is listed on the SBA Franchise Directory.
Can I choose my own location?
As a Goodcents franchisee you automatically get our assistance in locating the site(s) for your restaurant(s); negotiating a lease for the site of your restaurant, and coordinating construction and development of your restaurant.
Can I open a Goodcents in a state that doesn't already have one?
You can, and we’re excited about that! We offer Multi-Unit opportunities in every city, state, and zip code throughout the United States. A three-store minimum is required in markets where Goodcents does not have a presence.
We have Area Representative opportunities available for new markets as well!
How long is training?
The Goodcents training program is scheduled for approximately 20 days and consists of on-the-job training furnished at one of Goodcents’ restaurants plus classes conducted at the Goodcents R&D and Training Facility.
Do franchisees have to buy from Goodcents approved vendors?
Yes. Goodcents works to secure the best quality products at the best prices for franchisees through standardizing vendor relationships.
Can I have more than one restaurant?
Yes!. Multi-Unit and Area Representative opportunities are available. We will agree upon a minimum number of restaurants and a specific geographic area with a scheduled timeline for unit openings.
What is the franchise license renewal fee?
Your franchise agreement can be renewed at 50% of the current fee for an additional 10 years.
How much will it cost to open a Goodcents?
Total opening costs vary depending on location, size of the restaurant, and necessary build-out costs. Some areas of the country have higher opening costs due to the economics of the area.
Typically you can expect to spend anywhere from $243,500 to $362,750. This figure includes your franchise fee, three months of working capital, build-out, equipment, opening marketing, and most other expenditures you incur for your restaurant.
What are the financial requirements to become a franchisee?
Financial requirements vary based on the number of restaurants in development. The liquid capital assets requirement is $100k.
What are the royalty and advertising fees franchisees pay to Goodcents?
6% Royalties and 3.5% Ad Fees
Do franchisees need a restaurant background to open a Goodcents?
While it’s an advantage to have restaurant experience, Goodcents has successful franchisees from all walks of life. Franchisees should have solid business and management experience with a strong desire to be involved in creating the ultimate guest experience.
What are the building options for a typical Goodcents?
Goodcents offers a variety of prototypes including endcap drive thrus, endcaps, in-line and free-standing buildings that vary from 1,500 to 1,750 sq ft.