Garbanzo Mediterranean Grill recently signed a deal to open its first Florida franchise.
Garbanzo, a "fast-casual" chain that sells wraps, salads and kebabs, is considering opening the first of its restaurants in Palm Beach, Broward and Dade Counties. The agreement with the corporate office provides for up to 20 restaurants.
In a statement, an investor said he expects the franchise restaurants to do well in Florida, a state that is "already familiar with Mediterranean foods and flavors."
Generally, Garbanzo franchises are located in urban centers where the average household income is at least $65,000 and 40 percent or more of the population has a bachelor's degree. Commercial real estate requirements include "high profile" end-cap locations and between 2,200 and 2,500 square feet of restaurant space.
As we have mentioned before, franchises can be quite profitable, but only if you understand the franchise agreement and what it requires of you. Sometimes, people get in over their heads because they listen to the corporate parent's patter and do not take the time or care to fully understand what they are agreeing to.
One way to ensure that does not happen to you is to go over the proposed franchise agreement with an attorney. That attorney will be able to tell you what the agreement requires of you, and could help you decide if it's worth it, if you are interested in that advice.
Source: Fast Casual, "Garbanzo inks 1st Florida franchise deal," Nov. 26, 2012
- Franchise law is one area of practice for us. For further information on this field, you could visit our Franchise Law for Franchisees page.
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