Golden Corral Takes a Bite Out of Inflation with New Store Growth Incentives
July 19, 2022 // Franchising.com // RALEIGH, N.C. - Golden Corral, the nation’s largest all-you-can-eat buffet chain, announced today a new franchise incentive program for candidates and existing franchisees who open a Golden Corral restaurant within 24 months of signing a franchise area development agreement.
As the brand continues to accelerate its growth and provide unlimited opportunities for entrepreneurs looking to expand their reach in an exciting industry, the new incentive program is designed to help minimize the recent impacts of inflation. The program provides a unique benefit to operators by reducing food costs and covering manager-training expenses.
The offer is available for qualified candidates looking to expand their franchise portfolio and join America’s largest national buffet chain as well as existing franchisees looking to continue to expand in their current markets or expand into new areas. The incentive program includes the following:
- A cash rebate applied to Golden Corral’s approved broadline foodservice supplier invoice equal to:
- 3% of restaurant sales in year one
- 2% of restaurant sales in year two
- 1% of restaurant sales in year three
- Reimbursed training costs for three managers (up to $15,000 each)
- $5,000 marketing reimbursement for the new unit opening
“We understand the importance of providing franchisees a clear roadmap to success and are committed to making Golden Corral an outstanding investment for anyone looking to become part of our franchise family,” said Lance Trenary, President and CEO of Golden Corral Corporation. “The new incentives provide the perfect opportunity for restaurant franchisees and ownership groups to become part of a family-oriented buffet concept that loves loyal guests and serving communities.”
Golden Corral has been serving customers since 1973 and offering franchise opportunities since 1986. The brand has grown to be the largest all-you-can-eat national buffet chain thanks to the talent, strength, and determination of its franchisees and a stable, and experienced leadership team.
The leaders within the Golden Corral organization are known for working shoulder to shoulder with the franchisees and innovation is no exception. The leadership team doesn’t just seek feedback on ideas, they invite franchisees to the table to help generate and test new ideas. The new prototype restaurant design, referred to as ‘Gateway’ is the result of this collaboration. It’s been a huge success and the franchise system and fans alike are abuzz. The new look includes:
- More space around guest tables to increase the flow throughout the restaurant
- Oversized windows for increased natural light
- Fireplace for aesthetic warmth and a sense of home
- Enhanced interior layout with the kitchen and all bars at one end, and all seating at the other end, to create a quieter and more enjoyable dining experience
Additionally, the brand has implemented new technology to stay in-tune with current consumer preferences. This includes a loyalty app for guests to earn reward points toward future meals, a mobile ordering platform, and curbside pickup. Drive-thru service is being tested in several locations. In recent months, franchisees have been given the option to serve beer, wine and frozen alcoholic beverages, while maintaining the family dining feel that customers know and love.
As the brand continues to expand into key markets, Golden Corral is actively seeking qualified single-unit and multi-unit owners. Ideal franchisees should have operations or ownership experience in the full-service restaurant industry. The brand is also looking for individuals with a strong business acumen and an experienced operator on their team. Franchisee candidates must have at least $2.5 million in assets and $500,000 in liquid assets. This can be met by an individual or partnership.
Note: Please see our April 22, 2022 Franchise Disclosure Document for more details. This advertisement is not an offering. An offering in New York can only be made by a prospectus filed first with the Department of Law of the State of New York. Such filing does not constitute approval by the Department of Law.
For more information about franchising opportunities, please visit https://www.goldencorral.com/golden-corral-franchising/.
For more information about Golden Corral, visit https://www.goldencorral.com.
About Golden Corral
After nearly 50 years of serving fresh food and providing outstanding hospitality, the brand’s founding values and mission have stayed the same. To be the leader in the family restaurant segment, Golden Corral strives to make pleasurable dining affordable for every guest, at every restaurant, every day. While its commitment begins each day with preparing delicious food, Golden Corral also believes in providing outstanding hospitality and giving back. Service to others is a hallmark of the Golden Corral brand. Golden Corral restaurants nationwide have long been strong supporters of the U.S. Military and DAV (Disabled American Veterans). Golden Corral is also the founding sponsor of Camp Corral, a 501 (c) (3) tax-exempt, nonprofit corporation, which provides free, one-of-a-kind summer camp experiences for children of wounded, injured, ill or fallen service members.
Additionally, Golden Corral provides unlimited opportunities for entrepreneurs who are looking for a proven, family-oriented restaurant model. Franchising with Golden Corral is not just a business opportunity, it’s a way of life and the brand is seeking individuals that have restaurant experience and the business acumen to grow. At Golden Corral, you are never alone, as the team is there to provide you with proven systems and operations support to help you be successful and grow your business.
SOURCE Golden Corral
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